Alberta Life Sciences State of the Industry Report Highlights Continued Industry Growth and an Optimistic Outlook

CANNANNEW REPORT

EDMONTON, Alberta–(BUSINESS WIRE)–#Alberta–Alberta’s life sciences industry continues to be a major growth, diversification, employment, and innovation engine for the province of Alberta. With more than $1 billion in revenues generated by Alberta companies and over 12,000 jobs expected to stem from the industry, the province’s life sciences ecosystem has demonstrated strong performance and continued positive momentum, as outlined by a report released today by BioAlberta, in collaboration with Deloitte Canada. Jason Ding, Partner and National Life Sciences and Healthcare Financial Advisory Leader at Deloitte Canada, and Robb Stoddard, President and CEO of BioAlberta, will present the findings of the 2021 Alberta State of the Industry Report in Edmonton on November 16 at a virtual event at 1:30 pm. The report, resulting from a survey that was distributed to more than 400 life science companies in the summer of 2021, provides a review of the state of this industry in the province, examining revenue growth, research and development, human resources, and sources of funding and capital. “Though COVID-19 presented challenges for the life sciences sectors, we expect it to re-bound and capitalize on new emerging opportunities,” said Robb Stoddard, President and CEO of BioAlberta. “As Alberta companies continue to grow and mature, this will help Alberta to become a key player as a hub in Canada and globally.” Alberta’s life sciences industry is experiencing incredible growth and opportunities. Respondents noted a few key industry opportunities: 1) Increased commercialization and scaling of companies both within and outside of Alberta; 2) Increased partnerships and collaborations in Alberta; 3) Increased incubators and/or accelerators to support commercialization; and 4) Increased access to capital. The report focuses on R&D, human resources, revenue, and financing. From an R&D perspective, spending has increased since 2018/19, eclipsing $240 million for the first time since 2017. In terms of talent,…

Excerpt only …
READ MORE BELOW
Source : Alberta Life Sciences State of the Industry Report Highlights Continued Industry Growth and an Optimistic Outlook

reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.