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Funding for market development opens for BC agri-businesses


October 20, 2020
By Greenhouse Canada

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The B.C. Investment Agriculture Foundation (IAF) is now accepting project applications under the B.C. Agrifood and Seafood Market Development Program.

Funded through the Canadian Agricultural Partnership, this five-year cost-shared program is designed to help B.C. producers, processors, cooperatives and associations identify, assess and develop market opportunities to increase their sales outside the province.

“We’re thrilled to deliver funding that supports B.C. agri-businesses through each stage of market development,” said IAF executive director, Michelle Koski. “The B.C. Agrifood and Seafood Market Development Program continues to help our local farmers and food processors reach new markets and expand their sales outside of B.C.”

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Eligible projects will support the development of marketing skills and plans, the creation of market research and export-focused promotional materials, and/or participation in export-focused market development activities, including reaching new customers through interprovincial/international trade shows.

Applications will be accepted through the new online portal from October 13 until November 30. Funding decisions will be made in February 2021 and approved projects will commence in April 2021.

For information on eligibility criteria or application details, go to: https://iafbc.ca/market-development/

Industry associations, boards and councils: eligible for up to $75,000 in program funding per year. The program can cover up to 70% of total cash costs of the project, the remaining 30% must come from the applicant. 

Producers, processors and cooperatives: eligible for up to $50,000 in program funding per year. The program can cover up to 50% of total cash costs of the project, the remaining 50% must come from the applicant.

Eligible Applicants

Eligible applicants are producers, processors, cooperatives, industry associations, boards and councils that meet the following criteria: 

  • have a head office in B.C. or be entitled to do business in B.C.;
  • be selling or marketing a product that is grown or processed in B.C.;
  • contribute a minimum percentage of the total project budget in cash;
  • meet minimum total annual gross revenues (i.e. sales) for the most recent two years.

Note: A program eligibility check is completed in the first step of the application.

 


Source: B.C. Investment Agriculture Foundation (IAF)