What is the AgriInnovation Program government funding for business? The AgriInnovation Program (AIP) is a Canadian government funding for business program that helps firms develop competitiveness, profitability, sustainability and adaptability. The AgriInnovation Program (AIP) is a 5 year initiative as a part of Growing Forward 2 beginning April 1, 2013 and running until March 31, 2018. All projects must be completed by January 31, 2018.
Why was AgriInnovation small business funding created?
The main purpose of the AgriInnovation Program is to accelerate the pace of innovation in the sector and increase its competitiveness in the global economy. This is done through small business government funding that helps enable Canadian firms to innovate.
What is the deadline for the small business loans Commercialization and Adoption Stream?
Funding for small business through AgriInnovation applications can be submitted any time and will be received up until the point that funding support has been fully allocated. Note, applications will not be considered until they have been deemed 100% complete.
What types of projects are eligible for Canadian government funding?
At this time, the Commercialization stream is only accepting applications for:
- Pre-commercial demonstration projects – projects involving the demonstration of an agri-innovation for which all necessary testing and piloting has been completed and the innovation is within 24 months of market or commercial operation; and
- Commercialization projects – projects in which agri-innovations will be introduced to the market at the successful completion of the projects.
If you have a project at the Adoption stage, please review the information on the Agri-Processing Initiative if you expect to apply before April 1, 2014.
What is the amount of government funding for business available for the Commercialization and Adoption Stream of AgriInnovation?
Under the Enabling Commercialization and Adoption stream, business funding Canada will be provided as interest-free, repayable contributions may be provided as follows:
- Up to 50% of eligible project costs to a maximum of $10 million per project for commercialization and adoption projects;
- For pre-commercialization demonstration projects, up to 50% of eligible costs, normally to a maximum of $2 million per project.
What are the repayment terms for the Commercialization and Adoption Stream of AgriInnovation?
Support under the Enabling Commercialization and Adoption Stream is fully repayable. It is provided in the form of non-interest bearing, unsecured contribution funds. Funding must be repaid over a period of up to ten (10) years following project completion.
When do projects approved for the Commercialization and Adoption Stream of AgriInnovation have to be completed?
Projects must be completed by March 31, 2018.
What expenses are eligible under the Commercialization and Adoption Stream of AgriInnovation Government Funding Canada?
- Labour including wages/salaries and benefits, and specific per diem fees;
- Contracted Services
- Professional or specialized services needed to undertake eligible project activities and for which contracts are entered into;
- Cost of contracted work related to compliance with the Canadian Environmental Assessment Act 2012;
- Capital Assets
- Building purchase, renovation, site improvement, leasehold improvements and construction costs;
- Machinery, equipment, and software purchase and installation costs;
- Other Direct Project Costs
- Rental, lease of facilities, equipment or machinery;
- Goods and services and all related shipping and transportation costs;
- Licenses and permits;
- Start-up costs, including interest capitalized during construction, insurance during
- Construction, fees and charges for operation of equipment for adjustment and calibration, and training;
- Production of materials required to fulfill obligations under the agreement, including translation and production of materials in the second official language;
- Marketing costs, such as hiring of marketing expertise and other related activities as may be deemed necessary to the success of the project;
- Materials/consumables needed to undertake the project; and
- Other reasonable costs directly related to the project (AAFC’s discretion)
- Eligible costs must be presented, in the budget, under the standard categories for all funding projects
How do I find out more information about the AgriInnovation Commercialization and Adoption Stream?
Contact a Canadian government funding expert at Mentor Works. You can also look to the following options for finding out more:
Those interested in small business grants Ontario and Canadian government grants for small business can attend a Free Canadian Government Funding Workshop and subscribe to our Canadian Government Funding E-Newsletter. Also, please follow us on LinkedIn!