Ontario’s Life Science’s sector is an area that has much potential. The need for researchers and industry leaders is large, and the opportunity for success is larger. Global competition and the necessity for increased innovation in this area demands that Ontario’s Life Science’s industry is researched, updated and given more attention. Promotion of this industry is based on the $161 million Life Sciences Commercialization Strategy implemented in early 2010. There is a generous tax incentive program in place for R&D and smaller companies are benefitted greatly by this option. Several different funding options are available by the government of Ontario to provide financial aid for companies and businesses researching for this sector.
Projects involving medical research and development are eligible for funding. Three main sectors of R&D are pharmaceutical, medical and assistive devices and biotechnology. Research in any of these sectors is eligible for project funding. The programs that provide funding are specific to the project and more information on Commercialization Strategies for Life Sciences for facilitating greater collaboration, nurturing scientific excellence and marketing promotion.
Ontario’s Life Sciences Commercialization Strategy is a great way for companies and small businesses to receive funding for their efforts in research and development. If you have any questions or would like future funding and participation in these programs, please contact Mentor Works Government Funding Support .