Project Benefits Biotech Network
Nova Scotia's biotechnology industry is increasing its national and international reputation, thanks to $294,199 in funding announced today for BioNova, the province's biotech and life sciences industry association.
The funding is being provided by the provincial and federal governments under the Canada/Nova Scotia COOPERATION Agreement on Economic Diversification. The total project costs are $582,172.
BioNova is an industry association of about 70 Nova Scotia companies and institutions involved in biotechnology industries such as pharmaceuticals, diagnostics and therapeutics. The association is hosting a workshop Sept. 14-15 for business professionals in the biotechnology industry.
"This project clearly supports Nova Scotia as a leading trade centre by enhancing competitiveness and increasing exports within this very important and progressive field," said Senator Al Graham, Leader of the Government in the Senate and Minister responsible for Nova Scotia, on behalf of Fred Mifflin, Secretary of State for Atlantic Canada Opportunities Agency.
BioNova acts as an information-sharing, networking and advocacy organization for Nova Scotia companies interested in the commercialization and use of biotechnology. Funding announced today will allow BioNova to secure the support of member biotech companies and help publicize the economic and business contributions of the sector toward the Nova Scotian economy.
"The biotechnology industry plays a vital role in the province's economic development," said Manning MacDonald, Minister of Economic Development and Tourism. "BioNova helps foster a more positive environment for biotechnology businesses to develop here in the future."
Said Bill Mills, executive director of BioNova: "This funding allows for the development of BioNova and positions the Nova Scotia biotech industry sector as a major presence, both here in Nova Scotia and across Canada."
BioNova's intensive workshop this week is covering the science behind the technology, as well as a comprehensive overview of industry activities and needs and job skills requirements.
Market forecasts show Nova Scotia is entering a period of intensified interest in biotechnology business development, making BioNova a timely endeavour. It continues to support the efforts of InNOVAcorp, the Department of Economic Development and Tourism, and ACOA in fostering commercial links and business development opportunities in Atlantic Canada and internationally.
BioNova builds on Nova Scotia's strengths in the biotechnology sector by developing export potential, encouraging startup companies to develop export markets, maintaining a reputation for quality products, and strengthening existing business networks and associations. Through its connection with BIOTECanada, BioNova develops relationships and open marketing avenues for Nova Scotia-based companies.
The Canada/Nova Scotia COOPERATION Agreement on Economic Diversification is managed by the Atlantic Canada Opportunities Agency and the Nova Scotia Department of Economic Development and Tourism.