Life Science Ontario Diversity of Members, Unity of Voice. January 2014

Transcription

1 Life Science Ontario Diversity of Members, Unity of Voice January 2014

2 2 Life Sciences Ontario Our Vision "Diversity of Members, Unity of Voice Our vision is a vibrant life sciences sector in Ontario that speaks with a unified voice to create an environment that fosters collaboration, innovation and commercial success. Our Mission Our mission, as the voice of the life sciences community across Ontario, is to foster commercial success for the sector through advocacy, education and the promotion of the industry locally, nationally and internationally. We value: Collaboration An aligned, unified voice Our Values Science and evidence-based decisions Inclusivity, consultation and consensus Equally the social and economic benefits of life sciences

3 Your Food, Your Health, Our Environment 3 *Centre Graphic: BioTalent Canada, Labour Market Information Report Sequencing the Data: People Driving Canada s Bioeconomy, 2013

4 4 Solutions Through Innovation Innovation is the key to solving the biggest challenges that our province faces; including: a strong and competitive economy, a sustainable public healthcare system, environmentally sustainable energy, materials and fuels, safe and healthy food for all, high quality jobs for our highly educated youth. The life sciences sector is unique in that it plays a significant role in all these areas.

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6 Diversity of Members, Unity of Voice 6 Advocacy Education & Networking Economic Development Marketing & Promotion Mentorship

7 Ontario s Best Economic Investment for the Future 7 56% of Ontarians have a post secondary degree compared to 50% of Canadians and 30% average of the OECD. Yet the unemployment rate for youth ages 20-24, with a bachelors degree or higher in areas of STEM, is a staggering 19.4% in Ontario (2011 National Household Survey Statscan) 5 of the 10 most research-intensive Canadian firms companies that spent a high proportion of revenues on R&D were from the life sciences sector (Research Info$ource) Every dollar invested in scientific services generates nearly 5 times that in GDP; more than 10 times the return on investments in mining/petrol (SECOR/KPMG) Overall Life Sciences/Healthcare venture realized gross pooled mean IRR was 15.0% for the past decade. This is in contrast to 5.5% for all of venture capital, 3.0% for IT and 4.1% for Software. In fact, every single sub-category of Life Sciences venture showed at least 2x to 3x better realized IRR than IT counterparts. (Nature Biotechnology 2011)

8 8 Key Strategic Initiatives for 2014 A Life Sciences Benchmarking Report Define and benchmark key statistics of Ontario s life sciences cluster against leading jurisdictions A Life Sciences Vision Paper Identify common goals and develop high level recommendations in collaboration with other life sciences associations and partners to build an aligned, unified message for the cluster An Enhanced Communications and Marketing Platform Ensure all communications, education and networking opportunities are reaching all corners of the province and across all life sciences segments. Showcase Ontario s Life Sciences sector at the BIO2014 International Conference.

9 Benchmarking: How Do We Really Stack Up? We need to broaden our definition of life sciences to be consistent with leading clusters California 1 Massachusetts 1 Ontario 2 Jobs 228,700 77,762 38,000 Establishments 7,468 1,979 1,100 Avg. Wage ($USD) $96,962 $105,559 n/a 1. Battelle/BIO State BioScience Industry Development MEDTE Marketing Brochure (only includes human health related companies) 9

10 10 Creating a Common Vision Validation At the 2013 LSO Fall Event (Dec. 11, 2013); academic experts, leading US organizations, government representatives and Ontario life sciences stakeholders all validated the importance of creating a common vision for Ontario s life sciences cluster Scoping The Ontario Chamber of Commerce (OCC) is leading a life sciences sector roundtable on Feb. 3 rd, 2014 that will bring together key leaders within the Ontario life sciences sector; with the explicit goal creating shared work plan for growth. Outcome We propose that a key outcome from this meeting should be a Life Sciences Vision Paper, endorsed by all stakeholders, that succinctly describes the common strategic priorities for the sector Support LSO is actively seeking financial sponsorship to facilitate the development and dissemination of this important paper.

11 Enhanced Communications & Marketing Platform 11 Leverage technologies (such as webinar and video) to connect communities across Ontario to key life sciences education and networking events in the GTA Increase usage of multiple communications platforms ( , website, print, twitter, linkedin, facebook, You Tube, etc) to disseminate information Hire a dedicated communications manager to support all LSO communications and marketing activities

12 12 City of Toronto and LSO City of Toronto has been a supporter of Life Sciences Ontario since it s inception in 1989; as the Toronto Biotechnology Initiative (TBI) The City of Toronto is currently: An institutional member of LSO A Platinum sponsor of LSO Is represented on the LSO board of directors Contributes space for many of our educational and networking events Volunteers time and support for LSO mentorship programs

13 13 Recommendations LSO sincerely appreciates the continued support of the City of Toronto as a Platinum Sponsor in 2014 LSO requests that the City consider an additional one-time sponsorship to help LSO deliver the key strategic initiatives detailed in this presentation: An Ontario Life Sciences Benchmarking Report A Common Vision Paper An Enhanced Communications & Marketing Platform