TORONTO, Canada – The governments of Canada and Ontario are investing in a new project to further support innovation, commercialization, and growth in the province’s agri-food sector.
Ontario Agri-Food Technologies will receive up to $100,000 in cost-share funding to design and launch a pilot project called the Commercial Deal Accelerator. This project will connect early-stage agribusinesses that have innovative ideas, with corporate investors to create commercialization activity. Funded through the Canadian Agricultural Partnership (the Partnership), this project is expected to and create sustainable, private revenue streams for agri-food and agri-tech entrepreneurs in Ontario.
“This initiative will strengthen the sector’s ability to quickly bring innovation to market,” said Marie-Claude Bibeau, federal minister of agriculture and agri-food. “Our government is pleased to help ensure that Ontario’s high-quality agri-food products continue to drive our economy and create good middle-class jobs,” said Marie-Claude Bibeau.
“Ontario’s agri-food and agri-tech entrepreneurs have always been leaders who find success through innovation and collaboration,” said Ernie Hardeman, Ontario minister of agriculture, food, and rural affairs. “Our government is pleased to help them continue to be successful by supporting this exciting new project through the Partnership.”
“Innovation is key to all aspects of agriculture, including how we commercialize new technologies,” said Tyler Whale, president, Ontario Agri-Food Technologies. “Importantly, the governments’ support will help Ontario maintain its leadership role in the ag-tech ecosystem, thus supporting a primary economic driver of this province and country.”
To date, both the federal and provincial governments have committed cost-share support to approximately 2,500 projects through the partnership to help eligible Ontario farmers, processors, businesses and sector organizations innovate and grow.
