​A new report from Invest Vancouver, Life Sciences in Metro Vancouver: Shaping a Globally Prominent R&D Hub, highlights the many ways our region’s life sciences industry is attracting global attention and identifies key recommendations to encourage its growth.

Metro Vancouver’s vibrant life sciences industry has made a number of major contributions to public health in recent years, including developing a crucial COVID-19 vaccine technology, advancing cancer treatment, and delivering antibody-based medicines for diseases such as COVID-19 and cancer. Our region also has the fastest-growing life sciences company in Canada, AbCellera.

“It’s time for Metro Vancouver to claim its reputation as Canada’s life sciences research and development hub. We are developing scientific innovations that are shaping our world today, and we need to ensure we can continue driving these advancements in health care for years to come,” said Jacquie Griffiths, President of Invest Vancouver. “This research highlights the most pressing roadblocks for the industry and how to address them. I look forward to seeing this report further advance the industry so it can rise to even greater global prominence.”

The report features findings from comprehensive interviews with firms and an analysis of over 20 years of economic data. This approach taken by Invest Vancouver provides an extensive and current understanding of the region as a life sciences hub and what actions can support additional growth including controlling costs, accessing web lab space, and attracting talent.

Working closely with other levels of government has further amplified the collaboration and information sharing needed to support life sciences. The Province of British Columbia’s recently released B.C. Life Sciences and Biomanufacturing Strategy is one of the most recent examples of alignment and common purpose.

Along with the report, Invest Vancouver’s Embrace the Lab Coat campaign aims to boost global awareness of the industry’s successes and cement its reputation as a research and development hub. The report and campaign are being launched today at an event that will bring together government representatives, industry leaders, and associations to discuss its findings.

Key report recommendations:

Provide “wet” lab space    

The lack of “wet” lab space — laboratory spaces that must be customized due to the specialized or regulated nature of the work being undertaken — is a major bottleneck for growth. Building publicly supported wet lab spaces would maintain the industry’s position as a research and development hub and spur growth.

Attract the right talent

The industry relies on a pool of highly trained, specialized workers. Increasing the size of the talent pool is critical to industry growth. Alongside talent development, the region needs to actively attract those with the skill sets required to grow the industry through dedicated talent attraction staff, recruitment missions, and international student retention.

Help with cost controls

The life sciences industry is capital intensive, therefore controlling costs and stretching dollars is a matter of survival early on. Economies of scale, such as through pooled buying power, are one way to help individual firms lower their costs.

Fast facts:

• There are 15,500 export-oriented life science workers in the Metro Vancouver region.
• Invest Vancouver’s Strategic Industry Analytics Project revealed that in each segment of the industry, contribution to regional gross domestic product has increased at least 2.5 times, with the strongest growth occurring over the past five years.
• The Metro Vancouver region is Canada’s leading life sciences startup ecosystem, according to Start Up Genome.
• The region’s world-leading science has made significant contributions in drug delivery, antibody discovery, and precision medicine.

Quotes:

Brenda Bailey, B.C. Minister of Jobs, Economic Development and Innovation

“We are investing in the people and infrastructure needed in Metro Vancouver and B.C. to ensure we better capitalize on the life sciences value chain, from discovery through to clinical trials and manufacturing. With the launch of the B.C. Life Sciences and Biomanufacturing Strategy, we will continue to nurture and train new talent through the National Biomanufacturing Training Centre, develop new lab space, and leverage the strengths of local businesses as they grow and create good jobs for British Columbians. The research from Invest Vancouver is another tool that will help us build on the strengths of B.C.’s life sciences sector.”

Linda Buchanan, Chair, Invest Vancouver Management Board

“As a mayor and as a public health nurse I have seen the positive impacts that advancements and innovations in the life sciences industry can have for individual health as well as for our economy. Invest Vancouver’s life science report highlights the critical role this industry plays in building a diverse, future-focused, and resilient regional economy for all. As the region’s economic development leadership service, this research will inform how we can unlock additional growth and investment opportunities in life sciences across Metro Vancouver.”

Kenneth Galbraith, Chair & CEO of Zymeworks

“Invest Vancouver’s latest report captures very well the strengths and needs of the life sciences industry. Coordination across government, our industry associations, and investment attraction agencies can help us overcome barriers to unlocking further growth in an industry that is increasingly playing a prominent role in our regional economy.”

Wendy Hurlburt, President & CEO, Life Sciences BC

“Life Sciences BC is excited to see the increasing momentum and coordination of efforts across governments in supporting BC’s thriving life sciences sector. With the sector’s unprecedented growth, this collaboration is critical in enhancing our position as a global R&D and innovation hub leader.“

About Invest Vancouver:

Invest Vancouver is the Metro Vancouver region’s economic development leadership service, created to advance broadly shared prosperity for all residents of the region. The mission of Invest Vancouver is to position the region for success in a rapidly evolving global economy.