At­lantic busi­nesses in­vest­ing in ge­nomics

The Aurora (Labrador City) - - Editorial -

At­lantic Canada’s lack­lus­tre per­for­mance on the re­cent Con­fer­ence Board of Canada In­no­va­tion Re­port Card points to sev­eral key fac­tors that are drag­ging down our re­gion’s pro­duc­tiv­ity, eco­nomic growth and job cre­ation.

One of these key fac­tors is busi­ness enterprise R&D spend­ing, or BERD. Es­sen­tially, BERD is an indi­ca­tor of busi­ness in­vest­ment in in­no­va­tion. How much com­pa­nies spend on R&D is in­cred­i­bly im­por­tant be­cause it sig­nals a com­mit­ment to new ideas in­creas­ing the like­li­hood of be­com­ing new prod­ucts, pro­cesses or ser­vices.

Genome At­lantic and our busi­ness clients are part of the so­lu­tion. Pri­vate-sec­tor in­vest­ment makes up about one-quar­ter of our cu­mu­la­tive port­fo­lio of ap­prox­i­mately $100 mil­lion in ap­plied ge­nomics R&D projects since our in­cep­tion in 2000. That pro­por­tion has in­creased over the years as we im­ple­mented an en­duser led strat­egy — from three per cent in 2008 to an av­er­age of 22 per cent over the last three years — and we ex­pect to see the tra­jec­tory con­tinue up­wards.

The rea­sons are sim­ple. As DNA se­quenc­ing be­comes cheaper and more ac­ces­si­ble, Dna-based so­lu­tions are find­ing broader ap­pli­ca­tions — in our re­source in­dus­tries, in hu­man health, in clean tech­nolo­gies and en­vi­ron­men­tal stew­ard­ship, and in com­bat­ting the effects of cli­mate change. Be­cause Genome At­lantic’s fo­cus is on the end-user, an ever-in­creas­ing num­ber of busi­nesses are look­ing to us for help in find­ing the re­search tal­ent and part­ner­ships that can help them solve real-world prob­lems.

At­lantic Cana­dian busi­nesses rec­og­nize the crit­i­cal im­por­tance of ge­nomics and are in­vest­ing in these cut­ting-edge tech­nolo­gies to help them com­pete glob­ally. In part­ner­ship, we are driv­ing in­no­va­tion and help­ing to take the At­lantic Cana­dian econ­omy where it needs to go.

For more in­for­ma­tion: http:// genomeat­­lantic-part-in­no­va­tion-so­lu­tion/.

Steve Armstrong,

Pres­i­dent & CEO, Genome At­lantic

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.