MINISTRY OF ECONOMIC DEVELOPMENT AND INNOVATION
ONTARIO
“There’s a commitment from both provinces to find ways to grow this corridor and to grow globally together. That includes increasing the size and significance of our industry and this creates potential to attract resources worldwide.” to making huge breakthroughs that will provide global benefits in a number of different areas.” Beyond Ontario’s standing in the world, it also benefits from a tradition of exceptional science. “We also have a legacy for making great discoveries, James Till and Ernest McCulloch’s work on stem cells and the discovery of insulin to name a few. And we continue to make breakthroughs in oncology, neurology, cardiology, imaging, diagnostics, stem cells, and informatics. I think the key here now is bridging this great scientific tradition and bonding it with our economic objectives and strategies. Again, they’re really one and the same and we can use this synergy to drive Ontario forward.” Duguid says this includes elevating the profile of the industry in the minds of investors, establishing new small business support programs here and offering incentives to companies that choose to relocate or establish a presence in Ontario. Essentially, it’s about expanding the focus to include business development. MEDI continues to build on this momentum. For example, at BIO 2010, MRI launched a $161-million Life Sciences Commercialization Strategy. The province has also established two venture capital programs – the $250-million Ontario Emerging Technologies Fund and the $205-million Ontario Venture Capital Fund, to which the Government of Ontario contributed $90 million. All of these programs tie in to Ontario’s Innovation Agenda. “We are making investing in Ontario more attractive for businesses, through government-to-business services that move at the speed of business. It’s about finding ways to stay ahead of the game. We need to be innovative, not just in the
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Biotechnology Focus / June 2012
products we develop and produce, but in the way we conduct business. This means making government programs and services easier to access while reducing paperwork and outdated regulatory requirements.” He says it’s not as tough a sell as some might think, and already there are signs the business community is taking notice. “Recently IBM located its only global research centre here in Ontario. It’s a $210-million investment which creates 145 research jobs right off the top. It’s a partnership with seven Ontario universities that will tackle challenges that include the bio health area. IBM could have gone anywhere in the world to set this up; but they chose Ontario because Ontario is one of the best places in the world to do research and to grow a business.” Going forward, the ministry will continue to support the partnership between Ontario and Québec in developing the Life Sciences Corridor initiative announced at BIO 2011. “There’s a commitment from both provinces to find ways to grow this corridor and to grow globally together. That includes increasing the size and significance of our industry and this creates potential to attract resources worldwide. It’s not always easy because there are areas that we compete in in the life sciences sector, but the onus is still on us to find ways to go beyond those areas we compete in and find areas that together we can create synergy.” With the recent Ontario Budget MEDI is also taking steps towards making the province more business friendly to the bioscience sector. “We want to make it easier for our businesses to access Ontario business support programs. We’ve established the Jobs and Prosperity Council, which will report
directly to the Premier and will generate new ideas and approaches to improving Ontario’s long-term productivity and competitiveness. And the innovation piece will be an important part of the work we do with that council. At the same time we’re maintaining our commitment to research and innovation, and have already invested about three and a half billion dollars since 2003 – about 50 per cent more than the previous government.” The end goal is to see more of this type of activity, to make Ontario a focal point of international interest in the area of life sciences. And according to Duguid, this can be attained not just through research and development funding, but by providing business advisory services and marketing Ontario to potential international business investors using the Open for Business initiative as a key selling point. This is part of the message MEDI is taking to BIO 2012 in Boston, using this premier annual international conference as a platform to attract the world’s attention. Duguid is very excited to be going to Boston and not just because he is an avid Boston Bruins fan. He sees BIO 2012 as the perfect setting to tell the world about everything Ontario’s bioscience industry has to offer. “In this age of globalization, the world is becoming flat as they say; it’s become a very small world. And I think that we’re going to see a considerable amount of progress in solving some of the world’s challenges, but only if we’re able to break down the silos that exist between between different levels of government, between different sectors and between countries and jurisdictions. We’re going there to tell the world, come to Ontario, do your research here and bring your business here, we are here to partner.” Ontario’s doors are open.