Montreal Boosts Biotech Efforts

Canada Economic Development announced some good news for the Montreal area. It will invest $600,000 in the Cité, which is a new agency that will encourage the establishment of some 35 new biotech businesses by 2005, along with the award of some $200 million in research funds by 2010, through different types of inter-university co-operation programs. The agency will oversee the operation and application of facilities and services, the organization and promotion of the Cité itself and the development and enhancement of existing know-how within the park.

Carole-Marie Allard, Member of Parliament for Laval-Est said "Encouragement of the startup, growth and attraction of businesses and world class centres of expertise in the biotechnology sector will greatly contribute to the development of the knowledge economy in Quebec and in the rest of the country."

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Don't forget to mark your calendar to attend the International Economic Development Council (IEDC) meeting, which will be held in Montreal on June 4-6. It should be a very interesting conference. This will be a great opportunity to learn more about Canadian economic development policies and practices.