Fostering Innovation. Fueling the Bioeconomy.
year in review 2010 / 2011
Introduction There’s a certain rush of adrenalin that hits you when a great idea walks through the door, when the energy crackles between two people you’ve just introduced, or when you fit the final piece into the financing puzzle to get a promising project off the ground. At Bioenterprise, we experience that rush on a daily basis. As Canada’s leading agri-tech business accelerator, we’ve worked with more than 300 companies to transform cutting-edge ideas into commercial success. Of course, achievement takes teamwork. We’re fortunate to have an outstanding lineup of professionals who serve as Bioenterprise mentors, directors and advisors. We’re also fortunate to be located within the Agri-Technology Commercialization Centre, surrounded by other innovation-driven organizations. Above all, we benefit from generous funding from Agriculture and Agri-Food Canada, the Ontario Ministry of Agriculture, Food and Rural Affairs and Growing Forward, a federal-provincialterritorial initiative. Our shared vision makes our many successes possible. And with their support, the adrenalin just keeps flowing.
table of contents Message from the Chair: Agri-Food Safety and Security. . . . . . . . . . . . . . . . . . . . . . 3 Board of Directors and Observers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Message from the CEO: The Growth of Innovation. . . . . . . . . . . . . . . . . . . . . . . . . . 5 Spotlight: New Energy Farms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 It All Starts with Science . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Science and Innovation Advisory Committee Members. . . . . . . . . . . . . . . . . . . . 9 Sector Snapshots. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Ag Management Tools . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Ag Health & Ag Pharma. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Agri-Forestry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Bio-Energy. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Bioproducts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Food, Functional Food & Nutraceuticals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Food Processing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Water Management. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 New Sectors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Our Services. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Growing a New Generation of Agri-Entrepreneurs. . . . . . . . . . . . . . . . . . . . . . . 27 Capitalizing on Opportunity: A VC Fund in the Making . . . . . . . . . . . . . . . . . . . . . . 28 Connected. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Updated and Interactive. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Noticed. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 Awards and Recognition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 Media. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 Presentations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Events. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Mark Your Calendars: World Congress. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Our Team of Experts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 Connect with Innovation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
message from the chair: agri-food safety and security In the race to produce new products, develop new processing technologies and add more nutritional value to the food we eat, agri-food entrepreneurs shouldn’t lose sight of safety. It’s the foundation on which other achievements are built. But for consumers to have confidence in what they eat, we not only need to deliver safe food, we also need to prove that it’s safe. How do we go about that? First of all, we need systems for verifying that all the inputs and ingredients we use are free from contamination, whether it’s bacterial, chemical or physical. Next, we need stringent processes to prevent contamination at every stage in the journey from field to fork. Finally, we need tracking systems, so if anything should go wrong, the problem can be traced back to its source as quickly as possible. Is this easy? No. But in a world where success depends on adding value, safety is perhaps the most important value we can add. Not only does it increase the confidence of consumers here at home, it gives us a competitive edge in the crowded global marketplace. If Canada is going to play a significant role in the world’s food supply, we need this kind of differentiation. For creative entrepreneurs, the opportunity is clear.
