Québec in North America : Québec and the Biotech Industry in North America

Abstract

What is the current state of the biotech industry in North America and how can we best understand Québec's place as one of the major clusters in this continental picture ? These are the central questions addressed by this note, along with an evaluation of the industry's sources of funding, the costs of its operations, and its prospects for a sustainable future. Québec has distinct advantages for this industry, including lower operating costs and a generous incentive programs. These advantages are not an absolute guarantee of sustainability, however, as other states or provinces offer increasingly competitive incentives and the greater availability of home-grown venture capital in the United States compared to Canada puts U.S.-located biotech firms at a competitive advantage.