Dairy production is a significant industry within Canada. To keep up with production costs, many dairy farmers and producers look to government programs to provide support for critical projects such as product development, packaging, and more. One of these programs, administered by the Canadian Dairy Commission (CDC), is called the Matching Investment Fund (MIF).
The MIF is a product development grant that offers significant opportunities to Canadian dairy businesses looking to improve their products and business operations. The Canadian government provides these funding program opportunities to help support Canadian dairy farms and companies to remain competitive on both a local and global scale.
Successful applicants for the CDC’s Matching Investment Fund (MIF) may receive up to 50% of costs to a maximum of $150,0000 (up to $25,000 may be used for consulting fees).
Moreover, smaller businesses may be eligible for up to 100% of costs to a maximum of $10,000 in funding support.
To be eligible for the Matching Investment Fund (MIF), applicants must be a Canadian dairy company and meet eligibility criteria in three categories:
- Applicant projects must meet at least one of the following general Canadian Dairy Commission’s criteria:
- A Canadian dairy ingredient is incorporated into a product formulation that previously did not contain dairy ingredients;
- Adds significant amounts of Canadian dairy ingredients to an existing product formulation to replace a substitute ingredient; and / or
- Include activities that transfer technology/knowledge with demonstrable benefits to companies or to the dairy industry in general, and more.
- Are a business with new or innovative formulation of dairy products or further processed products able to prove they meet each of the following criteria:
- Products have potential to grow the use of raw milk components or dairy ingredients that are Canadian made;
- There is a technical challenge facing a Canadian dairy ingredient or developing an innovative dairy product; and
- Dairy ingredients are being utilized made wholly or mainly from milk.
- This product will not risk displacement of current Canadian products:
- Can prove that this dairy product won’t displace other existing Canadian dairy products; or
- Current production of the product does not take place in Canada; or
- An organization intends to market a similar Canadian product in a province(s) where it is currently not manufactured and sold; or
- It is not currently possible to manufacture and distribute similar Canadian products to the same clientele via the same distribution channel.
There are two activities that are eligible for funding under the CDC’s Matching Investment Fund (MIF):
- Consultation: You gain access to specialists in the fields of product development, food science, management, and marketing.
- Product development: Testing of products, including adoption of new or existing technologies, industrial scale tests, retrofitting of facilities, and sample preparation costs, are just some of the areas that are included in product analysis, trials and technology transfer.
This program does not mention any formal deadlines, but that funding is available until fully committed.
Funding for Canadian Food & Beverage Companies
Canadian food and beverage companies are often faced with product development, processing, and business challenges. To address these hurdles, the Canadian government offers a variety of government funding opportunities for food and beverage companies, such as dairy farm grants, to help stimulate growth in one of Canada’s largest industries.