Call it a reflection of the Thunder Bay entrepreneurial spirit or willingness from council to increase economic growth, either way the public and private sectors are moving aggressively to create a fund aimed at marketing and enhancing the biotechnology-health sector.
Approximately six private organizations are sitting down to establish the Biotechnology Marketing, Innovation and Development Fund worth up to $700,000, Derik Brandt, manager of the tourism and economic division for Thunder Bay says. City council has agreed to set aside $150,000 for the fund, while $75,000 is expected to be raised from the private sector. Members are also hoping for $225,000 from provincial and federal governments.
“The fund will be used to promote the City of Thunder Bay and our assets in biotechnology,” Brandt adds.
The assets Brandt is referring to are the existing local organizations and new firms connected to the biotechnology field in the northwest.
Private sector momentum is what is driving the fund.
“(Private sector organizations) are telling us what they want to see us do, what conferences they want us to attend and what promotional literature we should be creating,” Brandt explains, adding that speakers will also be brought in to encourage innovation within the sector.
The private agencies, which have not been disclosed, have committed to financial funding. One representative from each organization will be designing the plan, then bringing it to council for approval once complete.
“We have made a requirement; you can’t be at the table unless your prepared to make a financial commitment,” he says.
The whole area relating to health and biotechnology has been a hot bed of activity for the city.
Siemens is negotiating with the city on a potential partnership, and two biotechnology firms in southern Ontario are considering relocating to Thunder Bay.
John Douglas, president and CEO of Ventus Energy Inc. and managing director of Douglas Capital Inc. , says they are searching for temporary lab space and qualified people to begin the first steps of relocating the biotechnology companies.
“We are looking for an existing facility to work in or someone who could do contract work for us right now,” Douglas says.
He will be meeting with another organization from Toronto to determine the optimum benefits of either keeping the firms in the city or moving them to Thunder Bay.
An Ottawa developer is also interested in building a biocentre, while a news release from the federal government indicates Thunder Bay may have been chosen as a sub office for public health on Aboriginal issues. Minister of State for Public Health Dr. Carolyn Bennett announced the creation of six national collaborating centres for public health as an extension of new Public Health Agency of Canada.
“Northern Ontario Medical School will be one of the centres of collaboration, and I believe Thunder Bay campus is taking the lead on Aboriginal issues, while Sudbury will be taking the lead on Francophone issues,” Brandt explains.
Lakehead University plays an integral role in the development of the biotechnology cluster.
“We would not be where we are today without Lakehead University and would not be able to advance the biotechnology sector without them.”
Plans are still in the design stage and a complete report will be presented to council in September.
