Type of Program:
The SmartGrowth Program provides SMEs in southern Ontario’s food and agri-technology sectors access to acceleration financing to support scale-up and expansion projects.
Bioenterprise’s SmartGrowth program is a matching fund that provides eligible enterprises with:
Comments on Funding:
Applicants can request up to 40% of the total budget (Eligible Project Costs) of the Eligible Project, limited to 20% of the Applicant’s Working Capital raised in the 2021 calendar year:
Applicants with approved projects will enter into a Contribution Agreement with Bioenterprise and will be required to pay Bioenterprise a Program Management Fee (PMF) of 4% of the total approved Eligible Project Costs with a minimum fee of $4,000 and a maximum fee of $10,000.
When It Ends:
January 14, 2022
Enterprises applying for the Bioenterprise SmartGrowth Program must:
complete the SmartGrowth Letter of Intent (LOI) Written Proposal Template;
complete the SmartGrowth LOI Intake Form;
attach the completed LOI Written Proposal along with a business plan and/or pitch deck and submit them. All LOIs received during open intake periods will be reviewed and assessed.
submit a Full Application, if invited; Only successful LOI applicants will be invited to submit a Full Application.
pay a one-time, non-refundable Application Fee of $200 + HST, if they submit a Full Application
All application documents, including SmartGrowth Application Form, written proposal, and required appendices (for Letter of Intent and Full Application) must be submitted online using the Application Forms. Mailed, emailed, or faxed submissions will not be accepted.
Applicants who have been invited to submit a Full Application must provide a complete package consisting of the following elements completed in full:
The Full Application is the detailed information package on the proposed project, including:
- 1detailed project plan outlining the objectives, activities, milestones, and outcomes;
- 2summary of project partners and their involvement, as well as expected outcomes from their participation;
- 3assessment of the projected economic growth, industrial benefits, and business outcomes of the proposed project;
- 4implementation plan, including financial plan, rationale for the funding request, activity launch, timelines, and milestones initializing activities and achieving results;
- 5escription of the Applicant’s business and its technology innovation (including Technology Readiness Level), as well as long and short-term growth plans;
AND the Required appendices:
- 6Critical Letters of Support as evidence of need and/or potential for commercial adoption (not required but encouraged);
- 7two (2) years of financial statements reviewed and reported on by an independent external accountant with a minimum “Notice to Reader Report” to the most recently completed year-end;
- 8internally prepared financial statements for the current fiscal year to the date of application submission;
- 9pro-forma financial statements for the balance of the current fiscal year;
- 10evidence of matching funding available or accessible by the Applicant, such as:
Other Things to Note:
I. The total funding available through the SmartGrowth Program is $2.4 million over a 4-year period from April 2020 through December 2023.
II. 2022 Timeline:
- 1January 14, 2022 - LOI Submission Deadline;
- 2January 28, 2022 - Shortlisted Applicants Notified;
- 3February 18, 2022 - Full Application Submission Deadline;
- 4March 21, 2022 - Successful Applicants Notified.
III. Successful applicants will receive a one-year complimentary Access membership to Canada’s Food & Agri-Tech Engine upon successful project completion.
IV. Digital Agriculture includes the following sub-sectors:
- 1Agri-Management Tools;
- 2Artificial Intelligence (AI);
- 3Autonomous Agricultural Machinery;
- 4Blockchain Technologies;
- 5Cloud-Based Solutions;
- 6Digital Agriculture;
- 7Farm Management Technologies;
- 8Internet of Things (IoT);
- 9Sensor & Imaging Technologies for Food Processing;
- 10Machine Learning Technologies;
- 11Precision Agriculture & Data Analytics.