Posted on July 16: Panel recommends $5 million for biotech incubator

A biotechnology incubator for McMaster University could be one step closer to reality with a $5-million boost recommended by the mayor's Community Trustee Panel.

The recommendation is part of a spending plan devised by the panel and going to city council for approval.

The $15-million biotechnology incubator will assist with the commercialization of biomedical research and capitalize on the know-how and research facilities at the University. It is a key goal of Hamilton's economic development strategy to create an active biotechnology business sector in the city.

The city funding is crucial if the university hopes to attract money from the province.

“We see tremendous potential for this area in terms of commercialization of research results,” said Mamdouh Shoukri, vice-president research & international affairs at McMaster.

For the original story in today's Hamilton Spectator, click here.