Ontario is investing $146 million into the life sciences sector as it tries to become a world leader in biomanufacturing and health sciences.
Premier Doug Ford has announced the second phase of the province’s life sciences strategy, which will see the province put $46 million into an infrastructure fund to boost research capacity at post-secondary schools and hospitals.
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The province is also spending $5 million to speed up clinical trials, $36 million for several startup funds and $40 million in venture capital funds intended to spur growth and innovation.
The province is also expected to soon announce the details of a program to help companies find laboratory space.
Ford says the province has attracted $5 billion in life sciences investments since his government came to power in 2018.
Economic Development Minister Vic Fedeli says the province aims to increase the number of jobs in the sector to 85,000 from 72,000 by 2030.
© 2024 The Canadian Press