BIOENTERPRISE www.bioenterprise.ca
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Promoti agri-tech
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ing Canadian hnology to the world
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AGRICULTURE
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AGRICULTURE  p  Bioenterprise
“To understand the work done by Bioenterprise is to understand the limitless potential of agricultural technology‌â€?
Since 2002, Guelph, Ont.-based Bioentreprise has been shining the limelight on Canadian companies developing innovative products and process by bringing them to investors and, subsequently, to market.
and steer us away from commodities (where global competition is high), to seek out these innovations, get them to the marketplace, and to contribute to a growing and sustainable agricultural sector for Canada.� To understand the work done by Bioenterprise is to understand the limitless potential of
“OUR OBJECTIVE IS to search in Canada for new
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innovations that would have global applicability,
as two distinct areas: technology derived from
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agriculture and technology derived for agriculture.
Canadian agriculture on the global stage,� says Bioentreprise President Dave Smardon. “The longterm objective is to get Canada more focused on high-value agricultural products
The former uses technology founded in agriculture such as crop science or, more frequently, the use of agricultural products OLNH RLOV ÀEUHV DQG HQ]\PHV LQ WKH DSSOLFDWLRQ
MAY 2012 p The Canadian Business Journal
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Shelley Imbeault, T 519-854-7414 | shelleyimbeault@ofvga.org
Investment in this project was provided by Agriculture and Agri-Food Canada's Adaptation Programming and administered by the Agricultural Adaptation Council
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of neutraceuticals, cosmetics, natural health products and bio-oils for plastics and fuels. 7KH ODWWHU SHUWDLQV WR Ă€QGLQJ WHFKQRORJ\ WR DSSO\ WR PRGLĂ€HG VHHG W\SHV VHHG FRDWLQJV natural pesticides and herbicides, etc. “Agriculture is no longer just what makes it to the kitchen table,â€? says Smardon. “It is now going WR EH XVHG LQ Ă€JKWLQJ FDQFHU DQG RWKHU GLVHDVHV what is used to fuel your car as well as what you KDYH LQ \RXU KRPH :KDW WKDW PHDQV LV WKH VL]H RI the marketplace available to whoever is making that product has increased a thousandfold.â€? Since its inception, Bioenterprise has seen 500 companies whose work in agri-technology
Dave Smardon, President of Bioenterprise
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AGRICULTURE p Bioenterprise
“What that means is the size of the market place available to whoever is making [agritech products] has increased a thousand fold.” — Dave Smardon
MAY 2012 p The Canadian Business Journal
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is contributing to the global acceleration of the science. Of those, Bioenterprise has worked very closely with about 12 companies a year, connecting them to investor rounds, offering a mentorship SURJUDP DVVLVWLQJ ZLWK SDWHQWV Ă€QDQFLQJ UHJXODWRU\ issues, and everything else it takes to get a startup off and running, leaving the company with the ability to concentrate on developing its product. With many years of experience in executive roles with some of the biggest corporations in the U.S. (notably with Apple Computers), and having started up three businesses, Smardon is XQLTXHO\ TXDOLĂ€HG WR KHOS JXLGH WKHVH FRPSDQLHV “We call ourselves a business accelerator and FRPPHUFLDOL]DWLRQ DJHQW Âľ KH VD\V ´:KHQ ZH LGHQtify an opportunity we do an assessment to deter-
its “vibrant, active network of over 900 invest-
mine how unique it is in the world, is there a global
ment groups, and 65 former executives who act
interest, and whether it could be a real winner for
as coaches and mentors for these businesses,�
Canada? If it passed various tests, we then iden-
and connections to most of the biggest corpora-
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tions — all very interested in the latest innovation
company must do to be successful and we bring in
in green and bio technology — such as General
a team and we start doing those things. We work
Motors, Dow Chemical Company, Syngenta etc.
hand in glove with the management team, put our
“We have developed tools and disciplines
own support team in place, and one by one knock
that are invaluable when working with early stage
off these things so the company can be successful.
companies,� says Smardon. “This is, in some
The end game is to make sure the company has
ways, a way to give back to the entrepreneurial
its product or technology in the marketplace being
community.� CB
sold in Canada and outside.� Bioenterprise allows companies access to
WWW.BIOENTERPRISE.CA
AS SEEN IN THE MAY 2012 ISSUE OF THE CANADIAN BUSINESS JOURNAL