What is BIONATION
The BIONATION program was created in 2020 by BIOTECanada as a platform for a national dialogue on the achievements and developments of the biotechnology ecosystem in Canada. BIONATION hosts events, develops policy papers and resources, and ultimately connects Canada’s biotechnology entrepreneurs and research and development leaders with the government. BIONATION has helped to make Canada a biomanufacturing and life sciences powerhouse. Today, more than 900 innovative Canadian biotechnology companies anchor our national discovery and development network. The ecosystem driving the network is an economic catalyst present in every Canadian region and is driving the unprecedented opportunities that lay ahead.
BIONATION 2023 Highlights
Investing in BIONATION
Beginning with the 2021 federal budget, the Government of Canada has made significant investments to build out the domestic life sciences ecosystem and enhance Canada’s biomanufacturing capacity: The $350 million Venture Capital Catalyst Initiative (VCCI) included a Life sciences stream of up to $50 million In 2023, The $2.6 billion Canada Innovation Corporation (CIC) was created to drive Canadian business investment in research and development (R&D). The Council of Expert Advisors (CEA) will advise the Government of Canada on the long-term, sustainable growth of Canada’s biomanufacturing and life sciences sector, and how to enhance our ability to protect the health and safety of Canadians. Canada’s first-ever National Strategy for Drugs for Rare Diseases makes available up to $1.4 billion over three years to provinces and territories to improve access to new and emerging drugs for Canadians with rare diseases.
Our Moment is Now
We have made incredible progress over the past few years, but we must not take our foot off the gas. Every other leading economic jurisdiction in the world is also investing heavily in their domestic life sciences sectors as they too understand the vital role biotechnology innovation plays in the global economy.
Now through BIONATION we are focus on the next set of policy reforms and programs to build a more globally competitive Canada.
The BIOTECanada 2024/25 Budget Submission lays out the key recommendations being championed for the sector:
- Enhance the global competitiveness of Canada’s regulatory policy environment by providing Canadians with access to next-generation biotechnology innovation and ensuring Canadian biotech companies can scale and anchor their operations in Canada.
- Grow the biotech ecosystem and establish a long-term Canadian-based investment pool by Accelerating company creation and growth. Provide IRAP with $250 million non-dilutive life science funding with a 1:1 matching program against external capital raised. Establish globally competitive Tax Policies for research and development-intensive companies by enhancing SR&ED tax credits and Implementing a Patent Box measure.
- Establish long-term Canadian-based investment funding for life sciences: by investing $350 million in a new 2:1 investment match Life Sciences Venture Capital Catalyst Initiative (LS-VCCI), to build on the Venture Capital Catalyst Initiative (VCCI).
Lead public health efforts to protect the health of Canadians: by Addressing the existing public health immunization gap to ensure all Canadians have access to equivalent care with an investment of $300 million.
Save the Date: BIONATION 2024 will be held on September 24 – 25 in Ottawa.
BIONATION in the News
Insights Magazine: 2023 Fall issue (coming soon)
Check out some recent media highlights discussing industry investments and strategies representing an important and timely opportunity to accelerate the growth and global competitiveness of Canada’s biotech sector
How to Grow Canada’s Biotech Sector, The Future Economy
Canada’s biotech ecosystem at an inflection point, iPolitics
Fall issue of insights magazine featuring Roche, Fonds de la Solidarite FTQ, Bioenterprise, VIDO, OmniaBio, Atlantic Clinical Trials Network, and more.