Larry Milligan Chair, Bioenterprise Corporation
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board of directors
Dr. Moni Eino
Mr. Peter L. Ferraro
Mr. Ken Knox
Mr. Warren Libby
Dr. Larry Milligan (Chair)
Mr. Dave Smardon
Dr. David Sparling
Dr. Gord Surgeoner
Mr. Michael Toombs Ontario Ministry of Agriculture, Food and Rural Affairs
Ms. Barbara Maly City of Guelph
Dr. Murray McLaughlin
observers
Mr. Ezio Di Emanuele Agriculture and Agri-Food Canada
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the growth of innovation At Bioenterprise, we’re in the business of driving innovation. And by any measure, we’re succeeding. In 2010, we expanded our network of partnerships to virtually every province across the country. By working with provincial governments and organizations, we’re achieving a national impact and closing in on our goal of giving every bio-entrepreneur in Canada access to the same top-notch commercialization services, whether they live in Fort St. John, BC or downtown Toronto. We’re also pursuing collaborations throughout the world, including in the United Kingdom, Germany, Australia, Israel, Chile and the United States. Our intent is to establish research partnerships, business-to-business relationships and mutual licensing arrangements to expand global agri-tech opportunities. Finally, there’s the core of our business: assisting entrepreneurs. In the past year, we’ve seen more demand than ever from companies with innovative ideas to bring to market. And while our mission is to help them, they in turn inspire us with their new ways of thinking. Look at New Energy Farms, for example. (For an in-depth profile, see page 8.) In addition to producing greenhouse tomatoes, the Tiessens are now producing energy on a global scale. In doing so, they have expanded the traditional definition of farming and taken entrepreneurship to a whole new level. At Bioenterprise, we’re thinking equally big. Over the past year, we’ve laid the groundwork for an ambitious new project: Bioenterprise Capital. This venture capital fund will specialize in agri-technology, leading North America in this space and stimulating much-needed investment in the sector. While we’re still 18–24 months away from meeting our objectives, the tremendous support we’ve received from stakeholders confirms we’re on the right track. Like New Energy Farms, we see an opportunity, and a need, to break new ground. Stay tuned! Yours in innovation,
Dave Smardon President and CEO, Bioenterprise Corporation
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NUMBER of companies worked with BY sector
Trends in BIOENTERPRISE Service USAGE
Agri-based Life Sciences Agricultural Management Tools General Advice
Agricultural Waste Management Animal Sciences Bioproducts / Biorefining Crop Science
Intellectual Property Guidance
Equipment Development Food, Functional Food & Nutraceuticals Food Processing Water Management 0
10
20
30
40
50
60
DISTRIBUTION OF COMPANIES WORKED WITH BY STAGE
Business Plan Critique/ Assistance
Money Raising Efforts and Investment Preparation Startup SME Seed Growth
In-depth Mentoring
Mature
Financial Strategy Development
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dean tiessen 7
spotlight: new energy farms Drive past New Energy Farms and you’d be forgiven for doing a double take. After all, a field of 13-foot-high miscanthus isn’t a common sight in Leamington, Ontario. At least, not yet. While the field is the most obvious evidence of the innovation taking place at New Energy Farms, it’s only one small portion of a transformation that has seen the Tiessen family business expand from a 37-acre greenhouse operation into a leading crop developer for the global biomass market — all in the space of five years. When Dean Tiessen first began experimenting with miscanthus, a perennial purposegrown energy crop related to sugar cane, his goal was simply to find a lower-cost fuel for his greenhouse boilers. But with oil prices hitting $140 a barrel and European policies favouring biomass energy, he realized the opportunities were far, far broader. The Tiessens’ response was to establish the New Energy Farms Group. The company develops North American miscanthus cultivars, propagation techniques and equipment; recruits growers; and secures markets for energy crops. Since it’s not cost-effective to ship bulky energy crops long distances, Tiessen set up a system of affiliates that he supplies with plants, machinery and training. They, in turn, grow miscanthus for their local markets. Today, New Energy Farms is the largest supplier of miscanthus plants on the continent, while the company’s energy contracts and network of affiliates span North America and Europe. Meanwhile, multinationals like British Petroleum, Shell, Honda and Ford are recognizing the potential of purpose-grown energy crops, adding to the credibility of the emerging industry. What lies behind the success of New Energy Farms? One key is the ability to look beyond your own narrow industry to see the bigger picture. For Tiessen, the “aha!” moment came from attending a biotech conference that opened his eyes to the global markets for green energy. Solid research also played a critical role, as did thinking like a customer. To give his affiliates security, Tiessen offers 20-year contracts. Meanwhile, to meet the needs of energy users, he has sourced wood waste and agricultural residues to provide a steady supply of biomass while purpose-grown crop production ramps up. Finally, there’s the attitude. Others might shy away from the thought of staking so much on an industry still in its infancy, but not Tiessen. “I have never in my life had so much fun,” he laughs as he reflects on the past five years.
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it all starts with science The best innovations are underpinned by good science. That’s why Bioenterprise has assembled a team of top-ranked scientists in academia and industry to assess the commercial potential of the projects that cross our desks and keep us up to date on the latest trends and developments in more than a dozen agritechnology sectors. You’ll see some of their insights on the pages that follow. As more and more entrepreneurs turn to us for help, engaging our advisors will become crucial to the success of our team. It is our pleasure to introduce you to some of the great people we work with in the following pages. We look forward to working with them more closely than ever in the coming year!
