This paper focuses on the relevance of harmonising higher education and innovation strategies in the context of fostering economic growth, illustrated by the particular weak point in the case of Canada. The present-day market for highly-skilled labour is global and therefore increasingly porous. A government that wishes to avoid losing its highly-skilled workers to countries that can provide more attractive conditions must aim at investing simultaneously in tertiary education and science and engineering infrastructure. Ideally, supply (higher education) and demand side (innovation) policies would interact in a balanced way. Canada is located at the two extreme ends of investment in higher education and innovation and will be compared to other OECD countries. The paper concludes that seeking policy convergence in innovation and higher education with leading countries is not sufficient to reach growth and can produce disappointing results for talented people whose career expectations may remain unfulfilled. It is therefore crucial for a country to develop higher education and innovation "in harmony" with the global context and also to achieve harmony between other policies and institutions in its own national context.