Building New Leaders: Developing the Health Science Workforce of Tomorrow
Based on a survey of industry leaders, supervisors and early-career talent who have been part of OBIO’s Health to Business Bridge (H2BB™) program, the report describes how H2BB™ has addressed the health science industry’s need for job ready talent.
OBIO is proud to announce the launch of Building New Leaders: Developing the Health Science Workforce of Tomorrow.
Based on a survey of industry leaders, supervisors and early-career talent who have been part of OBIO’s Health to Business Bridge (H2BB™) program, the report describes how H2BB™ has addressed the health science industry’s need for job ready talent.
Download the Building New Leaders white paper below or continue reading for a summary of the key findings.
To learn more about OBIO’s H2BB program, click here.
Key Findings
OBIO’s Health to Business Bridge (H2BB™) program prepares early career professionals for the health science workforce through industry specific training, providing companies with access to the talent they need to scale and grow.
100% of industry leaders were satisfied with H2BB™ participants’ job performance. Industry leaders will continue to partner with OBIO through H2BB to recruit and train their early career professionals.
92% OF PARTICIPANTS FIND THEIR MENTOR USEFUL OR SOMEWHAT USEFUL.
H2BB™ is unique in Ontario and possibly Canada because it is the only health science industry focused program that incorporates skills training, mentorship and instructor led training.
83% OF PARTICIPANTS AGREE H2BB HAS MADE THEM MORE VALUABLE TO EMPLOYERS.
“I feel that my participation in H2BB has given me a greater sense of the industry expectations and practices, which will help advance my career in the health science industry."
– H2BB program participant
“The end to end understanding of drug/medical device lifeline has helped me in realizing what is expected of me, and thereby I can contribute more effectively."
– H2BB program participant
Employers agree that H2BB continues to address an unmet need for the development of early career talent that companies cannot resolve without support.
“There is a wealth of talented individuals that are on the hunt for work that could be able to contribute in great ways. But the learning curve is too steep and sometimes it isn't really attractive for a company to spend that time doing that degree of onboarding for them.”
– Industry leader
"I think one of the things that OBIO is doing well in H2BB is some of the project management related talks that are really valuable for any young professional and that's regardless of whether they leave academia or not."
– Industry supervisor
There are a lot more issues that arise working in a company than in a research lab. And I think H2BB has been wonderful for teaching them.
– Industry leader
MORE THAN 65% OF PAST H2BB PARTICIPANTS SECURED EMPLOYMENT IN THE HEALTH SCIENCE INDUSTRY.
A possible solution to hiring challenges is recruiting experienced professionals from other industries that may be contracting or down sizing, particularly in the current economic climate.
76% OF INDUSTRY LEADERS HAVE EITHER HIRED OR INTEND TO HIRE AN EXPERIENCED PROFESSIONAL FROM ANOTHER INDUSTRY.
"A lot of early career professionals pivot into the space from a variety of other industries. I think a primer on the industry is a really good way to accomplish this.”
– Industry leader
Looking to the future, there is considerable opportunity for OBIO to build on the success of H2BB to maximize talent development in the industry.
Leading the Pack: Accelerating the Success of the Canadian Health Science Industry
The report is based on a comprehensive industry consultation with leaders from coast-to-coast, who provided their feedback on their experiences in 2020 and recommendations for how Canada’s health science industry can become a global leader in the bioeconomy.
OBIO announced the release of ‘Leading the Pack: Accelerating the Success of the Canadian Health Science Industry.’
The report is based on a comprehensive industry consultation with company executives and leaders from coast-to-coast, who provided their feedback on their experiences in 2020 and recommendations for how Canada’s health science industry can become a global leader in the bioeconomy.
Beyond the enormous disruption caused by the global pandemic, the health science industry has the opportunity to become a pillar of the economy in the long term and it has the potential to create value by addressing all aspects of human health.
Today, the sector contributes only 0.45% to Canada’s total GDP, which is about ten-fold smaller than the contribution of the U.S. industry to its national GDP. There is considerable opportunity for Canada to take a bigger slice of the global bioscience market and for the domestic health science industry to increase its contribution to the Canadian economy.
To accomplish this, capital attraction and driving adoption are the two clear priorities for action articulated by survey and interview respondents. If the twin challenges of capital attraction and driving adoption are addressed, Canada has the potential to become a global leader of innovation and production in healthcare.
