Guelph, ON (November 3, 2022) – Bioenterprise Canada Corporation is pleased to announce successful applicants for the fourth round of the SmartGrowth Program. Four companies have been selected to receive funding and mentorship support to accelerate their business growth and profitability while strengthening the regional economy for southern Ontario’s innovative food and agri-technology sectors.
The Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), is supporting Bioenterprise Canada with $6.3 million 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.
“Agri-food continues to be one of Canada’s leading sectors of innovation for both its universal utility from a global perspective, and the potential impact of sustainability innovations on our national emissions footprint. SmartGrowth is showcasing the most competitive technologies from southern Ontario and driving economic growth while increasing efficiency in the agri-food sector,” says Dave Smardon, CEO 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!”
As Bioenterprise Canada expands its national membership program, Canada’s Food & Agri-Tech Engine, key regional projects like the SmartGrowth Program will drive connections between industry, funding and small- and medium-sized enterprises (SMEs). In southern Ontario, Round 4 SmartGrowth recipients are using the funds to develop and commercialize innovative food and agricultural technologies that will increase process efficiencies throughout the agri-food value chain. These funds will allow recipients 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.
“This agri-food hub is essential for Canadians and for our farmers. It fosters the growth of homegrown companies and Canadian food security,” said the Honourable Filomena Tassi, Minister responsible for the Federal Economic Development Agency for Southern Ontario. “We are pleased to partner with Bioenterprise to continue to support the growth of our homegrown companies and Canadian food security.”
“The work being done by Bioenterprise through the SmartGrowth Program to support food and agricultural innovations is fostering a strong local economy in Guelph and across southern Ontario,” said Lloyd Longfield, Member of Parliament for Guelph. “This fourth round of the Program provides businesses the support they need to grow and create good jobs while boosting our economy.”
We would like to congratulate the following successful applicants:
Enhanced Medical Nutrition
Exact Blue Technologies
Henry’s Tempeh
Vivid Machines
Join our mailing list for updates on this program or contact Bioenterprise Canada today to explore the other commercialization support services and programs being offered nationally.
Source : Bioenterprises.ca