The AgriInnovation Program (AIP) is a five-year initiative as a part of Growing Forward 2 beginning April 1, 2013 through March 31, 2018, with a project completion date of January 31, 2018 to allow for a program evaluation to occur. The AIP Enabling Commercialization and Adoption Stream is focused on helping companies with commercializing or harnessing innovative agri-products, technologies, or services. Offered through Agriculture and Agri-Food Canada (AAFC), the AgriInnovation Program (AIP) provides agricultural businesses across Canada a fully repayable loan at 0% interest for a variety of expenditures that will improve the company’s productivity or promote innovation. As the program begins in 2013, the focus will be on pre-commercialization product demonstration and product commercialization. Although this stream was created with Adoption projects in mind, funding can be obtained, initially, through Agri-Processing Initiative, a more established program with remaining funding. Agri-Processing Initiative will remain open until April 2014 or until funding is fully allocated, at which point the Growing Forward 2 AgriInnovation Program’s Enabling Commercialization and Adoption Stream will focus on adoption projects, in addition to commercialization projects.
Type of Funding for Small Business & Funding Limitations
The following are characteristics and limitations for the use of the Agri-Innovation Program’s Enabling Commercialization & Adoption Stream:
- This funding is a repayable loan
- The maximum funding per project is $10 million, while the normal awarded amount is $2 million.
- Maximum $10 million per year, in total, from any combination of Agri-Innovation steams
- Stacking funding cannot exceed 75% of the project cost
- In-kind contributions are not eligible
Canadian Government Funding Terms of Repayment
For this Canadian government funding program the 10-year repayment term begins 1 year after the project is completed. Interest is not charged with the exception of late payments or outstanding debts.
More Information on the AgriInnovation Program’s Enabling Commercialization & Adoption Stream
For more information on this government funding for business program please choose from one of the following options:
Also look to our AgriInnovation FAQ’s blog if you have further questions regarding this program.
Again, until April 2014 please projects classified as “adoption” will be pointed to the Agri-Processing Initiative for funding support.
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