With $6,296,000 of FedDev funding, Bioenterprise Corporation will form a region-wide collaborative network, which will function as a single point of contact for agri-food companies looking to scale up their businesses. This hub will target support to later-stage companies, providing access to specialized industry expertise, mentoring and business coaching. It will also provide access to capital, which will help businesses to grow and commercialize their innovative agri-technologies.
Bioenterprise is expected to support up to 200 businesses, establish 30 new partnerships, and create and maintain up to 1,500 jobs in southern Ontario. This project aligns with the federal government’s Economic Strategy Table on Agri-Food.
MP Lloyd Longfeld, MP (Guelph) made the announcement on September 10, 2019.
“There is a great need in the sector to provide easy access to resources for our high-potential companies to scale-up, develop and compete globally...This project will harness our collaborative partnerships in the region and showcase the impact of a unified agri-food sector,” said Dave Smardon, president and CEO, Bioenterprise Corporation.
Source: FedDev September 10, 2019 news release