The Government of Ontario has launched the second phase of its life sciences strategy, committing €146 million to strengthen the province’s position as a global hub for biomanufacturing and life sciences innovation.
This phase aims to enhance research capabilities, expand access to specialized lab spaces, speed up clinical trials, and launch modernized procurement processes to foster the growth of Ontario’s life sciences sector.
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Key Investments in Research and Development
The province will invest €46 million in the Ontario Biosciences Research Infrastructure Fund to support research at postsecondary institutions and affiliated hospitals. Additionally, €15 million will go towards developing much-needed wet lab spaces for life sciences companies, addressing a critical shortage of available lab facilities in the Greater Toronto and Hamilton Area. The strategy also includes €5 million for Clinical Trials Ontario’s QuickSTART Initiative, designed to accelerate the start of health trials.
New Funding to Scale Up Ontario’s Life Sciences Sector
As part of the new phase, the government has introduced a €24 million Life Sciences Scale-Up Fund (LSSUF), which complements the previously announced Health Technology Accelerator Fund. These funds will help Ontario-based companies expand production capacity and prepare for procurement opportunities. The Venture Ontario Fund will also contribute €40 million to support biomanufacturers and life sciences businesses in the province.
The overall goal of this strategy is to increase Ontario’s biomanufacturing and life sciences workforce by 25%, adding up to 85,000 high-value jobs by 2030, and doubling venture capital investment in the sector to €725 million annually.