Science and Innovation Advisory Committee Members Dr. Richard Ablett Dr. Pete Desai Dr. Mike Dixon Mr. Colin Farnum Dr. Yousef Haj-Ahmad Dr. Don Hewson Dr. Peter J. Jones Dr. John Kadla Dr. John Kelly 9
Mr. John McIver Dr. Janice Paslawski Mr. Murray Porteous Dr. Mohini Sain Dr. Nancy Tout Dr. Wankei Wan Dr. Rickey Yada Dr. Chris Yost
sector snapshots
ag management tools It may not have the appeal of a shiny new combine, but tracking software is becoming a must-have management tool for farmers, says grower Murray Porteous. “For any product that you’re growing and taking through to market, there’s going to be an increased need for traceability,” he explains. While greater food safety is the main driver, the right tool can also help producers track costs closely. Then there’s the ability to prove you’re delivering what you’ve promised. Were your chickens fed omega-3rich flaxseeds? Does your farm plan protect the environment? In an era when customers are scrutinizing the process as well as the product, Porteous explains, tracking programs generate the paper trail to back up those claims.
focus on Success Canadian farmers spend thousands of dollars on pesticides every year. Now, a new online database lets them slash that cost significantly. By providing information on over three million treatments for more than 1,000 pests in 750-plus crops, including details on lower-cost generics, Savvy Farmer lets farmers pinpoint the right treatment at the lowest price. The two-man company turned to Bioenterprise for a thoughtful, unbiased critique of the concept. “It’s easy to fall in love with your own project,” laughs Savvy Farmer co-founder Warren Libby. The business accelerator also provided advice on everything from pricing to marketing. The result? “We’ve had a 100 percent positive response,” says Libby, who launched the database at the GrowCanada Conference in November 2010 to great acclaim.
Companies to watch Protoprise Weather INnovations Inc. (WIN)
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Tree fruit and asparagus producer Murray Porteous has served on a variety of industry bodies, including the Ontario Research and Innovation Council, the Canadian Horticultural Council and the Agricultural Adaptation Council.
WARREN LIBBY, SAVVY FARMER 12
ag health & ag pharma If the last century was dominated by physics and chemistry, says Dr. Yousef Haj-Ahmad, the 21st century clearly belongs to biotechnology. From crops genetically modified for greater pest resistance to plant cells engineered to produce valuable pharmaceuticals, the biotech sector promises to have an enormous impact on life in the new millennium. As biotechnology matures, its value to the agricultural industry is becoming ever more apparent, while the rate of discoveries is accelerating dramatically. However, in a discipline where the lifecycle of living organisms determines the pace of results, patience is a prerequisite. “A lot of people think that biotechnology equals get rich quick,” says Haj-Ahmad. “That is absolutely not the case. It takes time. But while it may be slow, it is also very powerful.”
focus on Success There’s no shortage of exciting biotechnology in Canada to commercialize, tells Bioenterprise mentor Steve Barrett, who is currently assisting a highly promising start-up to do just that. The challenge is finding the capital to make it happen. “We’re in the early days of teaching investors about biotechnology and getting their comfort level up so they can understand the opportunity,” he explains. Biotech requires substantial capital to fund a laboratory during the process of proving a particular technology. But for investors willing to take a long-term view, the potential markets are massive. Barrett sees Bioenterprise’s role as assisting entrepreneurs in the search for vital early-stage investment. “Raising capital is a fairly complex and specialized skill,” he says. “That’s where Bioenterprise steps in to help.”
