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“Where Research and Business Meet”
Healthcare is one of the fastest growing economic sectors in the world. Toronto has one of the largest medical and biotech clusters of any metropolitan area in North America. More than one billion dollars ($1 billion) is directed annually to research activities in the city’s aptly named “Discovery District”, a global centre of groundbreaking research in bioinformatics as well as new diagnostic and therapeutic tools for every imaginable disease. Discovery District researchers have a world-class reputation for break-throughs ranging from breast cancer and cardiovascular disease to Alzheimer’s and cystic fibrosis. The biomedical clusters growth has been dramatic, in recent years, and all indications are that this rapid pace will continue into the future. In total, the biomedical industry in Toronto has over 700 companies providing jobs for more than 80,000 people.
Toronto’s Discovery District is a unique 2.5 square kilometre research park that is fully integrated into Toronto’s down town core. One block away is Canada’s financial centre and the seat of the Ontario Government. The Discovery District is probably the most concentrated mix of research, bio-medical companies, finance and business support services anywhere in the world. The Centrepiece is university of Toronto and its affiliated teaching and research hospitals which is ranked in the top three North American institutions for medical publications and citations – a measure of medical science impact. Close by is Canada’s financial and business centre – Bay Street, with expert advisors on legal, accounting and venture capital investment. Advisors who are well versed in the special needs of medical and biotechnology matters.
The Discovery District continues to grow …and to attract investment. More than $500 million has recently been invested in new infrastructure that will support basic research and the commercialization of new scientific discoveries in the Toronto area. The MaRS centre, 750,000 square feet of research labs, business incubator facilities and business services, has emerged as the new bio-medical convergence centre and next year is expected to announce an additional one million square feed of research and commercial space for advanced technology research and commercialization. Very close by is the new Donnelly Centre for Cellular and Bio-Molecular Research, a multi-story, $110 million research centre and the new Leslie Dan Faculty of Pharmacy. These are part of a series of major capital investments that will house a new generation of Biomedical researchers and continue to keep Toronto at the forefront of bio-medical excellence for decades to come.
Toronto’s Discovery District is more than just world class science and discovery. It is working hard to take that new knowledge and create new opportunities for business. Contact Toronto Economic Development or BioDiscovery Toronto for access to any one of the institutions profiled in this brochure and find out how you can benefit commercially from the innovative technologies that can be found in Toronto.
Toronto Economic Development is ready to help you, as well. The expert team of specialists can answer all of your questions about business and investment opportunities in our community. Toronto Economic Development also offers an in-depth biomedical cluster profile and liaison with other government agencies and with industry.
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