Up to $100,000 for Agri-Businesses!
Program Supports Business Growth and the Adoption of Innovative Technology
The BioEnterprise Smartgrowth program advertises 40% funding from $40,000 to $100,000 to accelerate the expansion of companies operating in agri-tech, agri-food, agri-products, cleantech and related sectors*, as well as increase the adoption/adaptation of innovative agri-technologies. Eligible activities include but are not limited to:
- Marketing: implementation of strategies to expand or access new and emerging domestic or export markets.
- Demonstrations and Pilots: for retaining, expanding or accessing new domestic or export markets.
- Intellectual Property (IP) Protection: to accelerate growth including patents, trademarks, industrial design or copyright activities. Possible activities though not limited to education, technical literature reviews and prior art patent searches. Filing/office fees are not eligible.
- Regulatory Compliance: activities the support access to specialized technical services, certifications, regulatory requirements.
- Other Commercial Activities that support growth and expansion.
Eligible project costs are:
- up to 15% for equipment and internal employee labour
- up to 5% of legal and intellectual property professional services
- up to 40% for consulting and professional services (which BioEnterprise may be able to provide)
- up to 40% for consumable materials, and external premises rented specifically to carry out project activities
- economy travel and accommodations
Maximum funding per project is limited to 20% of the applicant’s annual revenues.
Businesses must be operating in Southern Ontario, have less than 500 employees, have 2 years of independently reviewed financial statements, and generate a minimum of $200,000 annually in sales. Moreover, to be considered for funding, applicants must agree to pay a minimum of $1,999 for an annual membership to Canada’s Food & Agri-Tech Engine.
Please note that successful applicants are required to pay BioEnterprise a 10% contingency fee (i.e. an administration fee) against approved funding (e.g. if approved for $100,000 the contingency fee is $10,000). This contingency fee must be paid prior to receiving reimbursement from the program. Also, note that there is a total of $2.4 million available to be awarded over 4 years/intakes. Letter of Intent deadline is 12:00 pm, Wednesday, May 6, 2020.
*Businesses must have technologies at or beyond Technology Readiness Level 7 to apply
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