The AgriProcessing Initiative (API), mentioned in May’s blog has since been oversubscribed and is now closed for the year. This Canadian Government funding initiative provided support to existing processing companies that wished to adopt new technologies and processes necessary to sustaining today’s global marketplace. Though this funding for small business is now closed, there is a strong possibility of future programs being released in 2013 with similar objectives and eligibility factors. NOTICE: This blog is out-dated. For more relevant information please visit: AgriProcess Initiative Canadian government funding.
Government Funding for Small Business Overview
The Ontario government funding was introduced to increase the competitiveness of the agri-processing sector in Canada and motivated processors to acquire innovative technologies and processes when addressing business challenges. The five-year Canadian government funding initiative provided up to $50 million in business funds and could provide repayable contributions of up to $2 million per project, 50% of eligible costs towards the purchasing and installing of new-to-company machinery and equipment in Canadian facilities. The non-interest unsecured contributions must be repaid within 8 years of the project being completed.
Other Agricultural Canadian Government Funding Options
The AgriProcessing Initiative is no longer accepting applications, however, there are various other agricultural government funding options available to your business.
- Agri-Innovation Program (AIP): The purpose is to accelerate the rate of identification, assessment, development and adoption of innovation-based products, thereby providing new market-oriented, commercialization opportunities for the agri-food sector. Currently, Stream A Component 1 business funding grants for value chain development activities and Stream B, the Commercialization Stream that helps facilitate the adoption of commercialization of agri-based technologies and innovations in the agricultural agri-food and agri-based sectors, is currently accepting applications.
- SD Tech Fund: As mentioned in the SDTC Cleantech Receives $53M for funding blog, this fund helps subsidize expenses related to late stage development of pre-commercialization strategies of clean technologies.
- Canadian Agricultural Adaptation Program (CAAP): The five-year government funding for business program objective is to facilitate the agriculture, agri-food and agri-based products sector’s ability to seize opportunities, respond to new and emerging issues and pilot solutions to new and ongoing issues in order to adapt and remain competitive. This program provides $163M over five years and is available for eligible projects identified and carried out by the agriculture, agri-food and agri-based products sector. This program is still open and accepting applications.
- AgriMarketing Program (AMP): This program aims to enhance the marketing capacity and competitiveness of the Canadian agriculture, agri-food, fish and seafood sectors. This program cost-shares eligible expenses at 50%, with the associations providing the remaining 50%. For small and medium-sized enterprises, it will cost-share eligible expenses at 50%, up to a maximum of $50,000 with the SME providing the remaining 50%. The program is no longer accepting applications.
Canadian Government Funding Support for Agriculture Programs
Businesses interested in learning more about various agricultural funding programs should strongly consider contacting one of our Canadian Government Funding Experts or signing up for a Free 60 Minute Canadian Government Funding Workshop. Readers can also receive weekly updates on the latest Ontario Government Funding mechanisms by signing up for our Weekly Canadian Government Funding E-Newsletter or following us on Twitter.