By Andrew Casey
NaTIONaL BIOTEcH wEEK
CANADA’S BIOTECH INDUSTRY
I
n a post-recession economy, the need for Canada to remain globally competitive has never been more important. Central to Canada’s ability to emerge in a competitive position from the recent economic downturn will be the ability of traditional industries, and the manufacturing sector more broadly, to reengineer themselves and compete in the emerging bioeconomy. And if Canada’s economy is to successfully reengineer itself, it will heavily depend andrew casey on a healthy and President and cEO, innovative biotechBIOTEcanada nology sector. But Canada can go beyond simply competing, with the right partnerships and strategic investments it can become a world leader. Despite the recent economic downturn, Canada’s bio-economy has grown 12 per cent over the past four years and now stands
BIOTECH SOLUTIONS ABOUND Through the recent economic downturn, Canada’s biotech industry has become an essential component of the transformation and redefining of many traditional economic cornerstones including forestry, energy, aerospace and other manufacturing industries. In partnership with these other sectors, the biotech industry has helped position the Canadian economy as a leader in the emerging global ‘bio-economy.’ There is now a bio-based component in virtually
180.0 160.0 140.0
Billions $ CDN
THE CANADIAN BIO-ECONOMY EXPERIENCES 12% GROWTH OVER THE PAST FOUR YEARS
as an $87 billion per year driver, representing 7 per cent of national GDP. It is the foundation of the Canadian bio-economy that represents an employment network of one million people from coast-to-coast. All of this has helped stabilize the economy and establish the industry as a central part of Canada’s economic recovery and long-term growth. But the status quo is not enough, the industry must continue to re-invest and innovate to stay ahead of the competition in other nations. Industry must do its part, as must its other partners including governments at all levels.
120.0
+ 12 %
100.0 80.0 60.0
Driving Canada’s Economic Transformation
all sectors of the economy in the form of improved products and processes. Canadian biotech companies are developing sustainable bioenergy technologies to power cars and jet aircrafts. Renewable composite materials are now an essential component of virtually every aspect of our lives from transportation, to housing, to even food. Clean chemicals are being produced for use in clothing, lubricants and cosmetics along with a host of other consumer and commercial products. Canada’s industrial biotechnology companies are commercializing solutions to address existing and emerging global issues including, but not limited to, the need for renewable energy sources, issues of climate change, and environmental degradation. This is a rather significant attribute given the forecasted growth in global population and the pressures this will place on an already over-taxed land base and climate. From resource management to renewing manufacturing technologies, from new medicines to healthier foods, from renewable energy sources to cleaner chemical production, biotechnology is driving vast levels of innovation into all elements of the Canadian economy. We are now at a point where biotechnology is an essential component that will facilitate the reinvention of numerous industries that will, in turn, ensure long-term competitiveness and create employment opportunities for our best and brightest. This new reality offers a distribution of economic opportunities across Canada, with a significant emphasis on regions of the country that have been particularly hard hit by the economic downturn.
INVESTMENT: IT’S ALL ABOUT ACCESS TO CAPITAL
40.0 20.0 0.0
Oil & Gas
ICT
Bio-Economy 2007
12 BIOTECHNOLOGY FOCUS SEPTEMBER 2012
2011
Auto
Aerospace
However, if Canada is to capture a piece of the global bio-economy pie, it must maintain its competitive position globally. Other leading industrial nations are mov-
