The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Highlights of Canada’s 2010 Federal Budget For Biotech, Venture Capital and Innovation

 Here’s the highlight reel.  More details and analysis here.

  1. $45 million over five years to establish a post-doctoral fellowship program.
  2. $222 million in funding over five years for TRIUMF, Canada’s premier national laboratory for nuclear and particle physics research.
  3. Additional $32 million per year for Canada’s research granting councils, plus an additional $8 million per year to the Indirect Costs of Research Program.
  4. Providing Genome Canada with an additional $75 million for genomics research.
  5. Doubling the budget of the College and Community Innovation Program with an additional $15 million per year.
  6. $135 million over two years to the National Research Council Canada’s regional innovation clusters program.
  7. $48 million over two years for research, development and application of medical isotopes.
  8. $497 million over five years to develop the RADARSAT Constellation Mission.
  9. Launching a new Small and Medium-sized Enterprise Innovation Commercialization Program with $40 million over two years.
  10. Renewing and making ongoing $49 million in annual funding for the regional development agencies to support innovation across Canada.
  11. Improving Canada’s system of international taxation to facilitate investment, cut red tape, and streamline the compliance process associated with the taxation of cross-border activity.

Closer look at #9 coming up…  Is #11 the end of 116?  Checking…

The full budget homepage is here: http://www.budget.gc.ca/2010/home-accueil-eng.html

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4 responses to “Highlights of Canada’s 2010 Federal Budget For Biotech, Venture Capital and Innovation

  1. Pingback: More Highlights in Canada’s 2010 Federal Budget From Biotech, Venture Capital and Innovation Groups « The Cross-Border Biotech Blog

  2. Sam March 4, 2010 at 10:59 pm

    I’m confused the 2009 budget stated that CIHR, NSERC, and SSHRC will be “streamlining operations and aligning programs with the objectives of the Government’s Science and Technology Strategy and national research priorities.” The budget suggests that $147.9-million will be cut from these budgets in the next three years… where is the extra $32 million?

  3. S. Pelech - Kinexus March 8, 2010 at 5:42 pm

    The proposed budgets for Federal spending on science and technology is reasonable in view of the current economic situation in Canada and the importance of science and education in maintaining the competitiveness of Canada in the future in a knowledge-based global economy. However, I would have much preferred to actually have seen less funding for GenomeCanada and instead more funding for basic research in smaller scale projects through the Natural Sciences and Engineering Research Council (NSERC) and the Canadian Institutes for Health Research (CIHR). I believe that there has been a very poor economic return from the GenomeCanada projects to health care and the biotech industry. The GenomeCanada projects have been targeted to primarily whole genome sequencing studies at enormous cost with very little follow up and practical utility in the foreseeable future by health care professionals and industry. While charities such as the Heart & Stroke Foundation of Canada are concerned about the impact on health-related funding, the reality is that very little of the university-based research supported by charitable organizations in Canada also translate into useful applications. I believe that the Canadian government objective of more commercialization of funded research is well placed and in the best interest of tax payers. However, this is better achieved with stronger support for the biotech industry, which is floundering much more than the universities and other research industries in Canada at this time. If the Government truly wants to stimulate the development of improved diagnostics, therapeutics and employment opportunities for university graduates, then it should permit charitable organizations to directly fund commercial research in stronger academic-industry partnerships. At Kinexus Bioinformatics Corporation, we operate a hybrid university-industry facility that provides research support and training for other university and industry-based labs. Much of our research is freely accessible to the broader research community. Increased support for the National Research Council of Canada’s Industrial research Assistance Program (NRC-IRAP) is one of many mechanisms by which the Federal government in Canada to support more initiatives like Kinexus and met its stated objective of more commercially-focused biomedical research.

  4. Venture Capital Canada April 15, 2010 at 1:02 pm

    Thanks a lot for a very concise post. For those interested in private capital start-ups, check Podium Finds in Calgary. We’re launching our first corporation with a launch party at Flames Central on April 28th. Hope to see those of you that are in Calgary at the event.

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