Watch the ‘Leading the Pack’ Report Launch Event
On Oct 29th, OBIO launched ‘Leading the Pack: Accelerating the Success of the Canadian Health Science Industry’ at an online event featuring industry leaders providing their insight and experience.
Thank you to Jeremy Bridge-Cook, CEO, Rna Diagnostics; Joe Eibl, CEO, Flosonics Medical; Scott Phillips, Founder and CEO, Starfish Medical; and David Young, Co-founder and CEO, KisoJi Biotechnology.
Bridging the Talent Gap: Reporting on Year 2
Bridging the Talent Gap: Reporting on Year 2 describes the results of the first seven cohorts of early career talent that has completed the program.
Building on the ongoing success of OBIO’s Health to Business Bridge (H2BB™) program, this report reflects on the success of H2BB in pulling top talent into Ontario’s health science industry to close the talent gape identified by 96% of Ontario’s health science company CEOs.
In 2017, OBIO released Bridging the Talent Gap which was based on consultations with participants in the then-recently launched H2BB early career talent development program.
H2BB was conceived and designed in response to the health science industry need for business talent to take companies through successful commercialization. The program partners with academic institutions to provide critical exposure to the health science industry as well as workplace learning and experience that augment fact and theory delivered in the classroom. H2BB was originally intended for students and recent graduates with STEM undergraduate training and post-graduate training in business.
Bridging the Talent Gap: Reporting on Year 2 describes the results of the first seven cohorts of early career talent that has completed the program.
Overall, in just two short years, H2BB has seen impressive growth and success. Over 100 students and recent graduates have pursued the program and both companies and academic institutions continue to sign on. These numbers demonstrate how the program is addressing a gap in learning and a need in industry. Most significant however are the number of eligible students who have found jobs and begun building their careers. H2BB has created awareness of the industry, attracted some of the best and brightest, and established new openings for employment.
To read a PDF of ‘Bridging the Talent Gap: Reporting on Year 2’, please click here.
Achieving Impact Through Adoption of Innovative Health Technologies: Establishing Early Adopter Health Organizations as an Accelerator for Economic Growth in Ontario
OBIO’s 2019 report describes an early adopter model to facilitate the evaluation and adoption of innovative health technologies in Ontario health organizations.
TORONTO -- The Ontario Bioscience Innovation Organization (OBIO®) today released its latest report, ‘Achieving Impact Through Adoption of Innovative Health Technologies: Establishing Early Adopter Health Organizations as an Accelerator for Economic Growth in Ontario’, which describes an early adopter model to facilitate the evaluation and adoption of innovative health technologies in Ontario health organizations.
The report is the result of a series of consultations with executive-level stakeholders from Ontario health organizations and industry, as well as representatives from government and other affiliate organizations.
Following a key recommendation in OBIO’s report, ‘Tackling the Anchor Company Challenge – OBIO Leadership Summit (2017),’ which highlighted the need for early adopter organizations in Ontario, the report provides a robust model for establishing, governing and supporting these organizations to best engage with innovators.
The report was launched at the Conference Board of Canada Council on Innovation Procurement in Health Care meeting. OBIO CEO, Gail Garland, was joined by Arden Krystal, President and CEO of the Southlake Regional Health Centre, Jo-anne Marr, President & CEO of Markham Stouffville Hospital and Stefano Picone, Director of Finance of Conavi Medical.
“Today, it is clearer than ever that a model to support the early adoption of novel technologies is crucial if our health science industry is going to continue to commercialize life-saving products, create jobs and attract investment in Ontario. We are pleased to present the EAHN model as a way to achieve these benefits.”
Overview of the Report:
A network of early adopter health organizations (EAHNs) can facilitate the evaluation of and access to promising health science innovations that could benefit human health and wellbeing through their use in the Ontario healthcare system.
The report presents a governance model for a collaborative ecosystem wherein industry and health organization end-users can work together to develop, test, refine, adopt, and deploy novel technologies for the health sector.
Engagement with an EAHN will allow our growing health sciences industry to continue to innovate and assess the local market before they expand their sales to a larger global market. Investments in Ontario companies will become more attractive due to strong ties with the local market and foreign companies will be attracted to the favourable environment for innovation adoption in Ontario.
