Agriculture and Agri-Food Canada (AAFC) is accepting applications for their Agricultural Innovation Program (AIP). The program is offered through two streams depending on the project’s stage of development; (1) Industry-Led Research and Development and (2) the Commercialization Stream. Businesses may submit more than one proposal as long as projects are not related to one another.
Substantial Government Financing Opportunities for Agri-Business
The Commercialization stream offers an interest free, fully repayable business loan for up to 50% of eligible project costs or a maximum of $10 million per project. The loan is intended to facilitate the commercialization and implementation of innovative technologies and processes by Canadian agricultural firms to increase their productivity.
Eligible Businesses for Canadian Business Loans
In order to be considered eligible, applicants must fall into the following criteria:
- Businesses must be incorporated under Federal or Provincial law (Ltd., Inc., Corp., etc.)
- Classified as For-Profit, Not-For-Profit, or Co-operative firm (No governmental or educational organizations).
- Involved in the development, adoption or commercialization of innovative agri-food or agri-based products, services, technologies, or processes.
Eligible Projects for Commercialization Funding
Projects considered to be eligible under the commercialization stream must have outcomes that fall under the following criteria:
- Commercialization or adoption of innovative agricultural, agri-food or agri-based products, technologies, processes and services.
- Successful implementation of marketing strategies related to the commercialization of the innovative product, technology, process or service.
- Establishment, expansion, or modernization of a facility to adopt or commercialize the innovative agricultural product, technology, process, or service.
All projects must also demonstrate their ability to increase revenues, demand, and job creation within the Canadian agricultural sector.
Applying for Government Small Business Grants
For more information on the AIP program, businesses can Contact Agriculture and Agri-Food Canada or view our previous blog on the Agri-Innovation Program. In addition, businesses can receive additional assistance with Canadian Government Grants by contacting one of our Canadian Government Funding Specialists. Stay up-to-date with grants for small business in Ontario by following us on Twitter and LinkedIn or sign up for our Weekly E-Newsletter.