Recently, Public Policy Forum, an independent organization that promotes policy choices in Canada, convened a roundtable discussion on the future of biotechnology in Canada. During the meeting BIOTECanada launched its blueprint for Canada to become the world's leading bio-economy.
The roundtable highlighted that biotechnology is an important part of Canada's economy. In 2007-2008 biotechnology represented 6.4% of Canada's gross domestic product outpacing the automotive and aerospace sectors. Despite the importance of biotechnology to Canada's future, Canada's support for bio-based industries is slipping. This coupled with the global recession means that Canada is losing companies and people to other countries. In May alone, it was estimated that the Canadian biotech-industry work force was cut by 8%. The roundtable suggested several ways of preventing the loss of biotechnology companies and people including providing short term financial support to enable biotechnology companies to weather the current global recession.
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