Although the program is currently closed, the Canadian Agricultural Adaptation Program (CAAP) has been providing valuable Canadian Government funding for small business ventures in the agriculture/agri-food based sectors since 2009. The program was given a five-year timeline to allocate $163 million in Canadian Government Grants to support those businesses that are looking to pilot new solutions and respond to emerging challenges in the agricultural/agri-food industry.
Canadian Government Funding for Small Business Opportunities
The Canadian Agricultural Adaptation Program (CAAP) is intended to promote the development of innovative and cutting edge solutions within the agriculture and agri-food industries. Businesses will receive financial support to seize opportunities and respond to new and emerging issues while improving their competitiveness within their industry. Eligible activities through CAAP may include incremental labour, supplies, transportation, equipment, machinery, and costs for rental or lease of facilities. For those interested in funding support similar to CAAP, the Agri-Innovation Program is still open for applications.
Receiving Business Funding Grants
The amount of funding provided through CAAP can vary on a case-by-case basis; however, Canadian SMEs could receive a $100K grant or up to 85% of the eligible project costs through repayable Canadian Government grants. For-profit organizations will be expected to repay CAAP’s cash contribution within the 8-years following the project’s end date along with a 15% project contribution through cash and/or in-kind contributions.
Ontario Business Funding Details
As of late, there have been some recent Changes with the Canadian Agricultural Funding Programs, businesses that would be interested in learning more about these changes and the Ontario Government Funding Programs that are currently available can contact a Canadian Government Funding Expert or sign up for a Free 60 Minute Funding for Small Business Workshop. Businesses can also receive regular updates on the latest on Canadian Government Grants for Small Business by signing up for our Weekly E-Newsletter or following us on Twitter.