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.
Enterprises applying for the Bioenterprise SmartGrowth Program must:
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:
- one electronic version of the online SmartGrowth R3: Full Application Form;
- 2022-23 Full Application Workbook Microsoft Word template
- Budget Workbook Microsoft Excel template;
- required appendices.
The Full Application is the detailed information package on the proposed project, including:
- detailed project plan outlining the objectives, activities, milestones, and outcomes;
- summary of project partners and their involvement, as well as expected outcomes from their participation;
- assessment of the projected economic growth, industrial benefits, and business outcomes of the proposed project;
- implementation plan, including financial plan, rationale for the funding request, activity launch, timelines, and milestones initializing activities and achieving results;
- escription 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:
- Critical Letters of Support as evidence of need and/or potential for commercial adoption (not required but encouraged);
- two (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;
- internally prepared financial statements for the current fiscal year to the date of application submission;
- pro-forma financial statements for the balance of the current fiscal year;
- evidence of matching funding available or accessible by the Applicant, such as:
- proof of available operating line of credit;
- Letter of Comfort from the Applicant’s bank or accounting firm
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:
- January 14, 2022 – LOI Submission Deadline;
- January 28, 2022 – Shortlisted Applicants Notified;
- February 18, 2022 – Full Application Submission Deadline;
- March 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:
- Agri-Management Tools;
- Artificial Intelligence (AI);
- Autonomous Agricultural Machinery;
- Blockchain Technologies;
- Cloud-Based Solutions;
- Digital Agriculture;
- Farm Management Technologies;
- Internet of Things (IoT);
- Sensor & Imaging Technologies for Food Processing;
- Machine Learning Technologies;
- Precision Agriculture & Data Analytics.