“We must be prepared to bet the farm on it,” said John McLaughlin, the president of the University of New Brunswick, at the recent BioPort Atlantic Conference in Halifax. “It” is the commercialization of research development in the region.

I agree with him. There are many growth sectors with great potential, but we need to create new goods and services from ideas, innovation, research, and science. Our growth potential is unlimited, and the world is our market.

In our primary resources—fishing, agriculture, forestry, mining, and the offshore—there is considerable related research, technology development, shop-floor innovation, and investment in university and community college research projects. This activity is both corporately financed and government supported through the Scientific Research and Experimental Development Tax Credit (SR&ED). Hundreds of companies are involved in this lucrative activity throughout the region, including Cooke Aquaculture in New Brunswick, Precision BioLogic and Ocean Nutritionin Nova Scotia, Newfound Genomics and Consilient Technologies in Newfoundland and Labrador, and Clearwater’s investment in the AVC Lobster Science Centre on P.E.I. They’re just a sample of what’s going on.

In the world of bio-science and lifescience research and commercialization, the BioPort Atlantic Conference highlighted some incredible activity. Ledby Marli MacNeil of BioNova, which partnered with Bio Atlantech of N.B., Technology P.E.I., and Newfoundland Alliance of Technology Industries, the conference featured impressive speakers and ideas.

For example, Marva Sweeney-Nixon of the Atlantic Canada Network on BioActive

Compounds in Charlottetown offered insight into the nutritional value of our native blueberries and rosehips. While there already are commercial products from these compounds, Sweeney-Nixon’s research is exploring new opportunities for value-added usage.

Chops Viger is with BioVison Technologies Inc. of Bridgewater, N.S. It plans to build a bio-refinery to convert renewable biomass resources, or plant material, into fuel ethanol and other commodities. Viger understands the commercial value of science and wants to help Canada become a leader in resource manipulation while making a profit.

Bio and life science companies need to be financed. It’s no easy task. Neil Bhaskar of Nova Equity in Princeton, N.J., proposed several capital initiatives. Aprivate equity fund for micro investments in the Canadian bio-tech and tech sectors, creating a twin-city connection between Halifax and Princeton, would lead to an incubator for Canadian bio and life science companies in Princeton and the inauguration of Canada Day there.

We must all get behind this embryonic stage of huge opportunities. Our univer-sities must become centres of excellence that keep our best brains here and attract talented immigrants. Commercializing ideas, invention, science, and innovation will lead to regional prosperity. The regionis an attractive environment; these jobs are long term and pay well. The region’squality of life fits into this kind of economic-development strategy.

We must have the confidence and patience to invest in this sector and be prepared to “bet the farm.” With our collective strength and potential, the only risk is if we don’t do it today.