[OTTAWA, ON] April 9, 2021 – The economic, social and health impact of the
pandemic has underscored the strategic importance of a strong domestic life
sciences sector. Federal and provincial governments have recognized the sector’s
importance as they prepare for future covid-like challenges and begin the economic
rebuild needed over the period ahead. Governments are correspondingly developing
strategies and investing to advance the sector and Canada’s competitive position
more broadly. While the investments and initiatives are significant and welcome, they
are for the most part unconnected. In this context, federal and provincial
governments are encouraged to strategically partner with industry to coordinate and
leverage their investments with an aim to enhancing Canada’s competitive position
to attract global investment and grow Canada’s biotechnology sector.
In the context of the upcoming federal budget and biomanufacturing initiative,
BIOTECanada presently has very targeted recommendations before the federal
government, namely: greater access to investment capital through a dedicated life
science investment fund and the enhancement of the Strategic Innovation Fund,
investment in infrastructure including manufacturing and wet labs, globally
competitive tax incentives such as the SR&ED tax credit, an effective and efficient
regulatory system, and policies to increase the availability of skilled workers. With
more than 240 members representing the full biotechnology ecosystem and all life
sciences sectors including agriculture, industrial manufacturing and investors,
BIOTECanada will continue to support all undertakings designed to develop a
cohesive national strategy to augment the vast potential of the entire biotechnology
sector in Canada.
For further information see the BIONATION policy paper outlining the potential and
opportunity for Canada.