Canada's Ontario government provides budget boost for bioscience sector

Urgently needed capital should become more accessible to Ontario's bioscience companies and help create jobs in the biotechnology sector, thanks to Ontario's 2010 budget. An announced increase in the budget of the Ministry of Research and Innovation coupled with anticipated adjustments to existing funding programs designed to encourage research and innovation are applauded by Ontario Bioscience Industry Organization (OBIO).

In 2009, chief executive officers of Ontario-based bioscience companies identified the industry's most pressing challenges and presented their recommendations for promoting growth in the sector to the Ontario government. These recommendations of OBIO sought modifications to make existing funding programs more accessible and to accelerate commercialization, but did not ask for new money.

Govt listening to industry