Canadian Agricultural Strategic Priorities Program
Highlights
This program is designed for businesses in the agriculture, agri-food, and agri-based products sector. It offers a unique opportunity to secure funding for developing new ideas, products, or market opportunities. You can also address new and emerging issues, helping your business stay competitive.
Why Apply?
- Up to $1 million in funding per project.
- Repayable and non-repayable contributions available.
- Cost-sharing: AAFC covers up to 50% of eligible costs, potentially up to 75% for high-priority projects.
Benefits for Your Business
- Financial support to innovate and grow.
- Flexibility to apply for multiple projects, with a total funding cap of $5 million over five years.
- Easy qualification: Continuous application intake until March 31, 2029.
By securing this funding, you can tackle new challenges and seize market opportunities, ensuring your business remains at the forefront of the industry.
Financing Details
Type of Financing:
- Repayable and Non-Repayable Contributions: The program offers both repayable and non-repayable contributions.
Repayment Terms and Interest Rates:
- Repayable Contributions: Specific repayment terms and interest rates will be determined based on the project and agreement with Agriculture and Agri-Food Canada (AAFC).
Eligible Expenses:
- Eligible Costs: Contributions can be used for a variety of project-related expenses, including:
- Development of new ideas, products, or market opportunities.
- Addressing new and emerging issues within the agricultural sector.
- Finding and testing solutions to ongoing challenges to remain competitive.
Ineligible Expenses:
- Ineligible Costs: Funds cannot be used for in-kind contributions. Only cash contributions are eligible.
Fees:
- Associated Fees: There are no specific fees mentioned for participating in this program.
Qualifications
- Must be part of the agriculture, agri-food, or agri-based products sector.
- Must have projects that can be completed by March 31, 2029.
- Must be able to provide a minimum of 50% of the project costs in cash contributions.
Must be able to demonstrate significant benefits to Canadians if seeking more than 50% AAFC contribution.
Disqualifications:
- In-kind contributions are not eligible.
Description
This program is designed to help your business in the agriculture sector grow and stay competitive. You can receive up to $1 million for each project, with a total of $5 million over five years. This funding can be used to develop new products, explore niche markets, or address emerging issues in your industry.
The support comes in the form of both repayable and non-repayable contributions. Typically, the costs are shared equally between you and Agriculture and Agri-Food Canada (AAFC), with AAFC covering up to 50% of eligible costs. In cases where your project is a high priority or addresses public safety concerns, AAFC may cover up to 75% of the costs, and in exceptional cases, even more.
Your portion of the cost must be in cash contributions. This means you need to provide monetary contributions either from your own funds or from third parties to cover your share of the project costs. This program offers a significant opportunity to innovate and expand your business, ensuring you remain competitive in the market.
Program Steps
Gather Required Documentation: Prepare the necessary documents for your application. These include:
- Business plan
- Financial statements (e.g., balance sheets, income statements)
- Project proposal detailing the new idea, product, niche, or market opportunity
- Proof of cash contributions
Complete the Application Form: Fill out the application form provided by Agriculture and Agri-Food Canada (AAFC). Ensure all sections are completed accurately.
Prepare a Detailed Budget: Outline the total project costs and specify the amount requested from AAFC. Include a breakdown of eligible costs and your cash contributions.
Submit the Application: Send your completed application form, along with all required documentation, to the AAFC. Follow the submission guidelines provided on their website.
Await Confirmation: After submission, wait for confirmation from AAFC that your application has been received. They may contact you for additional information or clarification.
Review and Approval: AAFC will review your application to ensure it meets the program’s objectives and criteria. This may involve discussions or requests for further details.
Receive Funding Decision: Once your application is reviewed, you will be notified of the funding decision. If approved, you will receive details on the funding amount and terms.
Sign Agreement: If your application is approved, sign the funding agreement provided by AAFC. This agreement will outline the terms and conditions of the funding.
Implement the Project: Begin your project as outlined in your proposal. Ensure you adhere to the agreed budget and timelines.
Submit Progress Reports: Provide regular progress reports to AAFC as required. These reports should detail the project’s advancements and any financial expenditures.
Complete the Project: Finish all project activities by the specified deadline. Ensure all final reports and documentation are submitted to AAFC.
Final Review: AAFC will conduct a final review of your project to ensure all objectives have been met and funds have been used appropriately.