Bioenterprise Corp receives federal-provincial funding

Bioenterprise Corp is receiving $2 million over five years to assist knowledge-based start-up firms in the Ontario agricultural sector. The matching federal-provincial funding was announced December 8 although the funding has been flowing for more than one year. “The intent is to mobilize experienced talent in the agri-food field to help knowledge-based start-ups succeed,” says Dr Larry Milligan, chair of the Bioenterprise board and a professor of animal and poultry science at the University of Guelph. The funding is being provided under the Agricultural Policy Framework agreement between Ottawa and the provinces and territories. In return, Bioenterprise is obligated by 2008 to develop and commercialize at least two knowledge-based companies annually, develop and formalize five strategic alliances a year and build research, investor and commercialization networks. Bioenterprise also receives in-kind funding from the City of Guelph and the private sector. In a related development, inaugural Bioenterprise president Connie Hearty has resigned, effective January 4/05. The organization’s board of directors will meet December 22 and initiate a search for her replacement….