British Columbia is home to the seventh largest biotechnology cluster in North America

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British Columbia is home to the seventh largest biotechnology cluster in North America and is also the fastest growing cluster of its kind in Canada. It houses three of Canada’s top five biotech companies and five of the countries top ten in terms of market cap.

Not surprisingly BC companies have also attracted more investment dollars into the biotech industry in recent years than any other province in Canada at $338 million. What is surprising is that the companies making up this cluster are in the most part homegrown.

Of the 90 plus biotech companies that call BC home, approximately 70% originated as spin-offs of the University of British Columbia. The university itself boasts what is widely recognized as the best tech transfer office in the country, the University-Industry Liaison Office (UILO). In all, the UILO has helped create 120 spin-off companies and the UILO’s track record in securing U.S. patents is unrivalled by any other Canadian university.

As a whole, one of the biggest reasons for the success of Biotechnology in BC is the assistance the industry gets from the provincial government. The province has done its fair share in this regard providing an atmosphere conducive to innovation.
For example, British Columbia was the first place in North America where companies were given a tax refund based on revenue generated from life science patents. Current tax incentives for qualifying corporations include B.C.'s SRED tax credit and Corporate Income Tax Venture Capital Credit for corporations.

The basic makeup of BC's biotechnology industry lies heavily in the health care sector with the majority of companies specializing in the development biopharmaceutical and biomedical applications. In addition, Genome British Columbia has become a catalyst of a vibrant genomics-driven life sciences cluster on the west coast, which rivals the best in the country.

Established in 2000, Genome British Columbia has built up a portfolio of 28 projects and four science and technology platforms and its research program is valued at over $300 million.

According to Jennifer Boon, communications officer for Genome BC, Genome BC launched nine Competition III projects in 2006 valued at $82.5 million over the next three years. And with provincial support, it is sponsoring an applied genomics program in 2007.

"By working collaboratively with government, universities and industry, Genome BC is providing significant social and economic benefits for both the province of British Columbia and Canada," said Boon.
Adds Boon, "Genomic and proteomics are becoming much more commonplace in our daily lives. We’re very excited about the future."