August 05, 2009 09:15 ET

BioEnterprise and OnTrace Collaborate to Provide Mentoring, Access to Funding Resources and More Traceability Services

GUELPH, ONTARIO--(Marketwire - Aug. 5, 2009) - OnTrace Agri-Food Traceability (OnTrace) and BioEnterprise Corporation (BioEnterprise) announced that they will collaborate to deliver commercialization services to the agricultural and agri-food communities, focusing on the areas of industrial and commercial traceability solutions.

The requirements for traceability escalate with the implementation of Country of Origin Labeling (COOL) and GS1 product identification. The development of strong businesses offering solutions that have high integrity and reliability is critical to the success of producers and processors in the agri-food sector.

"BioEnterprise will provide business development mentoring and investment preparation for clients identified by OnTrace; and in turn will support OnTrace's delivery of traceability solutions by providing business and technical due diligence on projects," said Doug Knox, Vice-President of Technology for BioEnterprise. "The collaboration, in addition to benefiting the agri community, will also increase our two organizations contributions to our customers."

"Working with BioEnterprise will help OnTrace facilitate and encourage new ideas for traceability solutions while they are still in the gestation process," said Brian Sterling, Chief Executive Officer, OnTrace. "Between our two organizations, we believe we can accelerate the commercialization of traceability innovations, by providing expertise, research and access to funding resources. We want agricultural and agri-food traceability to happen faster. To do this, OnTrace needs to encourage inventive traceability solutions by helping businesses find both the funding and the markets that they need to grow."

About OnTrace

OnTrace is the industry-led not-for-profit corporation created to lead food traceability programs and initiatives in the province of Ontario. OnTrace's goals are: to deliver traceability solutions that will enable the agriculture and agri-food industry in Ontario to become more innovative and competitive and; to strengthen the capacity of industry and government to respond to emergencies related to agriculture and agri-food welfare and public safety.

About BioEnterprise

BioEnterprise is a not-for-profit corporation with a mandate to promote commercialization of innovative new products and technologies in the field of agriculture, agri-food, bioproducts and agri-life sciences and is building the capacity to bring human capital and investment capital to commercialization opportunities within these sectors.

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