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Identifying Canada's path to becoming a global agri-food innovation powerhouse | Business

Identifying Canada's path to becoming a global agri-food innovation powerhouse | Business


GUELPH, Ontario–(BUSINESS WIRE)–May 27, 2024–

BioEnterprise Canada has launched a national roundtable series aimed at identifying and unlocking Canada’s potential as a global agri-food powerhouse. The effort kicked off in Calgary on April 29 with the first of seven provincial and territorial roundtables to identify and understand the barriers that are preventing Canadian food and agri-tech entrepreneurs from successfully commercializing their innovations.

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BioEnterprise Canada has launched a national roundtable series aimed at identifying and unlocking Canada's potential as a global agri-food powerhouse. The initiative kicked off on April 29 in Calgary with the first of seven provincial and territorial roundtables aimed at identifying and understanding the barriers that are preventing Canadian food and ag tech entrepreneurs from successfully commercializing their innovations. (Photo: Business Wire)

According to Bloomberg, Canada ranks 9th in the world in spending on agricultural research, but only 21st in turning that research into practical, marketable innovations.

“We believe the key to closing the agri-food innovation gap lies in understanding the challenges that exist in our regions, provinces and territories so we can develop a national strategy that addresses these barriers while simultaneously scaling up successful local programs and initiatives,” said Dave Smerdon, CEO of BioEnterprise Canada. “Canada is a vast and diverse country with an incredibly multifaceted agri-food industry, and it's critical that we find ways to work together more effectively to create more efficient, collaborative resource and support programs that help our sector, our economy and our country thrive.”

As a driving force in Canadian food and agriculture technology, BioEnterprise, with the support of its partners Bennett Jones law firm, Agriculture and Agri-Food Canada, the Canadian Federation of Agriculture and Canada Farm Credit, is driving the creation of a better, more inclusive national agri-food innovation environment.

In this project, you will:

Analyze and connect the complex network of interacting organizations and their respective services in each region's agri-food sector and identify gaps in the ecosystem. Provide recommendations to ensure that Canada's considerable research strengths are effectively translated into practical, marketable solutions that enhance Canada's competitiveness in the global agri-food sector. Foster collaboration across existing national networks that accelerate commercialization by facilitating the open sharing of knowledge, resources and best practices. Convene industry leaders to engage in the process of identifying and addressing specific barriers to innovation so that subsequent policies and strategies are well-informed and impactful.

“Canada's potential to become a global agri-food powerhouse is rooted in our abundant natural resources, leading research institutions and strong focus on sustainable agricultural practices,” said Lorelei Graham, Partner and Head of the Agribusiness Industry Team at Bennett Jones. “We are proud to support this effort to successfully commercialize agri-food innovations and keep them in Canada. This will drive economic growth, reduce carbon emissions and contribute to food security.”

The project will continue with events with stakeholders from Alberta, British Columbia, Saskatchewan, Manitoba, Ontario, Quebec and Atlantic Canada, culminating in the Agri-Food Innovation Summit in Ottawa this fall.

Expected outputs of the project include an innovation ecosystem roadmap of key resources and stakeholders in each region, a comprehensive insight report outlining the challenges and opportunities identified during the roundtable, policy recommendations to improve the commercialization process and reduce regulatory barriers, a strategic action plan and framework to improve collaboration between industry, government, academia and other stakeholders, and regional-level best practices and case studies that can be applied nationwide.

Funding for this project was provided in part by Agriculture-Food Canada, Bennett Jones LLP, the Canadian Federation of Agriculture and Farm Credit Canada.

About BioEnterprise Canada

Bioenterprise is Canada's food and ag technology engine and national commercialization accelerator focused on agricultural technologies. Leveraging more than 20 years of industry experience and a global network of experts, mentors, funders, researchers and industry partners, Bioenterprise helps small and medium-sized agri-food businesses connect, innovate and grow.

About Bennett Jones

Bennett Jones LLP is an internationally recognized Canadian law firm that clients across Canada and around the world turn to for their most complex legal issues. With 500 lawyers and business advisors in offices across Canada and internationally, the firm works with some of Canada's largest and most successful companies. The firm's team is known for its ability to deliver an exceptional client experience, in-depth knowledge of its clients' businesses and industries, and a track record of building long-lasting client relationships.

About the Canadian Federation of Agriculture

The Canadian Federation of Agriculture was founded in 1935 as a unified voice representing Canadian farmers. Its work continues today as a farmer-funded national umbrella organization, made up of provincial integrated agricultural organizations and national and interprovincial commodity groups. CFA represents producers of all commodities on farms of all sizes and, through its members, represents approximately 190,000 farmers across Canada.

About the FCC

FCC is proud to be 100% invested in Canadian agriculture and food. Our employees are committed to the long-term success of the people who produce and process Canada's food. FCC provides flexible financing and capital solutions while creating value through data, knowledge, relationships and expertise. FCC offers a complementary range of financial and non-financial products and services designed to support the complex and evolving needs of the industry. As a commercial Crown corporation, FCC is a stable partner that reinvests profits in the industry and the communities we serve.

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Contact: Dave Smardon, Bioenterprise Canada

[email protected] or (519) 821-2960

Lorelei Graham, Bennett Jones

[email protected] or (416) 777-6547

Keywords: North America Canada

Industry Keywords: Agriculture Biotechnology Food Technology Natural Resources Health Technology Food/Beverage Retail

Source: BioEnterprise Canada

Copyright Business Wire 2024.

Published: 2024/05/27 10:00 AM / Disc: 2024/05/27 10:02 AM Press release




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