Government strategy: Quebec is betting big on young shoots in the life sciences

Pumped up since the announcement of the establishment of Moderna in the province, the government yesterday presented its new Quebec Life Sciences Strategy.

Government strategy: Quebec is betting big on young shoots in the life sciences

Pumped up since the announcement of the establishment of Moderna in the province, the government yesterday presented its new Quebec Life Sciences Strategy. A strategy which, unlike the previous one, will focus less on attracting new projects than on supporting its existing ecosystem.

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With an envelope of $211 million over three years (2022-2025), more than half of which in the form of new appropriations, this new version replaces the old one for a period of five years (2017-2022). .

According to the Minister of Economy and Innovation, Pierre Fitzgibbon, the new strategy will allow government “interventions” of $569 million to support “direct investments” estimated in the long term at $2 billion.

New envelope of $37.5 million

Referring to his memories of the closure of a number of research centers over the past 15 years, Minister Fitzgibbon insisted on the importance of stimulating the emergence of innovative start-ups and encouraging the development of new promising niches; from “digital sciences” to “personalized medicine”.

Through this strategy, the funds devoted to attracting new investments will be considerably reduced, from $85.6 million to $5.6 million over three years. On the other hand, an envelope of $37.5 million – which did not exist before – will support the “growth of innovative businesses”.

Of the $569 million in additional "interventions" to which biotechs and others in the life sciences sector (715 companies) will have access, $375 million will come from the Economic Development Fund and $70 million from the BioMed Propulsion and Impulsion PME programs . We also expect the contribution of Investissement Québec, which could reach $200 million.


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