Agtech accelerator Bioenterprise and Farm Credit Canada agree to develop an innovation ecosystem.

Bioenterprise and Farm Credit Canada (FCC) entered a 15-month agreement in January to promote growth and innovation in Canadian agri-businesses. (CountryGuide)

Bioenterprise is a non-profit commercialization accelerator active in the Canadian agtech space. Farm Credit Canada (FCC) is a federal Crown corporation that lends to agribusinesses and food producers across Canada. FCC also provides venture capital, insurance, and management services to these enterprises.

BioEnterprise

Bioenterprise works across Canada with companies at all stages to commercialize agriculture, agri-food, and agri-product innovations. Also, it provides business advisory, technical and commercial expertise, and a global network to help innovative agri-businesses.

It is funded through the Canada Accelerator and Incubator Program (CAIP), delivered by the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), Innovacorp, and other partners across the country; and the Canadian Agricultural Partnership (the Partnership), a federal-provincial-territorial initiative.

In one example, the firm helped Anatis Bioprotection, which offers all-natural pest control products to farmers as greener alternatives to conventional insecticides. Its flagship product is BioCeres, a bio-insecticide from a fungus whose spores can infect and kill pests. It was a long journey for founder and president, Dr. Silvia Todorova, to perfecting the insecticide.

However, Bioenterprise helped Anatis put together a business plan, build financial models, and connect them with distributors and partners. “It was a good fit,” says Jean-Bernard Gélinas, Director of Marketing and Business. “They helped the company to get on track.” Bioenterprise’s links to Ontario greenhouse growers — a target market for Anatis — was a crucial advantage.

Notably, Bioenterprise has successfully brought to market 2,500 innovations since 2005.

BioEnterprise sought a partner for innovating in Canadian agtech

Dave Smardon, president and CEO of Bioenterprise, told CountryGuide that the firm was looking to step up development and innovation in Canadian agtech and was searching for a suitable partner.

Meanwhile, FCC wanted to reboot its venture capital program for agtech. According to Rebbecca Clarke, vice-president and treasurer, FCC was looking to invest agricultural venture capital to spur entrepreneurial innovation in agtech.

Therefore, an agtech accelerator such as Bioenterprise checked the boxes for FCC. Bioenterprise could provide increased access to accelerator services for entrepreneurs and innovative companies in Canada’s agribusiness and agri-food sector.

“FCC is the Canadian standard for financial support and banking in agriculture and agri-food in the country,” Dave Smardon, president and CEO of Bioenterprise, told CountryGuide. “They have connections that span the entire value chain, so this is a perfect partnership for us.”

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