New program to assist agri-food start-ups keep away from pitfalls
A brand new incubator program guarantees to “fill the gap” and foster early stage agri-food firms and their applied sciences in Saskatchewan.
The Global Agri-Food Advancement Partnership (GAAP) in Saskatoon is meant to help agri-food companies advance their applied sciences to market adoption.
The not-for-profit group is a partnership between Ag-West Bio, the Global Institute for Food Security (GIFS), Innovation Place and the Saskatchewan Food Industry Development Centre. It was created to assist rising firms within the agri-food sector acquire entry to amenities, coaching, mentorship, concierge providers and funding over a three-year challenge interval.
“The GAAP is a success story of academia, government, not-for profits and industry working together to develop the innovation system,” Ag-West Bio chief government officer Karen Churchill mentioned throughout a information convention Nov. 12.
She mentioned the founding group decided that a big piece was lacking within the innovation pipeline — motivation to make the mandatory connections to develop the know-how ecosystem and develop ag companies in Saskatchewan.
“The partners each brought strengths. We all recognized where there were struggles and we were trying to get innovation at the consumer stage. Each of us had something to offer, and that is what inspired us to decide to actually move ahead and do something,” she informed reporters.
“We offer a novel platform designed to address those unique challenges. Traditional accelerators do not work in the agri-food space, which is why we needed to create a unique answer.”
She mentioned one of many most important goals is to assist start-up firms make it by way of “the valley of death,” the place they’re unable to draw enterprise capital however are past start-up funding.
“The missing piece of our puzzle will be filled by the GAAP,” she mentioned.
“It will extend that runway to success by providing the guidance and support coupled with the physical space to blossom in a reduced burn rate environment surrounded by innovation.”
Daniel Vandal, federal northern affairs minister answerable for Prairies Economic Development Canada (PrairiesCan) and the Canadian Northern Economic Development Agency, was in Saskatoon Nov. 12 to announce $1.5 million in funding for GAAP.
The funding is thru PrairiesCan in Saskatchewan beneath the Regional Innovation Ecosystem program.
“The world wants and needs what Saskatchewan produces,” he mentioned.
“We have proper right here a tradition of innovation and the best talent units and instruments to leverage rising alternatives. An excellent instance is tackling the problem assembly the growing calls for and wishes for meals merchandise by the worldwide inhabitants.
“The pandemic has highlighted many of the inadequacies of the global food systems and supply chains. It has meant we’ve had to innovate to adapt to increase productivity. Meeting this challenge requires investment in new agri-food technologies and the companies which will develop them.” GIFS CEO Steven Webb mentioned Saskatchewan is effectively positioned to be a key participant in agri-food and biotech innovation due to its agricultural depth and position as a constant provider of high-quality meals components.
“Innovation is a team sport, and we have a deep bench here in Saskatchewan,” he mentioned.
“There’s no doubt in my mind that agriculture is a solution to climate change. Innovation in agriculture is a solution to economic growth. It’s a solution to environmental challenges that we face, and it can build a more sustainable future.”
However, GAAP companions acknowledged that agri-food firms have many challenges and don’t have the standard points confronted by many different start-ups.
“They often need highly specialized equipment, staff, have high upfront costs, and face a long road to market entry and revenue generation,” Churchill mentioned.
“This is why the GAAP is unique. No other organization provides what we are proposing. The GAAP is not just an accelerator. It is not just funding. It is not just an incubator. It is a combination of all of these things and more.”
GAAP is a separate entity with its personal facility and employees.
“We hope to have as many as 30 companies come through the GAAP over a 20-year lifetime,” she mentioned.
“Hopefully it continues past that, but that is the initial plan.”
Negotiations are underway with the primary firm, which Churchill expects can be introduced in January.
Contact william.dekay@producer.com
from https://vegetablesnow.com/new-program-to-assist-agri-food-start-ups-keep-away-from-pitfalls/
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