May 4, 2009

GLOBAL LEADERSHIP ROUND IN GENOMICS AND LIFE SCIENCES

GROWING AN INNOVATION ECONOMY IN ONTARIO

Whether it’s making transformational breakthroughs in genomics and stem cell research or cataloguing the world’s biodiversity through DNA barcoding, Ontario innovation in the life sciences is making a global mark and putting the province at the forefront of new discoveries. Ontario has a tremendous legacy – insulin and stem cells were discovered by Ontario researchers – and we are already a global leader in many fields.

The goal of our $3.2 billion Ontario Innovation Agenda is to make this province the best place in the world to conduct world-class, transformational research, and get great ideas into the hands of customers around the world.

In the 2009 Budget, Ontario committed $100 million for genomics and gene-related research – focused on discovering new therapies, and technologies that will help people live healthier lives and protect our environment and biodiversity.

HEALTH

In medical research, Ontario scientists and their teams are using genomics, proteomics and stem cell research to better understand how diseases affect the body – and how to treat disease more effectively. This field of research also helps guide the development of new pharmaceuticals that can more effectively target diseased cells, protecting healthy cells during treatment.

AGRICULTURE

In agricultural research, Ontario scientists are using new discoveries in genomics to develop new strains of crops – like corn and wheat – that are more resistant to insects and disease, and that grow better in extreme weather conditions. Together, these discoveries help farmers produce more crops that require less pesticides and herbicides to thrive.

ENVIRONMENT

In environmental research, genomics has helped scientist create new, mobile devices to identify animal and plant species, learn about complex ecosystems and ultimately create solutions to preserve biodiversity.

ONTARIO IS OPEN FOR INNOVATION

Ontario is open for innovation and we’re open for business. We’re helping Ontario companies develop their technology and get to the global market first. We are helping our leading entrepreneurs grow and retain valuable R&D activity right here in Ontario. New companies need capital to continue growing in Ontario and this means new jobs for the future.

New industries are emerging and we want those industries here in our province, employing our people. We recognize that Ontario is a relatively small player in the global economy, but we punch well above our weight when it comes to science. In the 21st century, our intention is not to compete as a lowest cost producer. Our intention is to compete on our world-class research, our talent, our ideas, and our ability to get Ontario ideas, discoveries and breakthroughs into the hands of customers around the world.

We will continue to support infrastructure, innovation, partnering with business and cutting corporate tax, to make Ontario the place in the world to invest, the best place to do transformational research, and the best place to turn good ideas into great jobs.

ONTARIO’S GENOMICS AND GENE-RELATED RESEARCH LEADERS

Ontario is fast-becoming a global leader for genomics and gene-related research, thanks to an integrated network of organizations. These include:

• Structural Genomics Consortium
• International Regulome Consortium
• International Barcode of Life project
• International Cancer Genome Consortium.

JOBS OF THE FUTURE

The biomedical field in Ontario will spur the growth of new economic sectors and job careers in science and business, such as research, engineering, computer technology, business, finance and law. One exciting field is bioinformatics – the management and analysis of biological information contained in databases. Bioinformatics is exploding in Ontario and globally. Since 2005, the world market for bioinformatics has grown 15 per cent per year and is expected to reach US $3 billion by 2010.

Bioinformatics is used in many areas of life sciences such as drug discovery, molecular medicine, microbial genome applications and agriculture. Bioinformatics contributes to these areas of the life sciences industry through its applications in research fields such as genomics, proteomics.

ECONOMIC IMPORTANCE

Ontario’s scientists are part of a global research community that is helping create new therapies and applications from genomic and stem cell research.

• Southern Ontario is the third largest medical research cluster in North America.
• The Toronto area alone, for example, is now the fourth largest biomedical research complex in North America, with nine research institutes, 5,000 faculty appointments in medical research, 2,000 graduate students and 1,100 post-doctoral and clinical fellows.
• Eleven of the world’s 20 largest multinational advanced health technology companies have operations in Ontario.
• There are over 850 medical/life science companies in Ontario with more than 45,000 employees and annual revenues of approximately $14 billion.
• Ontario’s biotech industry generates 66 per cent of Canada’s biotech revenues, employs 38 per cent of Canada’s biotech workforce, and performs 38 per cent of Canada’s biotech R&D.
• Between 1994 and 2005, our province’s biomedical exports tripled.

SUPPORTING MORE INNOVATION IN 2009 BUDGET

Research and innovation are key pillars of the 2009 Budget, which includes major investments in training, research, commercialization and industry collaborations. Highlights include:

• $300 million in capital funds over six years for research infrastructure and $100 million for the Global Leadership Round in Genomics and Life Sciences, bringing Ontario's commitment to science to a historic high of $1.4 billion
• $50 million over four years to promote technology demonstration projects through the Innovation Demonstration Fund
• $250 million to foster new high-tech industry collaborations through the Emerging Technologies Fund
• $10 million over three years to develop the best talent through hands-on applied research, technology transfer and commercialization opportunities
• $2 million a year in proposed tax relief to extend the 10 per cent refundable Ontario Innovation Tax Credit to more small and medium-sized corporations for Scientific Research and Experimental Development (SR&ED) in Ontario
• A new tax reform package that would cut Ontario’s marginal effective tax rate on new investment in half, helping make Ontario one of the most competitive jurisdictions in the industrialized world for new investments.

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See also:

• News Release: Ontario Investing In Science To Strengthen Economy
• Backgrounder: Support For The Global Leadership Round In Genomics And Life Sciences