Province announces $4M for McMaster-Fraunhofer Project
Eric Hoskins, Ontario's Minister of Economic Development, Trade and Employment, announced $4M in funding for the McMaster-Fraunhofer Project Centre for Biomedical Engineering and Advanced Manufacturing (BEAM) today on campus.
Ontario is investing in the cell therapy and biomedical manufacturing industry to help create jobs, attract top talent and promote economic growth.
The province is contributing $4 million toward the McMaster-Fraunhofer Project Centre for Biomedical Engineering and Advanced Manufacturing (BEAM) in Hamilton. The joint project is anticipated to create up to 100 jobs and attract top scientists and industry researchers from around the world. It will also help establish Hamilton as a hub for Ontario’s life sciences sector.
“We are pleased to support McMaster University and Fraunhofer Institute for Cell Therapy and Immunology in their collaboration to develop a project centre focused on the fast emerging cell therapies industry,” said Eric Hoskins, Minister of Economic Development, Trade and Employment. “By investing in this initiative, we are helping to create jobs, attract top talent to the region and keep Ontario at the forefront of scientific discovery.”
Created by McMaster University and Germany’s Fraunhofer Institute for Cell Therapy and Immunology, BEAM will develop innovative technologies to automate production for cell therapies, significantly lowering the cost to treat degenerative diseases like cancer.
Building our knowledge economy is part of the government’s economic plan that is creating jobs for today and tomorrow. The comprehensive plan and its six priorities focus on Ontario’s greatest strengths – its people and strategic partnerships.