BC Life-Sciences and Bio Manufacturing Provincial Hub

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BC Life-Sciences and Bio Manufacturing Provincial Hub

KEY TAKEAWAYS

  • British Columbia is home to over 2,000 life sciences companies, which have over 18,000 employees.
  • In 2018, British Columbia’s life sciences industry generated $5.4 billion in revenue, produced $1.6 billion in GDP, and exported $484 million in goods and services.
  • Research institutions in British Columbia supporting the life sciences industry include the Vancouver Coastal Health Research and Life Sciences Institute at the University of British Columbia.

INTRODUCTION

This research supports the hypothesis that there is a strong business case for a company to locate a life sciences/bio-manufacturing hub in British Columbia. We have provided findings about the current business environment and workforce in British Columbia. We have summarized the research findings in the attached presentation template.

CURRENT BUSINESS ENVIRONMENT

State of the Market

  • In 2018, British Columbia’s life sciences industry generated $5.4 billion in revenue, produced $1.6 billion in GDP, and exported $484 million in goods and services.
  • Over 1,200 clinical trials are being undertaken in the province of British Columbia across 100 sites.

Competitors

  • In 2020, the majority of venture capital raised by life sciences companies was raised by AbCellera Biologics, Zymeworks, Aurinia Pharmaceuticals, and Xenon Pharmaceuticals.
  • Life science companies with the largest work force in British Columbia include Stem Cell Technologies, Kardium inc., AbCellera, Zymeworks, and Abgen-British Columbia inc.

Venture Capital Attractiveness

  • In 2020, the biotechnology industry in British Columbia raised $2.3 billion in venture capital. It represents a 123% growth in capital raised from $700 million in 2019.
  • Vancouver is ranked position 21 among the top 280 global ecosystems for life sciences. It was the only Canadian city in the top 25 rankings in the Startup Genome ranking.

Research and Grant Funding

  • In 2022, the province of British Columbia allocated $116.6 million for health research and $78 million for genome research. The funding will promote life sciences and bio-manufacturing in British Columbia as part of the Stronger British Columbia Economic Plan.
  • Research institutions in British Columbia supporting the life sciences industry include the Vancouver Coastal Health Research and Life Sciences Institute at the University of British Columbia.

Trade Associations and Government Support

  • Over 200 life sciences companies are members of the Life Sciences British Columbia trade association. Additionally, life sciences companies in British Columbia can join BC Tech Association to engage with other tech companies.
  • Life sciences companies in British Columbia can join provincial and federal initiatives to promote the industry including the Digital Technology Supercluster and Cascadia Innovation Corridor. Other supportive governmental entities in British Columbia include Innovate BC and Western Economic Diversification.

WORKFORCE

Availability of Talent

  • Over 17,300 people are employed in the life sciences industry in British Columbia. Employment in the industry is growing at 5.6% annually ranking the industry as one of the most attractive industries in British Columbia.
  • Vancouver was the third fastest-growing tech hub in North America as it added over 13,000 jobs over the last two years.
  • British Columbia had a net immigration of over 100,000 people in 2021, which was its highest in 60 years. It included 67,141 people from abroad and 33,656 people came from other Canadian provinces.

Work Fairs

  • Career Connect Day, which is the largest STEM job fair in British Columbia, connects skilled talent with job opportunities in the life sciences industry. The annual event serves to match access to skilled talent with job opportunities in the industry.

Education Programs

  • About 7 universities in British Columbia offer life sciences degrees and courses: Langara College offers 1 life sciences course, the University of Northern British Columbia offers two life sciences courses, Thompson Rivers University offers two life sciences courses, the University of Victoria offers 1 life sciences course, Coast Mountain College offers two life sciences courses, Simon Fraser University offers 1 life sciences course, and University of British Columbia offers 2 life sciences courses.

RESEARCH STRATEGY

To provide information on a strong business case for a company to locate a life sciences/bio-manufacturing hub in British Columbia, we leveraged the most reputable sources available in the public domain. We scoured through news articles, industry websites, and government reports such as Financial Post and Life Sciences British Columbia. All the requested information was found available in the public domain. We supported the hypothesis that there is a strong business case for a company to locate a life sciences / bio manufacturing hub in British Columbia based on our research findings.

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