Wednesday, March 31, 2021
Bioenterprise Canada Corporation is pleased to announce the second round of successful applicants for the SmartGrowth Program! Six companies have been selected to receive funding support to accelerate their business growth and profitability while strengthening the regional economy for southern Ontario’s food and agri-technology sector.
Through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the Government of Canada is providing Bioenterprise with $6.3 million in funding to deliver the SmartGrowth Program and lead the creation of a food and agri-tech hub in southern Ontario. The SmartGrowth Program provides successful applicants with up to $100,000 in non-repayable acceleration financing (to be matched by the recipient company) as well as coaching and mentorship services. The open call for proposals is scheduled for later this year.
As Bioenterprise expands its national membership program Canada’s Food & Agri-Tech Engine, key regional projects like the SmartGrowth initiative will drive connection between industry, funding, and SMEs in key regions. In southern Ontario, these round two recipients are using the funds to advance their companies’ product demonstration; intellectual property (IP) protection; regulatory compliance and marketing. These projects are intended to act as a catalyst for economic growth and advance scale-up activities to improve productivity, global competitiveness, and market expansion through the adaption and adoption of highly innovative agri-technologies.
“We are so thrilled to announce the second round of recipients through the SmartGrowth Program,” says Alexandra Coccari, Program Manager at Bioenterprise. “The support from FedDev Ontario is critical to these companies as they scale up and advance the adoption of their innovative products and technologies. I applaud and congratulate each of our successful applicants!”
“Bioenterprise Corporation is a great example of an organization that is assisting the local economy through smart, collaborative partnerships and job creation. I am looking forward to all of the success that is sure to come from this new cohort of successful applicant,” says the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedDev Ontario.