ANNOUNCEMENT 25 Apr 2018

The federal subsidy was provided under the Strategic Innovation Fund, a program designed to attract and support high-quality business investments by encouraging R&D that will accelerate technology transfer and commercialization of innovative products, processes and services and facilitate the growth of innovative firms.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

https://www.canada.ca/en/innovation-science-economic-development/news/2018/04/federal-and-provincial-governments-support-creation-of-biotech-manufacturing-facility-in-the-lower-mainland.html

Inception date: 25 Apr 2018 | Removal date: open ended
Still in force

Financial grant

On April 25, 2018 Minister of Innovation, Science and Economic Development Navdeep Bains announced a Can.$22.5 million (U.S.$17.3 million) investment in biotechnology company STEMCELL Technologies to build a state-of-the-art manufacturing facility. This funding will support the development of regenerative medicine products certified for use in clinical trials, the construction of a $138-million state-of-the-art manufacturing facility by 2022, and the eventual consolidation of three of STEMCELL’s Vancouver locations into a single campus in Burnaby, British Columbia.

AFFECTED SECTORS

 
352

AFFECTED PRODUCTS

 
300210
Inception date: 25 Apr 2018 | Removal date: open ended
Still in force

Financial grant

The province of British Columbia supplemented this support for STEMCELL Technologies with Can.$22.5 million (U.S.$17.3 million) of its own.

 
352
 
300210