Companies to watch Certo Labs Inc. PlantForm Corporation
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Dr. Yousef Haj-Ahmad has one foot in industry and the other in academia, serving both as a professor of molecular biology at Brock University and as the president and CEO of Norgen Biotek.
steve barrett, bioenterprise mentor 14
agri-forestry When Dr. Mohini Sain looks at Canada’s forests, he sees polymers, additives, solvents, paints, varnishes and chemicals — high-value products that we can now extract from wood. Take lignin, for example. Recently, researchers succeeded in turning this pulp mill byproduct into carbon fibres for industrial composites. “There’s a tremendous boost in new products and new process technology development,” says Sain. Indeed, Canada is a leader when it comes to research in this sector. What’s missing right now is the venture capital to convert Canada’s lab bench breakthroughs into enterprises that create jobs and profits. “At this stage there are not enough risk takers out there who want to invest,” Sain says.
focus on Success Mighty oaks don’t grow overnight, but Earthgen International has found a way to speed up the process dramatically—and produce hardier trees—using careful timing and a proprietary air pruning technique. Destined for conservation areas and highway plantings, the company’s container-grown native trees are making Ontario greener, faster. Meanwhile, when Earthgen applies the same growing techniques to nut trees, they can cut nut production time in half. Despite a few initial management hiccups, Earthgen now has 100,000 trees in production, boast-worthy survival rates and praise from retail and institutional customers alike. “If I was to do it again?” asks company president Adam Koziol, “I would have been involved with somebody like Bioenterprise [earlier in the process].”
Companies to watch Bioforest Technologies Inc. Northern Traditionals RPM Ecosystems Canada
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Award-winning forestry professor Dr. Mohini Sain heads up the University of Toronto’s Centre for Biocomposites and Biomaterials Processing, where he specializes in advanced natural fibre, wood composites and biocomposites.
ADAM KOZIOL, Earthgen International 16
bio-energy Sometimes you don’t need a crystal ball to predict the future. “Cheap energy changed the world enormously,” says Don Hewson. “As energy gets less affordable, it’s going to change the world again.” The Managing Director for The University of Western Ontario Research Park sees energy from bio-based materials—wood materials, purpose-grown crops and food crop residuals—poised to play a significant role as petroleum prices rise. He points to interest from big players like Ontario Power Generation and to technologies like pyrolysis that can transform agricultural crops into bio-based crude oil. And with a plentiful endowment of forestry and agriculture to feed the industry, along with impressive wind, sun and hydro resources, Canada has the potential to become the 21st century’s sustainable energy superpower.
focus on Success For Canadian Biofuel president Ian Moncrieff, developing a business plan was a matter of putting two and two together. On the one hand, you’ve got farmers looking for alternatives to a shrinking tobacco market. On the other, you’ve got markets hungry for cheaper, greener fuels. A little research revealed that purpose-grown crops such as miscanthus, switchgrass and hybrid willow thrive in the marginal soil of Ontario’s tobacco belt — and can be converted to fuel-dense briquettes and pellets to feed stoves, boilers or even provincial generating stations. Canadian Biofuel was born. Moncrieff praises the help he received from Bioenterprise in launching the start up. “They bent over backwards for us,” he says. “They’ve promoted us, they’ve recommended that we go to various conferences and workshops and introduced us to various people who have been supportive. I would highly recommend them.”
Companies to watch Alternative Fuels Corporation Energrow SITTM Technologies Woolwich Bio-En
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Converted Carbon of Canada Corporation PlanET Biogas Solutions Titan Clean Energy Projects Corporation
Dr. Don Hewson, Managing Director, Industrial Liaison, for The University of Western Ontario Research Park.
Canadian Biofuel 18
bioproducts Say goodbye to petroleum-based plastics, man-made fibres and even fossil fuels. The field of bioproducts is exploding with more sustainable alternatives, from plastics created from cornstarch to algae-based biodiesel to auto parts that incorporate plant fibres such as hemp. Cellulose polymers alone constitute a multibillion-dollar industry, points out Dr. Wankei Wan, who is using bacteria to synthesize this versatile raw material. With our strong agriculture and forestry sectors, as well as a significant investment in R&D, Canada is well positioned to capitalize on the growing interest in bioproducts. “We are really blessed as a country to have so many resources,” Wan says. “It’s up to us to see how best we can make use of them and compete effectively relative to the rest of the world.”
focus on Success If Geof Kime realizes his vision, agricultural materials will soon replace energy-intensive glass and petroleum-based synthetics currently used to create composites. Since his company began extracting and refining hemp and flax fibres more than a decade ago, Kime has encountered plenty of skeptics. Today, however, manufacturers of everything from sporting goods to auto parts are lining up at Stemergy’s door. Bio-fibres offer strength, versatility and minimal weight, as well as an attractive price point compared to traditional feedstocks. “This is an opportunity whose time has come,” Kime says. Today Stemergy’s biggest challenge is scaling up production to meet market demand. Kime turned to Bioenterprise to help him secure financing for that expansion, tapping into their extensive connections in government and industry. “They’ve helped us get the word out about who we are,” he says.
