The 2022-2025 Quebec Life Sciences Strategy was presented on Thursday by the Minister of Economy and Innovation, Pierre Fitzgibbon during the EFFERVESCENCE event which brought together industry players. Quebec is allocating $211 million in budgetary appropriations which should generate investments of nearly $2 billion.
After being sidelined for years, the strategic nature of life sciences for the Quebec economy has been confirmed with the pandemic. As provided for in its March budget, the government has renewed the Québec Life Sciences Strategy, first initiated in 2017.
“In certain strategic niches such as life sciences, we do not want to depend on an aircraft that will not arrive from China one day,” said Minister Pierre Fitzgibbon during a meeting with the media after the launch of The strategy.
This five-pronged strategy will be essential for the implementation of the Health Plan announced in March by the Minister of Health and Social Services, Christian Dubé.
“Mr. Dubé in health has important issues to resolve. Innovation is going to be a part of solving the problems, explained Minister Fitzgibbon. We are talking, for example, about technology for emergency triage, the well-known Dialogue company that we use now. We, here in the economy, our role is to find innovations that will make the Ministry of Health and Social Services say, I need it to solve my problems. »
The government is allocating $211 million in budgetary appropriations to the life sciences sector which will enter into government spending, says the Minister of the Economy.
“When we look at the leverage effect, the 211 million in the five axes will represent 570 million in financial interventions by the government and this amount, given that we are not financing 100%, will perhaps be 2 billion . »
Among the five areas of intervention in question, Québec wishes to develop human capital, attract talent, support the creation and growth of innovative businesses, attract and materialize investment projects and stimulate the commercialization of innovations.
To develop its plan, the Department consulted ecosystem stakeholders, whether multinationals, SMEs, start-ups, higher education institutions, health and social services institutions, organizations or other ministries. More than twenty briefs were received.
The Life Sciences Strategy launched in 2017 expected to attract $4 million in private sector investment in Quebec by 2022. The Minister confirmed that this amount has been achieved.
The life sciences sector includes nearly 715 companies, which employ some 36,930 people in Quebec.