FUNDING: 'Food Processing Growth Fund' Available for Food, Beverage Processors
FUNDING: 'Food Processing Growth Fund' Available for Food, Beverage Processors
A new 'Food Processing Growth Fund' is now accepting applications from B.C.-based food, beverage and seafood processors with $500,000 in annual revenue, as well as commercial food hubs and for-rent commercial kitchens. Applications are open now and will be reviewed in batches and funded on June 6 and July 18, 2023 -- future dates may be added.
Projects may receive from $50K to $1M in cost-shared funding for infrastructure, equipment, and training projects, depending on their activities and budgets. Projects may be up to 24 months in duration, but must complete no later than February 1, 2026.
Eligible Businesses:
To be considered eligible for this program, an applicant must be located in the Province of British Columbia, and must be a(n)
- Established food and/or seafood processing business, with:
- Minimum of 2 years in operation
- Minimum of $500K gross annual revenues (audited financial statements will be required for verification purposes)
- Commercial food hub, commissary kitchen and other shared-use commercial food processing facility;
Eligible Activities to be Funded:
The following project activities and costs are eligible for funding through the Food Processing Growth Fund:
- Purchase and install new or upgraded/expanded facilities and infrastructure and equipment. This includes:
- Capital investments in new and upgraded/expanded facility/infrastructure (e.g. new cooler/freezer, production room expansion).
- Eligible costs include costs for renovations, site improvements, and other related costs.
- New/upgraded equipment/machinery to increase production capacity or support product line expansion.
- Capital investments in new and upgraded/expanded facility/infrastructure (e.g. new cooler/freezer, production room expansion).
- Purchase and install new technology and systems. This includes:
- New innovative technologies, software, advanced automation such as robotics, digital or Artificial Intelligence (AI) technology and systems that would increase processing capacity (e.g. AI, automated sorters, logistic or distribution software, supply chain and logistics solutions).
- Eligible costs include costs for facility changes, upgrades and modifications required for installation of advanced automation or manufacturing technology or equipment.
- New innovative technologies, software, advanced automation such as robotics, digital or Artificial Intelligence (AI) technology and systems that would increase processing capacity (e.g. AI, automated sorters, logistic or distribution software, supply chain and logistics solutions).
- Applied Research & Development (R&D) for new and improved products, lab analysis, packaging etc.
- R&D for new and improved products using technology, access to laboratory equipment for food and ingredient development and analysis such as pH, shelf-life, microbiology testing, sensory analysis, ingredient and nutritional analysis, and applied research support and expertise (private or academic institutions).
- Training that supports infrastructure or equipment upgrades or adoption
- Specialized training and upskilling of resources. Production staff, operational staff upgrading on new skill set, new equipment, new processes or systems and also includes specialized expertise such as food scientists, food engineers, software developers and implementation training.
More Details:
Get more information on this program and the application process online here: https://iafbc.ca/fpg/