The Cross-Border Biotech Blog

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

Reactions to Canada’s 2010 Federal Budget

Reaction in the biotech and innovation community to the 2010 budget was generally positive, since they (we) got something in a year when most groups got nothing.  As Rob Annan put it over at Researcher Forum:

“What a difference a year makes… Funding increases, though relatively small, are made more significant by the context of spending restraint evidenced elsewhere in the budget.”

There was also much celebration of the demise of Section 116, including from BIOTECanada (pdf), and the CVCA, both of which had recommended the change, and from Communitech, the organization that represents Waterloo Region tech companies.  Mark McQueen over at Wellington Capital blasphemously refuses to hail the event as Our Salvation, pointing out that (1) there has been a lot of investment by U.S. VCs even with 116 in place, (2) U.S. VCs aren’t having a great year either, and (3) those that are may not be as excited as we hope about early-stage Canadian deals.

Directly funded organizations wrote prompt thank-you notes:

  • TRIUMF, slated to receive $222 million over the next 5 years for its work on particle and nuclear physics, described the budget as a “firm commitment to science & technology.”
  • The Canadian Youth Business Foundation (CYBF), seeing its $10 million in funding, characterized the move as an “investment in young entrepreneurs.”

Others, perhaps encouraged by this year’s $75 million allocated to Genome Canada following last year’s kerfuffle, have been quick to point out other flaws they perceive in the budget as well:

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One response to “Reactions to Canada’s 2010 Federal Budget

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