Protein Industries Canada — Technology projects
Highlights
This program is a fantastic opportunity for your business to grow and innovate in the plant-based food sector. With $150 million in funding from the Government of Canada, you can collaborate with other companies to develop new ingredients, create new products, and strengthen Canada's plant-based ecosystem. The program focuses on key areas such as genetics, crops, ingredients, and products, ensuring a comprehensive approach to innovation.
What You Get
- Up to 45% co-investment in your project costs
- Support for commercialization of your products
- Emphasis on sustainability and economic reconciliation
Benefits
- Collaborative opportunities with other businesses
- Access to expert advice during the application process
- Potential to reach a $25 billion global market share
The application process is straightforward, starting with an Expression of Interest (EOI) and moving to a Full Project Proposal. This program not only provides financial support but also offers a platform for meaningful collaboration and innovation.
Financing Details
Type of Financing: Co-Investment
Repayment Terms and Interest Rates:
- No repayment terms or interest rates. This is a co-investment, not a loan.
Eligible Expenses:
- Development of new plant-based ingredients.
- Scaling and optimization of plant-based ingredients.
- Conversion of Canadian-made ingredients into consumption-ready goods.
- Germplasm development to improve processing efficiency and quality.
- Technologies to measure and improve on-farm sustainability.
Ineligible Uses:
- General operational costs unrelated to the project.
- Expenses not directly tied to plant protein value chain advancements.
- Any costs incurred before project approval.
Fees:
- No application or processing fees.
Qualifications
- Must be a consortium of three or more companies.
- Must have a clear connection to plant protein.
- Must fall under one of the following pillars: Genetics, Crops, Ingredients, or Products.
- Must show advancements in environmental sustainability.
- Must demonstrate efforts toward economic reconciliation.
Must engage diverse and inclusive teams with meaningful participation of women, Indigenous Peoples, and/or other under-represented groups.
Disqualifications:
- Attempting to influence or having conversations about the project with any member of the Project Selection Committee prior to, during, or following a project evaluation.
Description
This program offers your business a chance to receive up to $150 million in funding. This money can be used to develop new plant-based ingredients, create new products, and strengthen the plant-based food ecosystem in Canada.
Key benefits include:
- Co-investment model: The program will cover 45% of your project costs, reducing your financial burden.
- Focus on sustainability: Projects that show advancements in environmental sustainability and economic reconciliation are prioritized.
- Commercialization support: Emphasis on bringing products to market within the project timeline.
By participating, your business can collaborate with other companies to innovate and grow in the plant-based sector, contributing to a $25 billion global market opportunity for Canada.
Program Steps
Download the Program Guide: Visit the official website and download the Technology Program Guide. This document outlines the program structure and eligibility requirements.
Form a Consortium: Ensure your project involves a consortium of three or more companies. Projects must have a clear connection to plant protein and fall under one of the program's priority areas: Genetics, Crops, Ingredients, or Products.
Prepare Documentation: Gather the necessary documents for your application. You will need:
- Business Plan
- Financial Statements
- Project Proposal
- Details of Consortium Members
- Evidence of Collaboration and Co-Investment
Submit an Expression of Interest (EOI): Complete and submit the EOI form available on the program's website. This initial application will be reviewed to ensure it meets eligibility criteria and aligns with the program's objectives.
Receive Feedback: If your EOI meets the requirements, you will receive feedback from Protein Industries Canada. This may include advice on how to improve your project proposal.
Develop a Full Project Proposal: Based on the feedback, refine your project proposal. Ensure it includes a detailed budget, work plan, and milestones, particularly focusing on sustainability and economic reconciliation.
Submit the Full Project Proposal: Once your proposal is complete, submit it for review. This stage involves a thorough assessment by the Project Selection Committee, which consists of industry experts.
Review and Approval: The Project Selection Committee will evaluate your proposal. They may approve, decline, or request additional information. If approved, discuss the final terms of co-investment and project execution.
Project Execution: Upon approval, begin executing your project as per the agreed-upon plan. Ensure regular updates and compliance with the program's reporting requirements.
Monitor and Report Progress: Continuously monitor your project's progress and submit regular reports to Protein Industries Canada. This ensures transparency and alignment with the program's goals.