The Ontario Bioindustrial Innovation Network (OBIN)
BIC has spent nine years building the Sarnia-Lambton Hybrid Chemistry Cluster and providing emerging companies with advice, services, knowledge, experience and financial support. BIC’s track record of job creation and investments in Ontario has been significant:
$13 million invested in 27 early stage companies leveraging more than $270 million of non-government investment and more than $500 million of follow-on investment
Created 3,600 jobs (400 direct jobs, 2,200 indirect jobs and 1,000 construction jobs). Indirect jobs include engineering, logistics, R&D, sales & service, supply chains and downstream value chains.
BIC proposes to create the “Ontario Bioindustrial Innovation Network” (OBIN) and deliver results through three fundamental ways:
Support the continued growth of the established Hybrid Chemistry Cluster in Sarnia-Lambton and launch a new Hybrid Chemistry Cluster in Eastern Ontario St. Lawrence Corridor (Leeds-Grenville). BIC will use its funding and provide its advice, services, knowledge and experience and apply it regionally to develop high performing clusters that generate jobs, create economic value and build clean technology companies. This will include utilizing the Centre for Commercialization of Sustainable Chemistry Innovation (COMM SCI) projects and investments as tools for growth.
Build stronger hybrid chemistry value chains in Southern Ontario by identifying and addressing value chain gaps. BIC will accelerate clean economic growth and support competitive technology companies to grow in southern Ontario by building robust raw material supply chains, by leveraging regional and global partners along the value chain to strengthen market pull and by removing barriers to commercialization through COMM SCI projects, and
Support emerging competitive technology companies to grow to global scale and become world-class players by providing up to four larger COMM SCI investments (up to $2-million each) from the Sustainable Chemistry Alliance Investment Fund (SCA Fund) and matching investments (up to $4-million each) from venture capital partners.
The Ontario Bioindustrial Innovation Network (OBIN) is projected to create at least equivalent outcomes over the next five years of activity in rural communities (Project timeline: April 2019 – March 2024).
“The federal government has been a strong supporter of our work at Bioindustrial Innovation Canada. With this support, BIC has successfully provided investment, advice and services to business developers of clean, green and sustainable technologies within Canada. We are thrilled to receive this investment to establish the Ontario Bioindustrial Innovation Network (OBIN). This funding will enable BIC to continue its work to strengthen the Hybrid Chemistry Cluster in Sarnia-Lambton and to enable the development of a second Sustainable Chemistry Cluster in the Eastern Ontario St. Lawrence Corridor region centred around Brockville and Maitland.”
- A.J. (Sandy) Marshall, Executive Director, Bioindustrial Innovation Canada