BIOSCIENCE ASSOCIATION MANITOBA
MANITOBA LIFE SCIENCES STRATEGY: POWERING OUR BIOSCIENCE FUTURE
M anitoba, both nationally and globally, is making significant strides in the field of bioscience, driving innovation, research and economic prosperity. In the last five years, Manitoba's bioscience industry has witnessed remarkable growth, with a 40 per cent increase in total capital raised, a 46 per cent surge in research and development investments and a 170 per cent increase in exports. In 2021, the sector's revenues exceeded $9.9 billion, contributing a substantial $5.2 billion to the province's GDP, positioning
hub, bringing together innovators, entrepreneurs, researchers, and industry and workforce partners to maximize global reach and create new opportunities for success. Manitoba has established a Business Navigation Service that connects businesses with relevant programs and investment opportunities, while also promoting Manitoba's competitive advantages to global investors. Future-ready skills and talent infrastructure To maintain a highly skilled workforce, Manitoba recognizes the importance of world-class educational institutions, work-integrated learning opportunities and collaborative educational partnerships historic investment of $40.4 million over the next four years, to expand and enhance the Sector Council Program. This program is geared towards addressing labour market needs and fostering sector-wide economic growth. Data and analytics excellence Leveraging data, analytics, machine learning and artificial intelligence has become integral to optimizing research and accelerating innovation in the bioscience sector. Manitoba is at the forefront of this endeavour with one of the most comprehensive data resources in Canada. The Manitoba Population Research Data Repository provides a wealth of data, facilitating interdisciplinary research opportunities, improving health outcomes and delivering social and economic benefits. World-class research and innovation Manitoba's research and innovation capabilities are a force to be reckoned tailored to meet industry talent requirements. The government is focused on attracting, training and retaining skilled workers, evidenced by a
with, featuring 38 bioscience R&D centres, advanced manufacturing facilities and a network of post-secondary institutions that fuel innovation and prepare the next generation of biotech professionals. Manitoba's research community is making groundbreaking contributions to global science and health care, saving lives and driving economic growth. Increasing access to capital Biotech companies often face unique challenges in raising capital due to high costs, regulatory hurdles, lengthy timelines and other risks associated with developing new technologies. Manitoba is committed to addressing these challenges by developing various financing options, including the Manitoba First Fund. This fund, with an initial investment of $100 million from the Manitoba government, is partnering with independently managed downstream funds to attract private sector interest, thereby expanding financing options. Through this comprehensive strategy, Manitoba aims to capitalize on its existing strengths in health biotech, ag biotech and clean biotech, while fostering collaboration between industry, government and academic institutions to nurture a thriving bioeconomy. This strategic plan is a vital step toward ensuring the province remains well-equipped to support the growth of this diverse and transformative sector, positioning Manitoba as a leader in the ever-expanding bioscience industry.
it as Manitoba's fourth- largest industry. Notably, pharmaceutical and medicine
manufacturing, also known as medicaments, stands as Manitoba's largest exporting industry, with a value of $2.7 billion in 2022. In an effort to harness the potential of biosciences, the
Manitoba government, in collaboration with Bioscience Association Manitoba,
has introduced a groundbreaking Manitoba Life Sciences Strategy. This strategic plan is geared towards propelling the province forward in the evolving bioscience industry and is built on five key pillars, emphasizing Manitoba's dedication to cultivating a more robust and prosperous economy. These pillars revolve around the essential aspects of generating quality jobs, fostering economic growth, investing in research and development, increasing international awareness and forming transformational partnerships. Strong public-private partnerships Manitoba boasts a tightly knit ecosystem of partners collaborating with the government to assist companies in accessing essential services, capital and support required for their growth. The province serves as an innovation
17 WINTER 2023
Powered by FlippingBook