BioScience Enterprise Centre Supports Young Companies

Nova Scotia's life sciences industry got a huge boost today with the opening of the BioScience Enterprise Centre in downtown Halifax.

The centre, at 1721 Lower Water St., provides high-quality laboratory facilities, marketing and business support to help emerging companies establish themselves in local and international markets.

The life sciences industry consists of companies that specialize in biotechnology, medical devices and products, information technology and management systems, and research.

"The BioScience Enterprise Centre will provide young entrepreneurs with the resources and environment they need to develop commercially successful products and services," 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 ACOA. "It is expected that nearly 100 jobs will be created within the centre, and this figure will grow as companies expand to new premises and other businesses are created within the facility."

The provincial and federal governments are investing $3.25 million in the centre through the Canada/Nova Scotia COOPERATION Agreement on Economic Diversification. The agreement is managed by ACOA and Nova Scotia Economic Development and Tourism.

"Life sciences is one of the fastest-growing sectors of the Nova Scotia economy," said Robbie Harrison, Minister responsible for the Technology and Science Secretariat, on behalf of Manning MacDonald, Minister of Economic Development and Tourism. "It's growing at about 22 per cent, more than twice the rate of the national life sciences industry. This sector is diversifying our economy and increasing our exports.

"We established the Life Sciences Industry Partnership last year to get major players in this industry working together on new opportunities. Now we're building on this partnership with our support for the BioScience Enterprise Centre."

The centre is already home to three young companies that are helping to grow Nova Scotia's life sciences industry. Among the clients are Ocean Nutrition Canada Ltd., which occupies the facility's third floor, and JR Laboratories, a B.C. company that moved its entire operation to Nova Scotia to take advantage of the state-of-the-art centre.

"Incubation is the cornerstone of our commercialization services," said InNOVAcorp CEO Ross McCurdy. "Facilities like this one are part of the strategy we use to help Nova Scotia's technology-based companies grow their businesses. We've seen tremendous growth through our flagship facility, the Technology Innovation Centre, and we expect similar success through this facility."

The BioScience Enterprise Centre is the third business incubator managed by InNOVAcorp. The centre offers flexible leasing arrangements to young businesses. By the end of their leases, these businesses should be well established in the life sciences industry and ready to move out on their own, making room for new businesses to take up tenancy at the centre.

More than 40 exhibitors, representing both established and emerging businesses, participated in a trade show and open house at the official opening. Among the exhibitors were BioNova, a provincial industry association that acts as an information-sharing, networking and advocacy organization for Nova Scotia companies interested in the commercialization and use of biotechnology.