Companies to watch Guelph Agricultural Fibre/Plastic Composites Inc. Phil-Insul Corporation PolyFerm Canada Inc. Surface Green Solutions Terra Verde BioEnergy Solutions, LLC Wellington Polymer Technology Inc. Woodbridge Foam Corporation
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Dr. Wankei Wan is a professor in The University of Western Ontario’s Department of Chemical and Biochemical Engineering, where he specializes in the synthesis, modification and characterization of biomaterials.
stemergy 20
food, functional food & nutraceuticals For Dr. Rickey Yada, using food as preventive medicine is a no-brainer, economically speaking. “How much do we invest in cancer treatment, cardiovascular treatment, diabetes treatment, obesity treatment?” he asks. He describes the emergence of functional foods and nutraceuticals as an exciting area of growth, offering time-crunched Canadians a convenient way to get the nutrition they need. For would-be entrepreneurs and investors, commercializing these health-boosting products can involve a lengthy approvals process, as well as the scientific challenge of correlating long-term health benefits with specific diet choices. Ultimately, however, the reward could be a healthier society. “It has some real challenges but some potentially wonderful benefits,” says Yada.
focus on Success Monforte Dairy founder Ruth Klahsen doesn’t back down from a challenge. When the Stratford-trained chef was wowed by the cheeses she sampled in Europe, she set out to achieve the same quality here at home. It took time, but today her artisanal cheeses earn raves from customers. Similarly, when she couldn’t find conventional financing to build new premises for Monforte, she didn’t give up. Instead, she sold subscriptions starting at $200 a piece, to be repaid in cheese. Nearly a thousand supporters bought into the idea, raising $420,000 for the new facility that started production last June. To secure the balance of the funding she needed, she turned to Bioenterprise for help. “They’re the best deal going,” Klahsen says. “They offer great support.” Her next challenge? “We’d love to set up a cheese-making school here,” she muses.
Companies to watch 100 Mile Market Inc. Inovita Inc. Tabletree Enterprises Ltd.
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All Natural Nutraceutical Products Naturally Norfolk Inc.
Dr. Rickey Yada, professor of food science, University of Guelph; Canada Research Chair in Food Protein Structure; and Scientific Director of the Advanced Foods and Materials Network.
monforte dairy 22
food processing The biggest trend in the food processing industry? Nutrition, according to Maple Leaf’s Colin Farnum. Today’s consumers read labels, count calories and look for natural ingredients—“ingredients, quite frankly, that they can pronounce,” says Farnum. From lower-salt potato chips to preservative-free deli meats, it’s a trend reflected in every food category. Meanwhile, eco-friendly packaging is also a hot item, thanks to more sustainable plastic and paper products that still protect food effectively. But in their quest to develop healthy, greener options, processors shouldn’t lose sight of two other essentials, Farnum cautions. “Whatever we do in terms of bringing in sustainability and nutrition, consumers are not prepared to give up on taste and convenience,” he says.
focus on Success When it comes to healthy eating, SmartGrain flax seeds pack a onetwo punch. Using a patented process, Everspring Farms has refined a germination process to enrich grains and seeds with Omega-3 fatty acids DHA and EPA. Called ingraining, it incorporates the heart-smart molecules directly into the cellular matrix of the seeds. Meanwhile, the germination process itself makes the flax nutrients more bio-available. “People are thinking a lot more about the food they eat than they perhaps were 10 or 15 years ago,” says Everspring Farms president Dale Donaldson. “We think there is a business opportunity to provide functional food products that have health and medical benefits.” Donaldson praises the help he received from Bioenterprise in assisting with licensing the patented technology and providing input on different business models. “They’re a good sounding board,” he says. “It helps to get input from professionals that have been down this road before.”
