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The world’s population is predicted to grow to almost 10 billion people by 2050. This means drastic global changes in human health, the environment, food security and economic fortunes have already started to impact our day to day lives. Demands for consumer goods, healthcare, energy and western based diets emanating from ever increasing populations in countries such as China and India are impacting economies, human health, the environment, and food and water supply like never before
Canada has always been a strong leader in biotechnology. From the discovery of insulin in 1922 to the genetic sequencing of the SARS virus, the first test flight of a jet using biofuel and the development of a potential Ebola vaccine, our discoveries and innovations in agriculture, environmental remediation, industrial applications and healthcare have benefited people at home and around the globe.
Large pharmaceutical companies used to do all their own R&D. When they realized they could no longer keep up with the fast pace and complexity of biotechnology, they were forced to adopt a new cooperative business model of innovation. Multinational biotechnology and pharmaceutical companies, operating in countries around the globe, no longer have their head offices, R&D facilities and manufacturing centralized in one location. Instead, much of manufacturing and R&D are outsourced, often in multiple countries around the world. While some internal R&D and the acquisition of start-ups still occur, the companies rely on scouts to identify companies with promising drug candidates or technology platforms that the larger firms can either license or buy to fit into the company’s pipeline of research and development
Due to its rich culture of scientific discovery and development, Canada has a networked ecosystem in every province, where small- and medium-sized biotech companies work with universities, research institutes and hospitals, regulatory authorities and multinational corporations to bring their concepts to market.
Canadian biotech companies are bringing innovations to agriculture, creating new sources of energy and industrial applications, and reducing the environmental footprint of existing manufacturing and industrial processes. This sustainable intensification enhances the competiveness of traditional Canadian industries, such as mining, farming, forestry and oil and gas, thus protecting jobs in these cornerstone parts of the Canadian economy.
Governments at all levels seek to provide optimal healthcare for Canadians. Pressures of an aging population and, with it, the rise of HONDA diseases, planning for emerging infectious diseases and global pandemics contribute to budget impacts that payers must address
To use the analogy of tourism, Canada must look at investors as global travelers and consider the types of “amenities” that will attract them. As with hotels, which compete for tourists with things like free Wi-Fi, free breakfast, and gyms, countries must compete at each stage of the “buyer’s journey” to investment