the global challenge and opportunity for Canadian biotech
The world’s population is predicted to grow to almost 10 billion people by 2050. This means drastic global changes in human health, the environment, food security and economic fortunes have already started to impact our day to day lives. Demands for consumer goods, healthcare, energy and western based diets emanating from ever increasing populations in countries such as China and India are impacting economies, human health, the environment, and food and water supply like never before.
The status quo is simply untenable. Society must find ways to both mitigate and adapt to the reality of the pressures challenging our planet and population. We must live, grow, and manufacture, more efficiently and effectively. However, while they are daunting, in meeting these significant health, environmental, economic and social challenges lies an important economic opportunity for those that can deliver solutions. Biotechnology will play a central role in delivering innovative solutions that will help societies and economies both mitigate and adapt.
To capitalize on the country’s strengths and drive innovation forward, it is imperative that the role played by all elements of the ecosystem are recognized and supported. To achieve success, all parts of the ecosystem must be healthy and functioning for the transformation of ideas to move from lab bench to commercial reality.
If done well, Canada can capitalize on the enormous global economic opportunity and in so doing will become home to globally competitive biotech companies which will attract more talent and investment.