BIOENTERPRISE · Bioenterprise is the largest business accelerator in Canada focused exclusively on...
Transcript of BIOENTERPRISE · Bioenterprise is the largest business accelerator in Canada focused exclusively on...
CBJ
BIOENTERPRISE
www.bioenterprise.ca
AGRICULTURE
BIOENTERPRISEBridging the concept-to-commercialization gap: How Bioenterprise helps Canada’s agri-tech innovators succeed
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“We wanted to talk to some folks that were
experts in agricultural applications of new
technologies,” Anderson explains. “They were
very obviously the best people to call.”
Bioenterprise didn’t disappoint him. They
introduced Anderson to investors, sponsored the
company’s attendance at key industry meetings
and coordinated brainstorming sessions with
sector leaders to pinpoint the applications with the
greatest potential.
Thanks in no small measure to that help, Vive
Crop Protection launched its first line-up of EPA-
registered products in 2016. “Bioenterprise support
was a critical piece of our successful launch,”
Anderson says. “Without it, we would have had
trouble getting the traction we have had.”
Handshakes and heavy-hitters What makes Bioenterprise so effective? According
to president Dave Smardon, the answer is sector
depth. “All we do is agri-tech, so we know this
industry inside and out,” he explains.
As a result, Bioenterprise clients have access
to an extensive Rolodex of potential investors,
partners, suppliers, customers and more.
Meanwhile, the organization has established
partnerships with leading professional service
providers, from bankers, lawyers and accountants
to executive search firms and food safety
consultants.
Nor do their connections stop at Canada’s
borders. You’ll regularly find Bioenterprise staffers
Vive Crop Protection had developed a brilliant technology: tiny nano-engineered “shuttles” that deliver pesticides exactly where they need to go, maximizing their effectiveness while minimizing the environmental impact.
BUT AS VIVE’S president, Darren Anderson, will
tell you, innovation alone doesn’t guarantee
commercial success. You also need business
savvy, industry knowledge and financial
resources to navigate the path to market.
That’s why the start-up turned to
Bioenterprise Corporation. With 30 team
members in offices across the country,
Bioenterprise is the largest business accelerator in
Canada focused exclusively on agri-technology.
Funded through Growing Forward 2, a federal-
provincial-territorial initiative, the organization has
helped hundreds of ventures get off the ground
or grow to the next level since 2003.
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and board members speaking at international
events or welcoming delegations from abroad.
Earlier this year, the organization helped put
together an agri-tech trade mission to Japan.
Among the mission delegates was Anderson,
keen to assess prospective demand for Vive
products in Asia. “The four-day trade mission
was a tremendous success,” he says. “We’re very
excited about the potential to begin exporting
into Japanese markets.”
Serious business savvy For newbie entrepreneurs, Bioenterprise is a
source of business advice as well. In-house
experts will review the viability of an idea,
analyze the competition, determine financial
needs, conduct market research and help clients
become investment-ready.
They can also help navigate Canada’s
complex regulatory terrain. That can be
invaluable in an industry where literally hundreds
of regulations, policies and standards govern
almost every aspect of operations — from safety
to packaging to production and more.
Take the example of Agri-Neo. The Toronto
start-up aims to set new standards for food
safety with Neo-Pure, a spray that disinfects
seeds, nuts and grains without changing their
taste or texture.
Bioenterprise helped Agri-Neo hire the right
talent, secure funding, access the regulatory
expertise they needed, and find customers.
“They’re definitely a leader in the Canadian
space in terms of working with agricultural
companies,” says President and COO Rob
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Wong. “They really made a big difference.”
Since launching Neo-Pure in 2016, the
company has attracted a roster of major
producers and distributors, along with a
2016 Ontario Premier’s Award for Agri-Food
Innovation Excellence. Earlier this year, Neo-Pure
earned FDA approval, allowing customers to use
it on an even wider array of dry foods.
Katan Kitchens is another company that credits
Bioenterprise with accelerating their success.
Founder Jamie Draves was a big believer in the
nutritional power of quinoa, a Peruvian superfood.
He dreamed of growing and processing the grain
in Ontario, supplying a booming demand for
local food. However, the agricultural sector was
uncharted territory for Draves.
Bioenterprise supplied the expertise
he lacked. They scrutinized the company’s
business plans, made important connections
and developed pitch decks. Since then, Katan
Kitchens has achieved one big win after another,
partnering with celebrity chef Vikram Vij and
securing $1 million in funding. Most recently,
they won 2017 International Start-up of the Year
at the VitaFoods European Conference, a major
global nutraceutical event.
“[Bioenterprise is] a great resource for us, and
they’ve been there through each of the stages of
the development of our company,” says Draves.
All-important dollarsOne of the biggest hurdles facing start-ups
and established companies alike is financing
growth. Here again, Bioenterprise is positioned
to help. As well as connecting clients to
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investors and assisting with funding proposals,
the organization also provides direct financial
support to selected enterprises.
In Ontario, Bioenterprise offers seed funding
for start-ups and businesses in the province
through FedDev Ontario. Since 2016, they have
delivered two rounds of seed funding totalling
$1,939,000.
For one established Guelph, Ontario
company, those dollars helped them take their
business to the next level. Since 1983, Rootham
Gourmet Preserves had been successfully
turning Ontario produce into gourmet
condiments, sold in local specialty markets and
gift stores.
But owner Will Rootham-Roberts wanted
to reach a wider audience. Using a grant from
Bioenterprise, he was able to expand processing
capabilities and launch a highly targeted
direct mail campaign engineered by one of
Bioenterprise’s corporate partners.
The results were immediate: Rootham
gained more than two-dozen new clients in just
two months. That boost to business allowed
them to expand production, hire more staff
and increase the hours of current employees.
The grant also helped support product
development with Longo’s, a chain of grocery
stores across the Greater Toronto Area, leading
to a significant contract.
“This funding was crucial,” says Rootham-
Roberts. “The immediate cash infusion allowed
us to accelerate our growth very rapidly.” Indeed,
the company not only hit their target of doubling
gross sales, but they did it in just one year
instead of the projected two.
Transforming innovation into commercial success“The fact is, Canada has no shortage of
promising agri-tech ideas, technologies and
products,” says Smardon. “Where this country
has traditionally fallen short is in turning that
innovation into commercial success. And that’s
where Bioenterprise makes a big difference.”
According to Smardon, clients that work
with Bioenterprise experience a significant
increase in growth. Over the last four years
alone, the organization’s clients have launched
more than 1,000 new products, services and
technologies; created hundreds of new jobs;
and generated over $12 million in revenues.
Bioenterprise has also worked closely with 30
companies in helping them secure more than
$120 million in investment.
That’s good news for Canada, helping
create new jobs and drive economic growth.
It’s also good news for the world as a whole. As
the global population continues to balloon, it’s
putting more pressure than ever on the planet’s
finite resources.
“The world’s future depends on agri-
technology,” says Smardon. “If we’re going to feed
another two billion people by 2050, we have to
produce more food using fewer resources. We
have to reduce our reliance on fossil fuels, and
we have to use fresh water much more wisely.
And Bioenterprise’s clients are on the forefront of
making those changes possible.” CBJ
www.bioenterprise.ca
AS SEEN IN THE SEPTEMBER 2017 ISSUE OF THE CANADIAN BUSINESS JOURNAL
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