Growing Forward 2 Policy Provides Canadian Agricultural Funding for Small Business


  • CAMBRIDGE, ONTARIO–(Dec. 19, 2012) - Agriculture and Agri-Food Canada (AAFC) recently announced three new Canadian Government funding programs that will come into effect on April 1, 2013 under the funding umbrella Growing Forward 2. The announcement addressed important questions mentioned in our previous article on the potential funding changes in the New Growing Forward 2 Policy Framework. Growing Forward 2 is a five-year agricultural policy framework, providing up to $3 billion in Canadian business grants and loans to support Canada’s agricultural sectors.

    1. The AgriInnovation Program: R&D Funding

    The AAFC has released some preliminary information regarding the new AgriInnovation Program (AIP). AIP was adapted from the previous Growing Forward framework, which featured a similar two-stream funding program. Stream A of AIP provides grant funding for agricultural industry-led R&D, while Stream B provides loan funding for small business commercialization projects involving agri-food/agricultural related products and technologies.

    2. The AgriMarketing Program: Marketing Grant

    The new AgriMarketing Program is also adapted from the previous Growing Forward Framework. The new program will focus on providing Canadian grant funding for small business export development through the adoption of quality and food safety assurance systems and implementation of foreign market strategies.

    3. The AgriCompetitiveness Program: Agri Funding for Small Business

    The AgriCompetitiveness program is a completely new addition to the new Growing Forward 2 Policy Framework. The program provides Canadian business funding support for direct investments that would encourage Canadian entrepreneurs and businesses respond to emerging trends and opportunities in the agricultural industry.

    Canadian Government Funding Updates and Application Support

    The AAFC is expected to release the new program eligibility and funding details for the New Growing Forward 2 Programs sometime between now and March 2013. Mentor Works Ltd. will continually monitor this policy as it develops and provide notifications and in-depth overviews as details are released. To follow these posts, please sign-up for our Canadian Government Funding E-Newsletter.

    Mentor Works Ltd. provides Ontario SMEs with Canadian Government funding advice and application support to create a diversified funding strategy involving Canadian Government Funding Grants, Loans, and Tax Credits for business expansion/development projects. Please contact a Mentor Works Canadian Government Funding Expert for program and service information that would apply to your business.

     


About The Author

Mike Pearce

Mike is a Business Development Intern with Mentor Works. He is currently in the midst of receiving his Undergraduate degree from the University of Waterloo’s Environment & Business Co-op Program. He plans to specialize his degree in Economics and Environmental Finance.

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