Ontario’s life sciences sector is already a major driver of economic growth. With more than 3,500 companies, 88,000 skilled workers, and $15 billion in annual GDP, the foundation is strong. But we are not yet reaching our full potential.
Companies face real and persistent barriers: constrained access to capital, a shortage of wet lab space, difficulty attracting experienced talent, and complex pathways to the Canadian market. These challenges are holding back growth, innovation, and investment in one of Ontario’s most promising sectors.
The Winning Formula Action Plan and Playbooks outline the steps government and industry must take to unlock Ontario’s potential and compete on the global stage.
Playbook 1: Unlocking Capital
Innovators shouldn’t have to leave the country for funding. We must de-risk life science investments and build a domestic capital environment that keeps IP, jobs, and investment returns at home.
Playbook 2: Accelerating Wet Lab Construction
The Toronto-Waterloo corridor has a shortage of wet lab space, with vacancy rates less than 1%. We must create the conditions to build more wet lab space, giving companies access to the critical resources they need to grow.
Playbook 3: Strengthening Talent Pipelines
Ontario’s talent pipeline is strong at the entry level, but weak where it matters most: C-suite leaders, market-ready scientists, and manufacturing specialists. We need to close the experienced talent gap.
Playbook 4: Streamlining the path to market
It takes 2.5 years for a drug to go from approval to reimbursement in Canada — three times longer than in the U.S. That’s unacceptable. Life sciences companies face challenges accessing the Canadian market. We must create an environment that helps our companies operate and thrive at home.
