GUELPH, ON, DECEMBER 11, 2024 — The Canadian Food Innovation Network (CFIN) is awarding a total of $503,465 to 11 foodtech projects across Canada through its Innovation Booster Program. Industry will match these funds, resulting in over $1 million in total investments.
The Innovation Booster funding recipients are:
The projects span a wide range of innovations, including the digitalization of food processing systems, enhancing the nutritional quality of alternative plant-based proteins, and product development involving sustainably sourced functional food ingredients.
AI-powered tools were also a key highlight of this funding round. For example, Toronto-based Jitto is building a smart sourcing application that will enhance market penetration and operational efficiency for food businesses, offering data-driven insights to streamline sourcing decisions and optimize supply chain management.
CFIN’s Innovation Booster provides funding and support to SMEs to help them accelerate product development, overcome innovation hurdles, and validate market fit. During this 11th round of Innovation Booster funding, CFIN received 58 applications from across the country. In total, 61 Canadian foodtech companies have received $4.7M from this program since 2021.
Across all programs, CFIN has awarded more than $20.2M to 91 Canadian foodtech projects.
QUOTES
“The diversity and creativity of Canada’s foodtech sector is on full display across these 11 projects. From cutting-edge AI applications to innovative health-focused products, each project will help aim us towards a more sustainable, efficient, and nutritious food system. CFIN is proud to support such transformative work and looks forward to seeing the lasting impact these innovations will have.”
– Dana McCauley
CEO, Canadian Food Innovation Network
“Innovations in the Canadian foodtech sector will allow the industry to improve processes through new technologies that will ensure the sustainability of food production for Canadians. Through our partnership with CFIN, we can identify the most innovative ideas and technologies to fund projects that provide opportunities for businesses to scale up their operations and create jobs across the country.”
– The Honourable François-Philippe Champagne
Minister of Innovation, Science and Industry
“These eleven projects are great examples of the kind of innovation we need to stay on the cutting edge. Our farmers work so hard to produce their products, and with the help of our processing sector, we can meet the demand from consumers for top-quality, sustainable goods.”
– The Honourable Lawrence MacAulay
Minister of Agriculture and Agri-Food in Canada
ABOUT THE PROGRAM
The Innovation Booster provides flexible and rapid support to Small or Medium Enterprises (SMEs) as they address food innovation challenges or technical hurdles that have created barriers to achieving their commercialization goals.
The Innovation Booster is administered by CFIN, which is supported by the Government of Canada’s Strategic Innovation Fund.
ABOUT THE CANADIAN FOOD INNOVATION NETWORK
The Canadian Food Innovation Network (CFIN) is a national organization that’s stimulating transformative and transferrable innovation within the Canadian food sector. With over 5,000 members and counting, CFIN has built the fastest growing and most engaged food business community in the country and their members come from across the globe, representing all parts of the food value chain. CFIN’s free membership includes access to exclusive funding programs, five Regional Innovation Directors, and YODL.
CFIN was established in 2021 and is supported by Government of Canada’s Strategic Innovation Fund and Canadian Agricultural Strategic Priorities Program.
SUPPORTING INFORMATION
Funded Project Details
Innovation Booster
CFIN Membership
CFIN Media Page
CFIN Media Kit
MEDIA CONTACT
Jamil A. Karim
Communications Director
Canadian Food Innovation Network
Jamil@cfin-rcia.ca
