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OBAA 2019 Finalists: Excellence in Innovation Award
October 30, 2019Since 1983, The Ontario Business Achievement Awards (OBAAs) has been the most recognized industry gala in the province with a single focus on celebrating business success. Throughout the evening, we will celebrate our spectacular Ontario business community, highlighting the incredible innovations and achievements of each one of our 2019 OBAA finalists. Join us on Thursday, November 14 as we reveal our winners at Beanfield Centre in Toronto!
Presenting: The Excellence in Innovation Award
The Excellence in Innovation Award is awarded to a business that exemplifies forward-thinking in all aspects of their business and contributes to our province’s success, helps shape our future and inspires the next generation.
Finalist #1: Microbix Biosystems Inc.
Industry: Biological and technology solutions
When did your organization first open its doors? What motivated you to get into business?
Microbix first opened its doors in the founder’s basement in the 1980s. His motivation was to use his virology expertise to help improve public health. That motivation still guides Microbix today in its position as a global leader in providing the biological core of many medical tests for infectious diseases (antigens) and in helping to ensure the accuracy of such tests (quality assessment products, or QAPs™).
What does being an OBAA finalist mean to you?
It is a great honour for Microbix to be a finalist with OBAA. Being an OBAA finalist demonstrates two highly-related concepts: 1) that Microbix is on the right path in innovating on a sustainable basis to build its business, and 2) that our peers and the community at large are recognizing this progress. Recognition by OBAA increases Microbix’s visibility and allows us to demonstrate our leadership to prospective customers, capital providers and policymakers. This exposure will greatly help us connect with those groups that can work with us to maximize business growth to the benefit of the company, our employees, the innovative industrial biotechnology community, and more broadly to the Ontario business ecosystem as a whole.
How does your organization positively contribute to Ontario’s economy?
Microbix is an entirely Ontario-based company, with a broad base of shareholders across Canada. While many of Microbix’s suppliers are Canadian, its products are sold almost exclusively exported (currently 22% US, 52% EU, 27% Asia/Pacific) to numerous customers worldwide, including multinational diagnostics companies, laboratory accreditation organizations and, in the very near future to the clinical testing laboratories themselves as fully regulated medical devices. Growth in sales of Microbix’ core antigen and QAPs lines are expected to continue to increase revenue, with the rate of growth accelerating as more new QAPs products are introduced. Sales growth will naturally result in the creation of numerous new Ontario-based jobs, most being well-paid and involving advanced technologies. With current sales of over $1 million per month, Microbix is the rare instance of a substantive locally-controlled biotech company. At its Mississauga facilities, Microbix currently has 80 highly-trained Canadian employees, many with higher degrees, and we are looking to grow. We are also an established hirer of new Canadians, with a diverse, multi-cultural workforce.
What can we expect to see from your organization in the years to come?
For the last several years Microbix has achieved double digit sales growth as it builds its innovative biotechnology business. This trend will continue, and indeed accelerate, in the coming years. This acceleration will be driven by 2 major factors:
- Commercialization of the new portfolio of Quality Assessment Products (QAPsTM), particularly in Europe and the US. This represents a new direction for Microbix with the potential to dwarf the (still growing) revenues currently generated through is diagnostic antigen business;
- Rapid commercial growth for all its products (antigens and QAPs) in the Asia/Pacific region. Commensurate with this progression will be the establishment of growing profitability, further expansion of facilities/capabilities and the creation of numerous new high-value Canadian jobs.
Connect with Microbix Biosystems Inc. on Facebook and LinkedIn.
“Microbix’s strength is our people. From our beginnings, we have pursued a culture of honesty and respect. By applying scientific and manufacturing excellence, with appropriate business discipline, we are building an exciting biotechnology company. As we continue to grow, we remain a dynamic and fun place to build a career.”
Cameron L. Groome, CEO & President
Finalist #2: Muskoka Lakes Farm and Winery
Industry: Agricultural Industry
When did your organization first open its doors? What motivated you to get into business?
We have been growing cranberries in Bala, Ontario since 1950 when Orville Johnston dreamed of a thriving, provincial cranberry industry with Muskoka at its centre.
When factors helped contribute to the success of your organization?
In a day of factory farms, we remain a local, family farm committed to our environment and to making quality products from the fruit we grow. Everything we do starts with a passion for where we live and what grows here. With that strong sense of place, we have diversified into wine production and agri-tourism through creating innovative products and experiences that uniquely reflect Muskoka to our customers.
How does your organization positively contribute to Ontario’s economy?
We are a significant employer for our region – both seasonally and year-round. We are also a strong part of our local identity. Bala is known as the ‘Cranberry Capital of Ontario’ and created the Bala Cranberry Festival in 1985 to celebrate local agriculture. In a highly seasonal area, we have created a year-round economic tourism driver. The wines we produce are the top-selling fruit wines at the LCBO.
What is a fun interesting or unique fact about your company?
There’s something to do here everyday, year round. Our Bog to Bottle Discovery (guided farm tour and tutored wine tasting) is offered 3 times/day, 363 days/year. We also offer seasonal experiences like a winter Ice Trail, spring sugar bush discoveries, summer blueberry highlights, and, of course, our autumn cranberry harvest. We’re only closed Dec25 and 26.
Connect with Muskoka Lakes Farm and Winery on Twitter, Facebook, and Instagram.
“Our success comes from our community – the people who have made a cranberry dream into a reality.”
Wendy Hogarth, proprietor & CEO