May 03, 2018 -- OBIO® released its latest report, ‘Use It or Lose It: Industry Solutions to Ontario’s Commercialization Gap’, with recommendations from health science company executives on how to create the conditions for the growth of Ontario’s health science industry.
This report is the result of a survey of 135 Ontario health science industry executives, looking at the growth of Ontario’s health science sector and the opportunities for future development. The report makes five recommendations to ensure Canadians derive the benefits that accrue from a successful health science economy: regional prosperity, knowledge economy jobs, increased patient satisfaction, and improved health outcomes.
Overview of the Report:
Ontario’s health science industry is starting to grow and mature with over half of companies in the preclinical or clinical stage of development, and one in five with their most advanced project generating sales or expanding their markets.
But companies continue to face barriers to scaling up in Ontario which fall across four main themes: financial, infrastructure, ecosystem and talent.
Industry had five recommendations which include improved access to capital, globally competitive tax policies, consolidated funding programs, and most importantly stronger local infrastructure and access to local markets, including a system of early adopter health care providers with expertise in piloting, adopting and championing new technologies.