To read a PDF of ‘Achieving Impact Through Adoption of Innovative Health Technologies: Establishing Early Adopter Health Organizations as an Accelerator for Economic Growth in Ontario’, please click here.
To read the press release, click here.
Realizing the Promise of Healthcare Innovation in Ontario
OBIO’s report, Realizing the Promise of Health Care Innovation: Increasing Value for the Patient, Health System and Economy, was published in 2013 and is a product of the Ontario Bioscience Economic Strategy Team (OBEST®), an initiative launched by OBIO to address the challenges faced by Ontario’s human health technology and bioscience industry.
The OBIO® Innovation Adoption Initiative is a product of the Ontario Bioscience Economic Strategy Team (OBEST®), an initiative launched by OBIO to address the challenges faced by Ontario’s human health technology and bioscience industry. Its goal is to recommend policy avenues that catalyze commercialization for the therapeutics, medical devices, diagnostics, and health information technology (Health IT) sectors while strengthening the province’s capacity to deliver cost-effective care for patients and caregivers as intelligently and innovatively as practicable.
Use It or Lose It: Industry Solutions to Ontario's Commercialization Gap 2018
OBIO’s 2018 Industry Consultation reports five recommendations from health science company executives on how to create the conditions for the growth of Ontario’s health science industry.
May 03, 2018 -- OBIO® released its latest report, ‘Use It or Lose It: Industry Solutions to Ontario’s Commercialization Gap’, with recommendations from health science company executives on how to create the conditions for the growth of Ontario’s health science industry.
This report is the result of a survey of 135 Ontario health science industry executives, looking at the growth of Ontario’s health science sector and the opportunities for future development. The report makes five recommendations to ensure Canadians derive the benefits that accrue from a successful health science economy: regional prosperity, knowledge economy jobs, increased patient satisfaction, and improved health outcomes.
“Last fall, Ontario’s health science industry CEOs shared their ideas and their concerns with OBIO to give us an understanding of what is needed for Ontario’s health science industry to flourish. We are pleased to share this report’s recommendations. In addition to recommendations that allow companies to extend their runway and generate cash flow, this year industry emphasized the importance of go-to-market issues like access to local hospitals and health service providers, and the development of infrastructure to facilitate access to the local market for the purpose of clinical trials or pilot projects to generate evidence and refine technology.”
Overview of the Report:
Ontario’s health science industry is starting to grow and mature with over half of companies in the preclinical or clinical stage of development, and one in five with their most advanced project generating sales or expanding their markets.
But companies continue to face barriers to scaling up in Ontario which fall across four main themes: financial, infrastructure, ecosystem and talent.
Industry had five recommendations which include improved access to capital, globally competitive tax policies, consolidated funding programs, and most importantly stronger local infrastructure and access to local markets, including a system of early adopter health care providers with expertise in piloting, adopting and championing new technologies.
“To build health science anchor companies in Ontario, access to markets is becoming an increasingly important factor for Ontario companies. For Ontario health science companies to stay here and grow here, this report’s recommendations indicate the need to create the conditions for the development of anchor companies.”
To read a PDF of ‘Use it or Lose it: Industry Solutions to Ontario’s Commercialization Gap’, please click here.
To read the press release, click here.
OBIO Hosts Pfizer Global: Event Gallery
On April 9, 2018, OBIO hosted Pfizer Global for a workshop and partnering day at ONRamp in the Banting Institute.
On April 9, 2018, OBIO hosted Pfizer Global for a workshop and partnering day at ONRamp in the Banting Institute.
More than 90 people registered and attended the workshop, in person and online, and heard from Pfizer Global executives about their approach to partnering philosophy, the interests of individual research units, and Pfizer's unique approach to drug discovery. There were networking opportunities before and after the presentations, as well.
Check out the photo gallery below:
Recapping OBIO Does Indian Street Food: Third Annual Pre-RESI Networking Event
OBIO and Blakes hosted OBIO's third annual pre-RESI networking event, connecting high potential companies with global investors. Over 100 international investors, local investors and strategics, as well as executives from high potential Ontario health science companies
On April 9th, OBIO and Blakes hosted OBIO's third annual pre-RESI networking event, connecting high potential companies with global investors. Over 100 international investors, local investors and strategics, as well as executives from high potential Ontario health science companies attended. Everyone mingled over drinks and delicious Mumbai-style street food dishes from Bombay Street Food.
