He pointed out that the investment would significantly amplify the innovation efforts of local farmers and food processors, resulting in enhanced growth, job creation, and economic opportunities.
This latest funding initiative will support over 100 research and innovation projects, including 67 applied research and pilot and demonstration projects alongside 10 projects aimed at commercialization.
More than 30 businesses will benefit from specialized expert mentoring provided through the Grow Ontario Accelerator Hub (GOAH).
Among the notable projects funded in the recent OAFRI intake are:
Dave Smardon, President and CEO of Bioenterprise Canada Corporation, stated that innovation is crucial for the long-term competitiveness of the agricultural sector.
The introduction of new technologies and processes is expected to reduce production costs, increase efficiency, and enhance productivity.
The Sustainable CAP represents a five-year, $3.5-billion commitment by federal, provincial, and territorial governments to strengthen the agriculture and agri-food sectors across Canada.
This initiative includes a blend of federal programs and provincially/territorially designed and delivered programs, promoting a robust framework for sustainable growth in agriculture.