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Feds invest in ag accelerator

Feds invest in ag accelerator

Bioenterprise Corporation will receive up to $2.28 million

By Diego Flammini
Staff Writer
Farms.com

The federal government showed confidence in Ontario’s agribusinesses with a multimillion dollar investment.

Lloyd Longfield, Member of Parliament for Guelph, announced today that Ottawa is investing up to $2.28 million into Bioenterprise Corporation, which provides entrepreneurs with such supports as mentoring and pitch preparation.

Longfield announced the funding on behalf of Navdeep Bains, the federal innovation, science and economic development minister, at the first Innovation Expo in Guelph. The event featured more than 100 companies that have received funding and support through Bioenterprise and Innovation Guelph.


L to R: Anne Toer Fung, Executive Director, Innovation Guelph; Dave Smardon, President and CEO, Bioenterprise Corporation; Lloyd Longfield, MP for Guelph; Mickey Campeau, Program Manager, Innovation Guelph; Jessica Bowes, Vice President, Commcercialization, Bioenterprise Corporation.

“Starting a business is really a question of knowing who can help you and what kind of support is out there,” Longfield said. “All across Canada, people know this (region) is a hotbed for innovation and know that what goes on (in Guelph) goes beyond (the local community).”

The new funding will help 52 start-ups succeed in the agribusiness sector and create nearly 300 jobs in southern Ontario, he added.

 Bioenterprise will use the investment to continue supporting local ag entrepreneurs.

The organization received $4.84 million from the federal government in 2016. It used that funding to support 115 companies, bring 135 new products and services to market and generate more than $37 million in new revenue and private sector investment.

This new round of funding will help ensure that innovation is part of Guelph’s future, said Dave Smardon, president and CEO of Bioenterprise.

“The future for Canadian businesses is investing in the small startups that become big corporations. If nobody is investing in those small businesses, we have a problem,” he told Farms.com. “We are located in a community where great work is being done at the University of Guelph but, with this funding, we may also be able to attract new businesses from other parts of Ontario.”


Trending Video

US “Flash Drought” Worst in 133-160 Years + Disease taking a Bite out of US 2025 Corn/Soybean Crops

Video: US “Flash Drought” Worst in 133-160 Years + Disease taking a Bite out of US 2025 Corn/Soybean Crops


A dry August and a “flash drought” in the ECB (Eastern Corn Belt) the driest top 10 to 15 years in 150 to 160 years (Ohio the driest in 133 years) plus disease is taking a bite out of the 2025 U.S. corn and soybean crops.
It's going to be an early harvest. This could be the start of the 89-year drought cycle that may have been delayed until 2026 as La Nina maybe returning.
The USDA September crop report is all about record corn ears and record soybean counts but the October USDA crop report will be about pod and ear weights.
Stats Canada reported higher forecasts for the 2025 Canadian Prairies all wheat and canola crops vs. last year based on satellite imagery but are they overestimating production?
The 2025 Great ON Yield Tour and Quebec crop tours are projecting corn and soybean crops below the 10-year average.
China's Vice Commerce Ministry Li Chenggang visits Washington this week as we continue to connect the dots is a positive sign towards a China/U.S. trade deal. But will U.S. farmers have a winter without China as they buy more soybeans from Uruguay/Argentina? U.S. Northern Plain soybean farmers are seeing red with flat prices at $8.97/bu!
U.S. corn exports on record pace up 99% vs. last year.
Fund short covering continues in corn futures bottom is in!