Biotech Industry Exploding in Nova Scotia

Nova Scotia's biotechnology industry is growing at a rate of 23 per cent per year --more than double the national average.

Biotechnology is one of the many sectors of the life sciences industry. The industry has grown rapidly in Canada, and the extraordinary rate at which breakthroughs are being made is expected to continue for some time.

"In Nova Scotia the life sciences industry is being driven forward by two forces," said Steve Armstrong, director of the Life Sciences Industry Partnership at InNOVAcorp. "On the one hand, the province's established companies and up-and-coming entrepreneurs are pulling the industry's development. On the other hand, we have organizations like InNOVAcorp that are pushing it from behind. As long as that continues, we will see great progress in life sciences."

By design, Nova Scotia has many of the necessary resources to succeed in the life sciences industry. The province has 11 universities and 13 community colleges, with more than 38,000 students. This creates a highly educated workforce and a broad base of research activity.

Geographically, the province is close to several major international centres, which allows for efficient travel by air, rail, land and sea. As well, a 1999 study reported that Halifax was the lowest cost city for developing a life sciences company anywhere in the G-7 countries and suggests it is an economically viable place to do business.

Nova Scotia also has organizations at work to aid the development of the life sciences industry. InNOVAcorp, a provincial crown corporation located in Dartmouth, offers a number of commercialization services, including three business incubation units. These are facilities that provide emerging businesses, including those in life sciences, with the support and guidance needed to thrive independently. InNOVAcorp and the Life Sciences Industry Partnership help identify and develop business opportunities within the industry. BioNOVA, another organization, focuses on networking, education and advocacy for the life sciences industry in Nova Scotia.

Already, the province is home to successful companies, a testament to Nova Scotia's potential. Keith Condon is the president of Tri-Star Canada, a health care company in Yarmouth. Although the 25-year-old company is established, Mr. Condon credits the former Nova Scotia Research Foundation, now InNOVAcorp, with playing an important role in Tri-Star's development. Several years ago, Tri-Star expanded to incorporate new elements such as engineering into its business and InNOVAcorp helped the company ease into a new era.

David McNamara is the director of Innovation Centres Development for InNOVAcorp's three business incubators. He feels the future for life sciences in Nova Scotia looks extremely bright.

"This is an exciting time to be in this industry," said Mr. McNamara. "Scientists and business people in this province are working together to do remarkable things, and people around the world are taking notice. We have a lot to look forward to."

EDITOR'S NOTE: A photo opportunity to accompany this story will be available on Thursday, June 24, at 1721 Lower Water St., site of InNOVAcorp's newest business incubator.