GUELPH, Ont.—A Guelph, Ont.-based not-for-profit agriculture business accelerator is receiving as much as $2.5 million in federal funding to expand its offering of commercialization services.
The funding through the Canada Accelerator and Incubator Program (CAIP) will be used by Bioenterprise Corp. to help Canadian agriculture entrepreneurs develop their business plans and identify new international markets to sell their products and services.
The funding will be provided to Bioenterprise over five years and must be matched on a one-for-one basis, according to the National Research Council of Canada (NRC).
“(This) announcement will ensure Canada’s promising start-up businesses have the resources they need to grow, innovate and create jobs right here in Guelph,” Public Works and Government Services (PWGS) Minister Diane Finley said in a statement.
Finley was in Guelph to make the funding announcement.
“The financial support provided by the government through CAIP will allow us to provide commercialization services across Canada to entrepreneurs and companies engaged in agriculture, food and bioeconomy initiatives,” said Dave Smardon, president and CEO of Bioenterprise.
Launched in 2003, Bioenterprise has worked with hundreds of companies to get off the ground or expand.
To find out more about Bioenterprise, log on to bioenterprise.ca.
To find out more about CAIP, log on to the NRC website.