Check out the photo gallery below:
Showcasing Ontario's High Potential Companies: Niagara Emerging Health Sciences Company Forum
OBIO - in partnership with Accel-Rx - hosted the Niagara Health Science Emerging Company Forum, which brought together CEOs and senior executives from high potential Canadian health science companies with senior leadership from American investors and strategics.
Showcasing Ontario's High Potential Companies: Niagara Health Science Emerging Company Forum, Part 1
By: Jordan Cork, OBIO Finance & Marketing Associate
In part one of a blog that will continue next week, Jordan Cork, OBIO Finance & Marketing Associate, will review our Niagara Health Science Emerging Company Forum event, held in Niagara-on-the-Lake, February 1-2, 2018.
Last week, OBIO - in partnership with Accel-Rx - hosted the Niagara Health Science Emerging Company Forum, which brought together CEOs and senior executives from high potential Canadian health science companies with senior leadership from American investors and strategics in beautiful Niagara-on-the-Lake for two days of panel presentations, executive roundtables, networking dinners, and the opportunity to enjoy some of Canada’s finest wines.
This week, I will describe and breakdown the panel sessions which took place on Thursday, Feb 1, and next week, I will take a closer look at the networking events and roundtable sessions.
Companies attending the Forum had the opportunity to present to carefully constructed panels of US VCs, strategics, and successful CEOs for invaluable advice and critical constructive feedback. The interactive panel sessions allowed for honest and open two-way discussions between established industry leaders (both American and Canadian), and the leaders developing some of Canada’s most promising medical technologies.
The Forum’s panels were divided into three streams – Therapeutics, Medical Devices & Diagnostics, and Digital Health – with each panellist being selected based on their expertise in that space.
Therapeutics companies – including Biotagenics, AmacaThera, ImmunoBiochem, Pacylex, Bright Angel, KisoJi Biotechnology, SpecificiT Pharma, KalGene Pharmaceuticals, Zucara Therapeutics, and Iversago Pharma – presented to a panel that included GeneNews and TKC Alliance, and senior US executives from J&J Innovation, SR One, and Pfizer.
Companies in the Medical Devices & Diagnostics stream – including iBIONICS, KA Imaging, RNA Diagnostics, SensOR Medical, Conavi Medical, MDDT, Induce Biologics, Flosonics Medical, Perimeter Medical, and MYOVUE – had the opportunity to receive feedback from GreyBird Ventures and Siemens Healthineers, as well as Quandt Berndt & Co, Spinal Stabilization Technologies, and NexGen Medical Systems.
For the Digital Health panel – with Pathcore, MediSeen, QoC Health, Self Care Catalysts, and Tracery Ophthalmics presenting – the panel consisted of representatives from GE Ventures, Flare Capital, PointClickCare, and Carrot Rewards.
Due to how the Forum was curated – with panelists of high calibre, and companies of remarkable quality – dozens of meaningful connections were made that will facilitate the growth of these most promising Canadian companies. In contrast to a typical investor conference composed primarily of brief one-on-ones, the Forum was designed in a way to see how the panelists could help the companies, including both advice and introductions to their network. The event truly provided a unique opportunity for Canadians to meet US firms interested in supporting emerging technologies north of the border.
We received strong feedback from participants, including the following:
“I thought the quality of the program overall was very high. I was particularly impressed with the quality of the panel members and the quality of the presentations in my session. Both the participating companies/presenters and the panelists were very high calibre overall. I was glad I participated in the event.”
Although the purpose of the event was to provide promising companies with feedback and advice that will assist them in fine tuning their strategy, the US investors were genuinely impressed with the quality of the Canadian innovations being discussed, and several one-on-one meetings were swiftly arranged following the panels, including one deal hashed out on the car ride to dinner!
Click here for a gallery of photos from the panel sessions.
Bridging the Talent Gap: Report on OBIO® Health to Business Bridge™ (H2BB™) 2017
Bridging the Talent Gap reports on the unique value of OBIO’s Health to Business Bridge (H2BB™) business internship program. This report describes how H2BB™ addresses the challenge of pulling top talent into Ontario’s health science industry to address the talent gap identified by 96% of Ontario’s health science company CEOs.
