This profile, jointly produced by Montréal InVivo—the Life Sciences and Health Technologies (LSHT) Cluster of Metro Montréal—and Montréal International, provides an overview of Greater Montréal’s LSHT industry. The profile focuses on major companies/organizations and sector highlights. The publication also includes several testimonials from executives that showcase the sheer range of know-how and creative synergy that exist in the industry.
The profile is an invaluable tool for representing Québec firms to potential clients during local and international missions, in addition to promoting and prospecting direct foreign investments.
The LSHT industry in Greater Montréal is:
A critical mass of talent and businesses: about 45,000 jobs at some 600 facilities
- Internationally-renowned companies in four sub-sectors of activity: Pharmaceuticals, Health Technologies, Biotechnologies and Contract Manufacturing/Research.3
- Ranked 6th for the concentration of LSHT jobs, in 2011, among major North American metropolitan areas.
- More than 27,000 students enrolled in university programs related to LSHT for the 2010 Fall semester and nearly 6,300 graduates in 2010.
Research and development (R&D) expertise: more than 12,000 researchers and professionals working at over 300 public and parapublic research organizations in 2011
- Internationally-renowned areas of expertise, including: cancer, genetics, genomics and proteomics, cardiovascular and metabolic diseases, neuroscience and mental health, personalized healthcare, aging, etc.
- Close to $1.8 billion in grants and subsidies awarded by the Canadian Institutes of Health Research (CIHR) and the Natural Sciences and Engineering Research Council of Canada (NSERC) from 2006 to 2011—a record in Canada.
An average cost advantage of more than 14% in LSHT, in 2012, compared to major cities such as Toronto, Philadelphia, Boston, San Diego and London.
A competitive business environment: a tax burden for R&D firms in 2012 that is two to five times lower than other major Western cities.
- Generous incentives such as R&D tax credits from the governments of Canada and Québec account for a large part of this cost advantage.
- More than $1.6 billion in venture capital investments in the LSHT sector between 2001 and 2011-close to 33% of the national total- a record in Canada.
- Strategies, policies and other initiatives that favour business development.
Watch the testimonial videos.