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.