Companies to watch EnWave Corporation Nutri-Loc Ingredients Corporation
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Nudefruit PB&C Agri-Tech Solutions Inc.
Colin Farnum is the senior director of innovation and new technology for Maple Leaf Consumer Foods, where he identifies, evaluates and implements new process and ingredient technologies.
smartgrain 24
water management Dr. Mike Dixon doesn’t mince his words when he describes the importance of managing not just the quantity of our water resources, but their quality as well. “You can have as much fresh water as you like,” says the University of Guelph researcher. “If it’s going to kill you, it’s not much use to you.” In Ontario, he says, the Walkerton contaminated drinking water disaster spurred a wave of innovation in water and wastewater treatment technologies. The other big driver in this field, and the one that lies at the heart of Dixon’s own research, is the space program. “I absolutely must recycle every drop of water that I take with me into space,” he explains, “so its quality is absolutely critical to the survival of the crew.” Until now, the challenge has been developing sensor technology that can evaluate water quality on the spot, but Dixon believes they’ve just about got that beat. Meanwhile, here on Earth, there’s no shortage of applications for the space-based breakthroughs, from greenhouse systems to industrial wastewater treatment. “The technology developments are driven entirely by terrestrial spinoffs,” Dixon says.
Companies to watch Geosyntec Consultants International O3zotech Inc. RPTI World Industrial Membrane Corporation Ltd. (WIMCO)
Incubate Canada Petro Sep Membrane Technologies Inc. Real Tech Inc.
new sub-sectors Bioenterprise is pleased to announce we now have the capacity to work in three additional agri-tech sub-sectors. If you’re developing projects in one of these areas, or any of our profiled agri-technology sub-sectors, we invite you to contact us to discuss how we can help.
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Aquaculture
2
Fertiilizers, herbicides and pesticides
3
Ag Waste Management
Dr. Mike Dixon is a professor of environmental biology at the University of Guelph, where he heads up the Controlled Environment Systems Research Facility. Off campus, he chairs the Canadian Space Agency’s Space Exploration Advisory Committee.
Harold Krause, O3ZOTECH 26
our services For both investors (angel, VC, etc.) and entrepreneurs, Bioenterprise offers a comprehensive slate of services: Investors benefit from: • Carefully screened investment opportunities that meet their specific profile • Due diligence and technical assessment • Investment syndication • Learning and networking opportunities, including networking dinners, forums, and state-of-the-sector symposiums and the Bioenterprise Global Network Meanwhile, our entrepreneur services include: • Business plan assistance • Entrepreneurial reality check • Financial strategy development • Funding application guidance • Investment preparation • Marketing strategy development • Management team establishment • Mentoring and coaching • Ongoing advice and counsel • Learning and networking opportunities, etc. Growing a New Generation of Agri-Entrepreneurs In addition to working with clients and investors, Bioenterprise fosters entrepreneurship through a variety of courses and programs, including: • Mentor Match • Student Entrepreneurial Experience • Enterprising Student Placement • Agri-Business Immersion Study • Aspiring Entrepreneur Course
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capitalizing on opportunity: a vc fund in the making According to the Canadian Venture Capital Association, last year’s VC market hit its lowest level since the mid-90s. Of those diminished dollars, only a fraction find their way into the agri-tech sector. As a result, our entrepreneurs are starved for investment capital.
At Bioenterprise, we believe there’s strength in connections as well as formal partnerships with industry organizations.
But at Bioenterprise, we believe need and opportunity are two sides of the same coin. When we look at the current agri-tech landscape, we see potential waiting to be realized. As a global leader in agri-tech R&D, Canada generates hundreds of innovative technologies and products each year that are ripe for commercialization. We also see unlimited markets for agri-tech developments. In a world where oil supplies are shrinking, demand for food and materials is increasing thanks to an expanding global population, and the need to curb greenhouse gases is more urgent than ever, this is a sector that can supply solutions. At the 2010 AgInvesting Conference, HighQuest management consultant Hunt Stookey predicted that agri-technology will have an unprecedented impact on global, social and economic conditions in the years to come. That is why we are creating Bioenterprise Capital Ventures Inc.. This new VC fund will be dedicated to the agri-tech space, filling the current financing void and riding a wave of world-changing innovation. Through strategic investments, we can build the bio-economy of the future.