Bridging the Talent Gap reports on the unique value of OBIO’s Health to Business Bridge (H2BB™) business internship program. This report describes how H2BB™ addresses the challenge of pulling top talent into Ontario’s health science industry to address the talent gap identified by 96% of Ontario’s health science company CEOs.
Click here for a PDF of the full report
OBIO Health Economics Day: A Review
On October 24th, OBIO hosted Health Economics Day workshop in partnership with St. Michael’s Hospital.
The workshop took place in the auditorium at the Li Ka Shing Knowledge Institute and featured four sessions: a moderated panel discussion with four panellists, followed by three presentations by three health economics experts.
On October 24th, OBIO hosted a Health Economics Day workshop in partnership with St. Michael’s Hospital.
The workshop took place in the auditorium at the Li Ka Shing Knowledge Institute and featured four sessions: a moderated panel discussion with four panellists, followed by three presentations by three health economics experts.
The event was a great success in terms of bringing together health science companies, health economists, health system personnel and other stakeholders to have meaningful conversations about the importance of health economics in defining a company’s value proposition for market entry.
OBIO's Matt Mistry and Grant Burns have written a review of the day and summarized the key messages from the presenters.
Read the blog here
OBIO members - access the video and slide summaries from the presentations here
OBIO blog: Updating the Innovation Supercluster Shortlist
Recently, the Minister of Innovation, Science and Economic Development launched a cross country tour to introduce the nine supercluster proposals that have been shortlisted by the federal government for the Innovation Superclusters Initiative.
Grant Burns, OBIO's Public Affairs and Communications Manager, has listed the 9 proposals and provided commentary and analysis on how they relate to the health technology sector.
Recently, the Minister of Innovation, Science and Economic Development launched a cross country tour to introduce the nine supercluster proposals that have been shortlisted by the federal government for the Innovation Superclusters Initiative.
Grant Burns, OBIO's Public Affairs and Communications Manager, has listed the 9 proposals and provided commentary and analysis on how they relate to the health science sector.
Read the blog here
Be in the Know with OBIO: Getting Your Foot in the Door with Pharma - Alexion Day Reflections
On October 2nd, Andrew Hutchinson, External Research & Scouting Lead for Alexion Pharmaceuticals, provided his insights on the strategic partnering process between early stage therapeutic companies and big pharma to the OBIO community.
On October 2nd, Andrew Hutchinson, External Research & Scouting Lead for Alexion Pharmaceuticals, provided his insights on the strategic partnering process between early stage therapeutic companies and big pharma to the OBIO community.
Andrew placed strong emphasis on the difference between an investor deck and a partnering deck. The two have a very different purpose (and audience), and thus should be structured differently.
Download the Blog here
Be in the Know: An Opportunity for Medical Device Companies: CE Marking and Coming EU Regulatory Changes
OBIO's Dr. Klaus Fiebig, VP Strategic Programs, recently attended an insightful workshop on the upcoming regulatory changes affecting the CE mark. Obtaining the CE mark is a "mandatory hurdle" to access the $56B EU market, and the new regulatory changes present an opportunity for medical device companies.
Should these changes adjust your CE mark milestones? Read the Klaus' analysis and decide.
OBIO's Dr. Klaus Fiebig, VP Strategic Programs, recently attended an insightful workshop on the upcoming regulatory changes affecting the CE mark. Obtaining the CE mark is a "mandatory hurdle" to access the $56B EU market, and the new regulatory changes present an opportunity for medical device companies.
Should these changes adjust your CE mark milestones? Read the Klaus' analysis and decide.
Download the blog here
Raising Capital in the Digital Health Industry: Lessons from FCA Venture Partners
On July 11th, Grant Blevins of FCA Venture Partners in Nashville Tennessee, returned to OBIO via webinar to give his second workshop on digital health. Grant focused on the "Why, When, & How Much" that early stage companies should consider when raising capital.
On July 11th, Grant Blevins of FCA Venture Partners in Nashville Tennessee, returned to OBIO via webinar to give his second workshop on digital health. Grant focused on the "Why, When, & How Much" that early stage companies should consider when raising capital.
Jordan Cork, OBIO's Finance & Marketing Associate summarized the key points in a blog available here.