TORONTO: The Ontario government is investing more than $5 million to train and mentor up to 150 health sciences professionals on how to secure investments for their innovative medical solutions and bring them to market.
The project, led by the Ontario Bioscience Innovation Organization, will support the creation of new pharmaceuticals, vaccines and other medical tools.
Details were provided on Tuesday by Monte McNaughton, Minister of Labour, Training and Skills Development, and Nina Tangri, MPP for Mississauga— Streetsville and Parliamentary Assistant to the Minister of Economic Development, Job Creation and Trade.
“We know there is a surging demand for new health products right now, and this program will help make sure our workers have the skills companies need to become leaders in the global health science sector,” said Minister McNaughton.
Ontario Bioscience Innovation Organization’s free training will be delivered virtually, starting in June. Program participants from bioscience companies will learn advanced business, financial and intellectual property commercialization skills that will help them secure investments, scale and grow.
Participants will also receive valuable one-on-one mentorship with business experts. Gail Garland, CEO of OBIO said: “With OBIO’s support, health science companies are given the opportunity to grow and stay in Ontario, where they can create jobs and contribute to the economy.”
This program is part of Ontario’s $115 million Skills Development Fund. Tangri said: “This new program will enhance our world-class ecosystem and further develop our workers’ skills and ensure that companies have access to the skills and talent needed to invest and expand.”
• OBIO is based in Toronto and provides strategy, programming, policy development and advocacy to further the commercialization of Ontario’s human health science companies through partnerships with industry, the bioscience investment community, academia, patients and government.
• In 2020, an average of 870,000 people were working in Ontario’s health care sector.