Stephen Lund ICD.Dโ€™s Post

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Chief Executive Officer at Toronto Global

The Life Science industry is poised for massive global growth, which *๐™˜๐™ค๐™ช๐™ก๐™™* benefit the Toronto region by attracting more foreign-owned companies and improving the retention of home-grown companies looking to scale. While we have many of the required resources to make this a world-class destination for the world's leading life sciences businesses: an incredibly well-educated talent pool, abundance of research capabilities in relevant areas from artificial intelligence to regenerative medicine and some of the world's top thinkers in the space, one thing we *don't* have is an adequate amount of wet lab space. The latest CBRE Toronto Lab Market report puts current demand at 1.7 million square feet - we have nowhere near this amount of space. If companies canโ€™t find space here, they will leave for a jurisdiction that offers it. There is progress being made. Last year I spoke at the groundbreaking ceremony of Seeker Labs 155,000 sqft Catalyst development, purpose-built for life sciences scheduled to open its doors less than a year from now. SpinUp at UTM, an incubator for early stage companies at University of Toronto (Mississauga), recently welcomed their first cohort. And, just last week I was fortunate to be a part of SPEC Labs' announcement of a 20,000 sqft multi-tenant wet lab facility in Mississauga, opening Q2 2025. Momentum is promising but we cannot afford to take our foot off the gas. This is a pivotal moment for the Toronto Region in the race to be a top global destination for Life Sciences. ๐™‡๐™š๐™ฉ'๐™จ ๐™ ๐™š๐™š๐™ฅ ๐™ฉ๐™๐™š ๐™ฅ๐™–๐™˜๐™š. For more on the latest in and around the Toronto Region, sign up for the Toronto Global newsletter, delivered straight to your inbox every Tuesday. Link in comments.

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Val Wise

Marketing & Localization @ Top Influencer / Smart Cities

1mo

Love this Stephen Lund ICD.D

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