The Canadian Food Innovation Network, in collaboration with FoodTech Next, is offering a startup grant to small food technology businesses and agri-businesses that made less than $1 million (CAD) in profits last year. The intent is to support agricultural technology or food industry technology that can improve food production and make it more affordable for everyone. Since the grants can be substantial and the deadline is approaching, it is advisable to apply as soon as possible.
Eligibility Criteria
Before applying, you should be aware of the requirements. You must meet the following criteria before filling out a grant application:
- Must be an incorporated Canadian business residing in and operating within the country's physical boundaries.
- Must have less than $1 million in completed annual sales for the prior fiscal year.
- Focus must be on a solution that has passed the initial launch and development stages (i.e., post-farm gate, early-stage Canadian technology).
- Ideal projects for the grant program should culminate in a prototype demonstrated in its projected working environment.
If you do not meet all the above criteria, you cannot apply, and your application will not be considered.
Grant Award Amounts
Unlike other grant programs, you will need to submit a cost expectation proposal for your project. The expected expenditures cannot exceed $500,000. The total sum of the grant, if awarded, is 50% of the proposed project cost, meaning the award could be up to $250,000.
Initial proposals are due by 11:59 PM EST on October 20, 2022 (Thursday). Late proposals will not be considered. Additionally, this year’s grant recipients will operate under a reimbursement model and will incur a 5% project management fee during all stages of project development.
The number of grants available is not specified, so distribution will likely depend on the number of awards and recipients until the funds for this year’s grant are exhausted.
Additional Business Eligibility Requirements
There are additional eligibility requirements. The project start date cannot be earlier than January 1, 2023. Business owners must have a strong business plan, marketing plan, and rollout plan before applying. You must also have a working relationship with one food sector business (not a food product initiative, i.e., creating a new food to sell to the public) to demonstrate the technology of your project.
Expected Timeline and Deadlines to Apply and Participate
- Letter of intent/initial proposal is due by October 20, 2022 (Thursday).
- A full proposal for the first round of accepted applicants must be submitted by December 21, 2022 (Wednesday), no later than 11:59 PM.
- If you pass the second round, your project start date should not begin before January 1, 2023. Final approval letters will be released in the latter half of January 2023.
- Finalists and semi-finalists will be invited to, and are expected to participate in, a collaboration event in February 2023 as part of the agreement to accept grant funds.
Hurry Up but Do a Good Job
Time is running out! While this grant is nearing its deadline and applicants should hurry, make sure your initial proposal is well-prepared and free of grammatical errors. If you cannot write the proposal yourself, consider hiring a skilled grant writer to ensure the job is done well. Visit the Canadian Food Innovation Network when you are ready to fill out and submit your application.
