Guelph-based Bioenterprise Corporation has been awarded $6.3 million from FedDev Ontario to set up a regional network aimed at assisting agri-food companies looking to grow their business.
"This hub will target support to later-stage companies, providing access to specialized industry expertise, mentoring and business coaching. It will also provide access to capital, which will help businesses to grow and commercialize their innovative agri-technologies," said a news release.
Bioenterprise Corporation is a national not-for-profit organization, founded in 2002, that offers commercialization services to support the growth of start-up businesses in the agricultural technology sector
As a result of this project, Bioenterprise is expected to support up to 200 businesses, establish 30 new partnerships, and create and maintain up to 1,500 jobs in the region.
"Bioenterprise Corporation is a great example of an organization that is assisting the local economy through smart, collaborative partnerships. This project will create a single point of access to quality resources that will help agri-food businesses scale up and help Canada to remain at the forefront of agri-food technologies,” said Guelph MP Lloyd Longfeld, who made the announcement on Tuesday.