CFIN Innovation Booster
At a glance
- Max. $200,000
- 50% of project cost
- Open Date : October 09, 2023
- All industries
- Canadian Food Innovation Network
Overview
Eligibility criteria
- Small and medium sized enterprises incorporated in Canada (under 499 FTEs and $50M in annual sales)
- Not-for-profit organizations that facilitate and fund research and development and whose funding is received primarily from private-sector organizations
- Under special circumstances, Canadian researchers at post-secondary institutions
Who is eligible
Small and medium-sized enterprises incorporated in Canada (under 499 FTEs and $50M in annual sales), Not-for-profit organizations that facilitate and fund research and develoent and whose funding is received primarily from private-sector organizations, Under special circumstances, Canadian researchers at post-secondary institutions
- Small and medium-sized enterprises incorporated in Canada
- Not-for-profit organizations that facilitate and fund research and development
- Canadian researchers at post-secondary institutions
Eligible expenses
Below are the eligible expenses for this grant:
- Direct Labour
- Subcontractors and Consultants
- Direct materials
- Equipment
- Other Direct Costs
Evaluation & selection criteria
Yes, there are evaluation and selection criteria for this grant. The evaluation and selection criteria for the Innovation Booster program are:
- Overview of the business model and value proposition
- Clarity on financial capability
- Description of innovation or technical hurdle
- Articulation of project objectives
- Design and methodology for project implementation
- Innovative aspects and IP potential
- Alignment with CFIN's Innovation priorities
- Identification and quantification of direct benefits
- Identification, quantification, and credibility of benefits to the food sector
- Detailed project work plan
- Comprehensive budget aligned with CFIN eligible cost policy
How to apply
- Step 1: Register as a CFIN member through www.cfin-rcia.ca
- Step 2: Submit an application on CFIN’s Application Portal: https://cfin-rcia.smartsimple.ca/
- Step 3: Complete the eligibility pre-screening questions in the online Application Portal
- Step 4: Provide supplemental documents like pitch decks, letters of support, and financial statements
- Step 5: Await confirmation of receipt of your application via email
- Step 6: If approved, enter into a Master Project Agreement with CFIN within 30 business days
Grant Summary:
The Innovation Booster grant is designed to support Small or Medium Enterprises (SMEs) in overcoming food innovation challenges to achieve their commercialization goals. The program provides funding for projects addressing technical hurdles in the food sector, emphasizing innovation priorities like Smart Product and Process Development, Food Ecosystem Sustainability, and Agile and Safe Supply Chains.
Detailed Explanation of the Innovation Booster Grant:
The Innovation Booster grant offers flexible and rapid support to SMEs and Canadian researchers collaborating with industry partners to tackle food innovation challenges hindering commercialization. Projects should focus on areas like health benefits, robotics, sustainability, and supply chain safety, aligning with CFIN's innovation priorities. Eligible entities can receive up to 50% of total project costs between $20,000 to $200,000, with a one-year project timeline.
Applicants must demonstrate their financial capacity, meet TRL eligibility requirements, and engage external resources. The application process involves submitting project proposals through CFIN's Application Portal, with assessments based on criteria like project rationale, innovation aspects, alignment with priorities, and budget details. Successful projects will be selected based on merit to receive funding and support for their food innovation endeavors.
Overall, the Innovation Booster grant aims to advance food industry innovation, foster sustainability, and enhance supply chain efficiency through collaborative research and development initiatives.
