A Memorandum of Understanding (MoU) has been signed between Opportunities New Brunswick (ONB), Canada and the Association of Biotechnology LED Enterprises (ABLE). The MoU was signed during the Bengaluru Tech Summit 2023 on 29 November.

The MoU aims to facilitate technology and technology-based foreign direct investment, enhancing the global competitiveness of companies in both regions. This partnership will undoubtedly contribute to the advancement of biotechnology in both countries and promote mutually beneficial collaborations.

As a part of this MoU, ABLE will actively seek to educate and inform its members regarding New Brunswick, its economy. business ecosystem, government policies and initiatives with respect to various sectors. ABLE will also organise webinars, discussions, and talks to enable interactions between ONB and ABLE members.

ONB connects local and worldwide businesses in traditional and emerging industries to the advantages that New Brunswick has to offer. By connecting business to opportunity, ONB is driving economic growth and job creation, supporting innovation, and helping the next generation of business leaders to realise their true potential.

On the other hand, the primary focus of ABLE is to accelerate the pace of growth of the biotechnology sector in India, through partnership with the government in their biotech initiatives to deliver optimal policies and create a positive regulatory environment.