Importance of FACIT and other seed stage venture groups in building the local innovation ecosystem

Life sciences commercialization in Canada has a seed venture financing gap where companies fail to establish local roots and intellectual property gravitates to the US, reinforcing the export of jobs and industry experience. By contrast, information technology has a contiguous domestic financing pathway from seed to scale. Thank you to BDC for their 2024 edition of Canada’s Venture Capital Landscape report. The report highlights what’s ‘lost in translation’ and the importance of FACIT and others solving the problem for life sciences innovations.

Realizing the potential of our world leading science and the jobs of the $10T healthcare market begins with entrepreneurs, Ontario First seed ventures and homegrown intellectual property. This ultimately influences the location of jobs, capitalizes on the value of taxpayer investment in local intellectual property, builds the opportunity for industrial experience and returns capital to the Canadian ecosystem.

Happy Canada Day!

Read BDC’s report here.

About FACIT        
FACIT is an award-winning commercialization venture firm that builds companies with entrepreneurs to accelerate oncology innovation, with a portfolio that has attracted more than $1.6 billion in investment to Ontario. Blending industry experience, capital and the unsurpassed clinician-scientist network of its strategic partner the Ontario Institute for Cancer Research (OICR), FACIT capitalizes on the province’s investment in research and healthcare to the benefit of the local economy and patients worldwide. Cancer Breakthroughs. Realized. facit.ca