Strategic Plan 2021-25
The 2021-25 Strategic Plan will guide the work and planning needed to achieve the PEI Cluster’s vision to be a leading force in Canada’s bio-revolution. Development of this plan was led by the Board of Directors of the BioAlliance and informed by broad consultation with other industry, research, and government partners.
Bioscience Sector Current State
Now with 60 companies, seven research organizations, and employing 2,200 highly skilled individuals, the PEI BioAlliance has created an innovation ecosystem that has doubled its economic impact since 2016. In 2019, private sector companies earned over $260M in revenue, attracted $38M in new investment and spent more than $100M on new equipment and facilities.
Vision
A leading force in Canada's Bio-revolution.
Mission
To create wealth and career opportunities in Prince Edward Island through an outstanding bio-business ecosystem, networked to the world.
Goals 2021-25
1. Increase private sector revenue earned by PEI bioscience cluster companies from $265M to $500M.
2. Increase sector employment, driven by private enterprise, from 2,000 to 3,000 persons.
3. Increase private sector investment attraction from an average of $30M to $50M per year.
4. Increase annual sector capital expenditures from $20M to $35M per year on average.
5. Increase private sector spending on research and development from $13M to $25M per year.
6. Increase local, regional, national, and international recognition of the PEI bioscience cluster.
7. Maintain the alignment of business, academic, research and government organizations in defining and executing on a shared vision and coherent strategy for the development of PEI’s bioscience sector.
8. Increase the quality and quantity of new businesses in the development pipeline, including local entrepreneurs and national and international investment attraction.
For questions on the Strategic Plan, please contact clara@peibioalliance.com.