27 Juli 2011

Canada Missing Its Potential in Bioproducts

Study reveals barriers preventing growth in the bioproduct industry

A report by Richard Ivey School of Business scanning the landscape for bioproducts – based on Statistics Canada’s Bioproduct Production and Development Survey (2003, 2006 and 2009) – analyzes Canada’s strengths and weaknesses in the bioproducts industry and makes recommendations for growth and development. Canada has long been known to have the essential ingredients to create a profitable bioproduct industry – abundant biomass, a strong industrial sector and the scientific capabilities needed for research and development. The report reveals that the exact opposite may be true. The report contends that the Canadian landscape is underdeveloped, lacking comprehensive planning and vulnerable to foreign takeover.

“The survey results suggest that somehow Canada is missing its potential in bioproducts.” Revenue, exports and profits are far below 2003 levels. Spending on research and development is also down. The report indicates that only $221 million was invested in Canadian bioproduct firms in 2009, with the majority coming from government sources.

… Full text: www.ivey.uwo.ca/media/releases/2011/110727.htm

Further information
The full report can be downloaded here (PDF-Document)

Source: Ivey, press release, 2011-07-27.

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