Agtech Growth Fund
Highlights
This program is designed for businesses like yours that are looking to innovate in the agricultural sector. It offers non-repayable grants to help you develop and commercialize new technologies. This means you can focus on creating solutions without the burden of repayment.
Key Benefits:
- Non-repayable grants to fund your R&D projects.
- Up to 30% of your project budget covered by the program.
- Priority given to projects with academic partners, enhancing credibility and support.
By participating, you can accelerate your product development, gain industry recognition, and contribute to solving significant agricultural challenges. The application process is straightforward, and with the right project, you have a strong chance of qualifying.
Financing Details
Type of Financing: Non-repayable Grant
Repayment Terms and Interest Rates:
- No repayment required.
- No interest rates apply.
Eligible Expenses:
- Research and Development (R&D) projects.
- Digital Ag Software/Hardware (e.g., sensors, imagery, precision ag).
- Smart Farm Equipment (e.g., robotics, machinery, automation).
- Animal Health.
- Agrifood Supply Chain (e.g., traceability).
- Agricultural Marketplace and Fintech.
Ineligible Expenses:
- General operational costs.
- Non-R&D related expenses.
- Projects not addressing a specific industry challenge.
Fees:
- No fees associated with the program.
Qualifications
- Proposed by a group of active private sector partners that represent the project’s value chain (researchers, those involved in the production/supply process, and customer/end users).
- Active partner: participating in the project either through cash and/or in-kind contribution, equity investment, and/or letter of intent to purchase.
- Project must be led by a Saskatchewan-based organization.
- Preference will be given to lead proponents with headquarters presence in Saskatchewan.
- The project group can consist of non-Saskatchewan organizations, provided the majority of the group have headquarter presence in Saskatchewan.
- Priority is given to proposals that also have an academic partner from a Saskatchewan post-secondary or research institute.
- Demonstrate how the technological innovation will solve a specific industry-wide challenge and benefit the agriculture sector as a whole, not just individual companies.
- Technological solutions must be novel and innovative.
- Demonstrate a feasible path to commercialization and how the benefits of the project will be sustained over the long-term.
- Industry partners must provide 50% or more of the project’s budget.
The amount requested from Innovation Saskatchewan (IS) is no more than 30% of the proposed budget.
Disqualifications:
- Projects led by non-Saskatchewan organizations with innovative technologies of significant benefit to Saskatchewan will be assessed on a case-by-case basis. IS reserves full discretion to declare the lead proponent ineligible.
Description
This program offers your business a non-repayable grant to help with research and development (R&D) projects in the agricultural sector. You can use this money to create new technology or improve existing ones, focusing on areas like digital agriculture, smart farm equipment, animal health, and more.
You can receive up to 30% of your project's budget from this grant. The rest of the funding must come from your industry partners, who need to cover at least 50% of the costs. This ensures that your project has strong support and a clear path to commercialization.
The grant is designed to help you tackle specific industry challenges and bring innovative solutions to market. By participating, your business can contribute to the growth and advancement of the agricultural sector, making a lasting impact.
Program Steps
Register on the Online Application Portal: Visit the online application portal to create an account. This will allow you to access the application forms and track your application status.
Complete the Eligibility Questionnaire: Fill out the "Eligibility Questionnaire" on the portal. This step ensures that your project aligns with the program’s focus areas and criteria.
Prepare Required Documentation: Gather the necessary documents to support your application. These typically include:
- Business plan
- Financial statements
- Project proposal
- Letters of intent from partners
- Proof of Saskatchewan-based organization status
- Any additional documents specified in the program guidelines
Submit an Expression of Interest (EOI): Complete and submit the EOI form through the application portal before the intake deadline. This form outlines your project and its alignment with the program’s objectives.
Wait for Invitation to Submit Full Proposal: If your EOI is shortlisted, you will receive an invitation to submit a full proposal. This decision is made by the internal selection committee.
Draft and Submit Full Proposal: Prepare a detailed project proposal, including all required documentation. Submit the draft for feedback before the final submission deadline to improve your chances of success.
Review and Feedback: Take advantage of the feedback provided by the program managers on your draft proposal. Revise your proposal accordingly to address any concerns or suggestions.
Final Submission: Submit the final version of your full proposal through the application portal by the specified deadline.
Await Funding Decision: The internal selection committee will review your full proposal. You will be notified of the funding decision once it is made.
Follow Up: If approved, follow the instructions provided for the next steps, including any additional documentation or agreements required to receive the grant.
