WINNIPEG - The province has announced plans to spend $2 million on a new commercialization centre which is expected to help biomedical entrepreneurs. Formally titled The Centre for the Commercialization of Biomedical Technology (CCBT), the centre will assist entrepreneurs in developing and commercializing scientific products and services.

Specifically, the centre will offer programs to help entrepreneurs conduct research, and learn technology and management skills.

The funding project is part of the province’s Innovation Framework plan, which is to increase the number of biotechnology companies in Manitoba by 50 per cent by 2007. The plan also includes the creation of two commercialization centres by 2005. The Centre, which is set to begin construction in 2004, is a partnership between the province and the National Research Council (NRC).

The province has additional plans to pour a total of $22 million into research funding at the university and academic levels.

Funding will be divided among these projects:

• $ 9 million for the Richardson Centre for Functional Foods and Nutraceuticals;
• $8 million contribution for the renovation and expansion of the Portage la Prairie Food Development Centre; and
• $5 million for the I.H. Asper Clinical Research Institute in St. Boniface.

If you enjoyed this article, be sure to visit CanadaOne's article knowledge base for more informative articles.