Ontario is launching a new Life Sciences Commercialization Strategy that combines existing and new life sciences initiatives into a comprehensive and coordinated plan.

The Life Sciences Commercialization Strategy will help position Ontario as one of the world’s leading life sciences jurisdictions, and will ensure cutting-edge healthcare discoveries and products are made in Ontario — keeping high-value jobs in Ontario.

As part of the Strategy, Ontario is investing over $21 million in The Health Technology Exchange (HTX), which will help HTX partner with innovative companies, research institutions and health providers to develop cutting-edge medical and assistive technologies (MAT) that can be marketed to the world.  Over the first five years, the investment is expected to help create more than 130 new jobs and retain additional high-tech jobs.

Funding for the life sciences is part of Ontario’s Innovation Agenda to make innovation a driving force of Ontario’s economy, and also supports the Open Ontario Plan to create new opportunities for jobs and growth.

QUICK FACTS

• Ontario is investing over $161 million through its Life Sciences Commercialization Strategy.
• As part of the Strategy, the province is providing up to $21.4 million over five years to support the over $78 million total cost of two HTX-run programs.
• The global market for medical and assistive technologies (MAT) is estimated at $250 billion.
• An estimated 700 Ontario-based MAT companies employ more than 22,000 and generate approximately $4 billion in revenues.

LEARN MORE

Learn about Ontario’s Life Sciences Commercialization Strategy

Learn about the government’s Open Ontario Plan.

Learn about the Ontario’s Innovation Agenda.

Learn about The Health Technology Exchange (HTX).

This entry was posted on Monday, May 24th, 2010 at 8:57 pm and is filed under Longwoods Online.