National Research Council Canada-NRC

National Research Council Canada-NRC

January 15, 2015 10:31 ET

Government of Canada Supports Agri-Business Accelerator in Guelph

Bioenterprise will help innovative agri-businesses grow and prosper in Ontario

GUELPH, ONTARIO--(Marketwired - Jan. 15, 2015) - The Honourable Diane Finley, Minister of Public Works and Government Services, on behalf of the Honourable Ed Holder, Minister of State (Science and Technology), and Michael Chong, Member of Parliament for Wellington-Halton Hills, today announced the Government of Canada's investment in Bioenterprise Corporation (Bioenterprise), through the Canada Accelerator and Incubator Program (CAIP).

With CAIP's investment, Bioenterprise will receive up to $2.5 million in funding over the next five years. This funding will help provide Canadian entrepreneurs with the resources and expertise needed to develop their business plan and cultivate new international markets for products and services.

The CAIP helps Canada's innovative businesses to grow, prosper and create jobs. This organization plays an important role in preparing early stage companies for successfully accessing investment capital, and serves as an invaluable resource for entrepreneurs in developing products for a competitive global marketplace.

The Government's commitment to investing in Science and Technology will strengthen Canada's position as a global leader in scientific research while looking to harness greater Canadian innovations that create jobs, increase prosperity, and improve the quality of life of Canadians.

Quick Facts

  • On June 20, 2014, Prime Minister Stephen Harper announced fifteen incubators and accelerators chosen to advance in the selection process for CAIP, which is designed to help outstanding small and medium-sized Canadian enterprises to grow, prosper and create jobs.

  • Delivered by the National Research Council of Canada's Industrial Research Assistance Program (NRC-IRAP), CAIP provides support in the form of non-repayable contributions to a small and select number of best-in-class accelerators and incubators. Recipients will be required to demonstrate matching contributions on at least a 1:1 basis during the period of the contribution funding.

  • Bioenterprise is a not-for-profit business accelerator and commercialization agent established to help businesses at all stages, from start-up to mature businesses, engaged in agricultural-based technologies. Bioenterprise provides its clients with active engagement and extensive mentoring services while providing a wealth of scientific and technical expertise, industry knowledge, business savvy and global connections.

Quotes

"Today's announcement will ensure Canada's promising start-up businesses have the resources they need to grow, innovate and create jobs right here in Guelph. Investing in Bioenterprise is just another example of our government's commitment to strengthening Canada's Science and Technology sector. I'm proud to say that the Government will continue to support Canadian innovation, create jobs, and promote economic growth."

Diane Finley, Minister of Public Works and Government Services

"The government's top priority is creating jobs and economic growth. Through the Canada Accelerator and Incubator Program, entrepreneurs in Guelph and Wellington County will better be able to create high-quality jobs in innovative, competitive start-up businesses."

Michael Chong, Member of Parliament (Wellington-Halton Hills)

"The financial support provided by the Government of Canada through the Canada Accelerator and Incubator Program will allow us to provide commercialization services across Canada to entrepreneurs and companies engaged in agriculture, food and bioeconomy initiatives. The vision of the Canadian Government has helped to level the playing field for entrepreneurs everywhere and Bioenterprise is now able to provide key resources to help move Canadian innovations into global markets.

Dave Smardon, President & CEO, Bioenterprise Corporation

Related Product

- Backgrounder - Canada Accelerator and Incubator Program (CAIP) - Bioentreprise Corporation

Additional Links

- Prime Minister Stephen Harper helps Canadian start-up companies to grow and prosper

- Bioenterprise Corporation

Contact Information

  • Media Relations Team
    National Research Council of Canada
    613-991-1431
    1-855-282-1637 (24/7)
    media@nrc-cnrc.gc.ca
    Twitter: @nrc_cnrc

    Scott French
    Director of Communications and Parliamentary Affairs
    Office of the Minister of State (Science and Technology)
    343-291-2700