The Life Science industry is poised for massive global growth, which *๐๐ค๐ช๐ก๐* 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 canโt 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. ๐๐๐ฉ'๐จ ๐ ๐๐๐ฅ ๐ฉ๐๐ ๐ฅ๐๐๐. 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.
Love this Stephen Lund ICD.D
Chief Executive Officer at Toronto Global
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