FedDev Ontario supports new network to help agri-food businesses scale up
Nearly $6.3 million for Bioenterprise to create single source virtual network and provide 200 businesses with support they need to succeed
September 10, 2019 — Guelph, Ontario
Through strategic investments, the Government of Canada is building on regional strengths to help secure our position as a world leader in innovation and create the right conditions for continued growth in our evolving economy.
Today, Lloyd Longfield, Member of Parliament for Guelph, announced a FedDev Ontario contribution of up to $6,296,000 for Bioenterprise Corporation to lead the creation of an agri-food hub in southern Ontario. This announcement was made on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario.
With this funding, Bioenterprise will form a region-wide collaborative network, which will function as a single point of contact for agri-food companies looking to scale up their businesses. This hub will target support to later-stage companies, providing access to specialized industry expertise, mentoring and business coaching. It will also provide access to capital, which will help businesses to grow and commercialize their innovative agri-technologies.
As a result of this project, Bioenterprise is expected to support up to 200 businesses, establish 30 new partnerships, and create and maintain up to 1,500 jobs in the region. This project aligns with the Government’s Economic Strategy Table on Agri-Food, as it supports high-potential companies to obtain the support they need to scale up, while helping to uphold Canada’s reputation as a competitive, reliable supplier of safe, sustainable, high-quality agri-food products.
“Bioenterprise Corporation is a great example of an organization that is assisting the local economy through smart, collaborative partnerships. This project will create a single point of access to quality resources that will help agri-food businesses scale up and help Canada to remain at the forefront of agri-food technologies.”
- Lloyd Longfeld, Member of Parliament for Guelph
“The Government of Canada is proud to support organizations, like Bioenterprise, that are working to strengthen the innovation ecosystem across southern Ontario. The creation of a new agri-food hub is an important step in supporting our homegrown companies, which are vital to the economic success of this region. This project will strengthen a key sector in southern Ontario and will lead to good quality jobs for Canadians.”
- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Federal Economic Development Agency for Southern Ontario
“There is a great need in the sector to provide easy access to resources for our high-potential companies to scale-up, develop and compete globally. Bioenterprise is thrilled to continue our long-standing relationship with FedDev Ontario and our position as the leading resource across southern Ontario. This project will harness our collaborative partnerships in the region and showcase the impact of a unified agri-food sector.”
- Dave Smardon, President and CEO, Bioenterprise Corporation
Bioenterprise Corporation is a national not-for-profit organization, founded in 2002, that offers commercialization services to support the growth of start-up businesses in the agricultural technology sector.
This new agri-food hub will position southern Ontario – and ultimately Canada – as a leading region for helping innovative agri-food companies to scale up and grow.
Final funding is subject to negotiation of a contribution agreement.
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