The Ontario Bioindustrial Innovation Network (OBIN)
With a recent contribution from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), BIC has developed the Ontario Bioindustrial Innovation Network (OBIN). OBIN will continue to support the growth of the Hybrid Chemistry Cluster in Sarnia-Lambton and to enable to launch a new Sustainable Chemistry Cluster in Eastern Ontario St. Lawrence Corridor region centred around Brockville and Maitland. BIC will offer its services for the Ontario Bioindustrial Innovation Network from this new location.
On February 13, the Honourable Melanie Joly, Minister of Economic Development and Official Languages, visited BIC's Sarnia location and announced $15 million to create a new sustainable chemistry hub to help 150 innovative clean tech companies scale up and grow and create and maintain 700 jobs in southern Ontario.
BIC's OBIN will 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 $1 million each) from the Sustainable Chemistry Alliance Investment Fund (SCA Fund) and matching investments (minimum of $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).
To date, BIC has invested $13 million in 27 early stage companies leveraging more than $270 million of non-government investment and more than $500 million of follow-on investments. BIC has 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 Brockville Office Contact Information:
Project Manager, Bioindustrial Innovation Canada | 100 Strowger Blvd, Brockville, ON K6V 5J9
Email: [email protected]
Engineer-in-Training, Bioindustrial Innovation Canada | 100 Strowger Blvd, Brockville, ON K6V 5J9