Canada Govts Invest in Biotechnology to Enhance Competitiveness of Saskatchewan's Agricultural Industry

Canadian Saskatchewan producers will benefit from increased investment in biotechnology with the support of the federal and provincial governments. Federal Agriculture Minister Gerry Ritz and Saskatchewan Agriculture Minister Lyle Stewart recently announced an investment under Growing Forward 2 for Ag-West Bio Inc. to boost commercialization and marketing efforts.

"Our Government is committed to keeping the Saskatchewan agriculture industry on the leading edge," said Minister Ritz. "This support will help Ag-West Bio continue to drive agricultural innovation and benefit the sector through increased productivity, jobs and economic growth. Investments like these will not only support the biotech sector here in Saskatchewan, but will strengthen our economy for the benefit of the entire country."

"Agriculture research remains a priority for our Government," Minister Stewart said.  "Ag-West Bio's ability to move research to the market plays an important role in the continued success of Saskatchewan's economy. This investment will help achieve goals set out in the Saskatchewan Plan for Growth."

The investment of $7.5million represents an increase of $2.5 million over the previous five years of funding.  Ag-West Bio will use the support to provide entrepreneurs advice, support and guidance in commercializing and marketing their products and emerging technologies.

The Saskatchewan Plan for Growth aims to establish Saskatchewan as an international leader in bioscience by 2020. To help reach this goal and re-confirm the Government's commitment to science, research and innovation, this year's Provincial Budget included a record investment of $27.7 million in agricultural research and innovation, an increase of 104 per cent since 2007.

Ag-West Bio has a mandate to help grow the province's bioscience sector. The mandate is achieved through business support, communications and collaboration with numerous partners. Their 2013-18 strategic plan looks to strengthen Saskatchewan's bioeconomy, with investment in new companies to support Saskatchewan's goal of becoming a global leader in bioscience by 2020.

"Our agriculture industry is rapidly evolving," Dr. Wilf Keller, President and CEO of Ag-West Bio, said. "Companies developing the innovations and products to move our industry forward need assistance for them to be successful. This continued funding allows us to help shape, nurture and support the development of the next generation of agriculture industries in Saskatchewan."

The announcement is supported through the federal-provincial-territorial Growing Forward 2 policy framework. The federal and provincial governments will invest $388 million in Saskatchewan for strategic initiatives under GF2 over the next five years, an increase of more than $25 million per year over the previous Growing Forward framework.