BioEnterprise - SmartGrowth Program - Applications Opening Soon!
December 17, 2020
Bioenterprise will be accepting applications for the second round of the SmartGrowth Program for companies to access to funding and mentorship.The SmartGrowth Program provides eligible enterprises, headquartered in southern Ontario, within the agriculture, agri-food, or agri-technology sectors with:
- Up to $100,000 in acceleration financing to support scale-up expansion projects
- Coaching and mentorship support services
The SmartGrowth Program offers project-based, matching funding of up to $100,000 to innovative companies that are creating significant economic impacts for southern Ontario and Canada. Projects should focus on scale-up and expansion activities within agri-tech and related sectors. Eligible activities include, but are not limited to, job creation and talent acquisition, product demonstration, and adoption of unique technologies to improve productivity and sustainability. This program is supported with nearly $6.3 million in funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), which is helping Bioenterprise to create an agri-food hub in the region.
“The pandemic has caused unprecedented challenges for businesses in all sectors of the economy, including agri-food. Despite these challenges, southern Ontario is home to many agri-food businesses that are working hard to scale up, and we are here to help. The SmartGrowth program provides vital business support services to accelerate growth, keeping Canada at the forefront of agri-technologies while spurring economic growth in the region,” says Lloyd Longfield, Member of Parliament for Guelph.
“This program represents a drastic increase in the impact that Bioenterprise’s members can create for southern Ontario and all of Canada,” says Alexandra Coccari, Program Manager at Bioenterprise. “Last round, we awarded 10 innovative, high-potential companies with funding through this program which is already being translated into tangible economic benefits. We are extremely excited about the launch of round two. This is an excellent opportunity for innovative entrepreneurs in the region.”
Eligible companies must meet thresholds on annual revenues, expansion potential, technological adoption impact, and potential economic benefits. In order to access the SmartGrowth Program, eligible companies must join Canada’s Food & Agri-Tech Engine, Bioenterprise’s membership program which provides members with commercialization support services and access to Bioenterprise’s global network.
Each participant in the SmartGrowth Program will receive customized business support services, full access to Bioenterprise’s substantial network of services and mentors, and targeted support for underrepresented groups including youth, women and Indigenous groups.
An official intake will open on Monday, January 4, 2021, including a webpage with program details, a Program Guide, and information on how to apply. Keep an eye on your inbox for the intake announcement. In the meantime, you can direct any questions to Alexandra Coccari, Program Manager at firstname.lastname@example.org.