bioenterprisecapital.com 1.877.979.1010
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connected At Bioenterprise, we believe there’s strength in connections. In addition to formal partnerships with more than a dozen industry organizations, business accelerators and research groups, we’ve developed a host of informal links that stretch around the world. Together, we’re exchanging ideas, creating collaborations and expanding the success of agri-technology. Because in business, it’s who you know that counts.
england GERMANY israel
Japan
france
uSA
chile AUSTRALIA
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updated and interactive If you’ve stopped by bioenterprise.ca recently, you’ll have noticed a few changes. In addition to creating a fresh, updated look, we’ve streamlined our site to make navigation easier than ever. Best of all, we’ve gone interactive. Be sure to check out our blog and networking features, where you can keep up to date on the latest developments, find out about industry events and connect with other investors and entrepreneurs. Make us part of your social network.
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noticed With so much happening at Bioenterprise over the past year, it’s no surprise that we made headlines, won awards and impressed audiences. Here’s just a sampling.
media “A World of Potential: Agri-Technology Commercialization Centre” Ontario Ministry of Agriculture, Food and Rural Affairs Website 2010 “New Agri-Technology Commercialization Centre in Guelph” Food and Farming Canada Blog 19 May 2010 “Business gala shines spotlight on city’s bright lights” Guelph Mercury 24 June 2010
Awards and Recognition President’s Business Recognition Award for Business Innovation Guelph Chamber of Commerce 2010 Co-op Employer of the Year University of Guelph 2010 “A+” Rating Better Business Bureau Reliability Report 2010
“Awards night on TV” Guelph Tribune 1 July 2010 “Vertical Farming, Biopesticides & Drought-Resistant Seeds Take Center Stage at the Agriculture 2.0 Global Investments Conference” Market Watch 15 September 2010 “Canadian Agriculture 2.0 Companies Announced” BioMed Reports 30 September 2010 “Crops, Cars, Cash” Renewable Energy & Cleantech Canada Industry Guide 2010 “Agri-Technology Commercialization Centre Delivers Expertise and Connections to Growing Ag-based Businesses” Growing Forward Fall 2010 “2010 Co-op Award Winners” University of Guelph Website 5 January 2011 “Bioenterprise: Helping Businesses Succeed” Research & Innovation @ OMAFRA. Volume 1, Issue 2 January 2011
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Events
Presentations
Agri-Investment Symposium Agricultural Biotechnology International Conference Agriculture 2.0 Annual TBI Golf Classic Banff Venture Forum BCIC’s Innovation Summit 2010 BioFinance Canadian Innovation Exchange CRFA Show CleanTech Conference CVCA Annual Conference Development of the Castor Sector in Ontario CVCA Golf Classic Global Ag-Investing 2010 Conference Golden Triangle Angel Network Monthly Meeting Grocery Innovations Canada Growing the Margins Conference Guelph Organic Conference Guelph Technology Economy Conference International Conference on Biocomposites International Lignin Biochemicals Conference Moving Genomics for Specialty Agriculture OCE Discovery Quebec City Conference Southwest Agricultural Conference U.S. – Canada Clean Energy Dialogue World Congress on Industrial Biotechnology and Bioprocessing
AFMNet Annual Meeting Agri-Investment Symposium Agriculture 2.0 Alberta AVAC and Alberta Enterprise Alberta Premier’s Office Atlantic Provinces Agri-Food Community Banff Venture Forum BC Agri-Food Community BCIC Innovation Summit Chile Innovation Tour Egyptian Delegation EuroBio Green Opportunities Growing the Margins Conference Guelph Awards of Excellence Innovation Summit Manitoba Government Manitoba Innovation Council MCS 4100 Entrepreneurship, University of Guelph Municipal Agricultural Economic Development Forum Ontario Cereal Industry Research Council Ontario Federation of Agriculture VanTech Angels
Mark Your Calendars: World Congress Bioenterprise, Soy 20/20 and Ontario Agri-Food Technologies have teamed up to bring the eighth annual World Congress on Industrial Biotechnology and Bioprocessing to Canada! Be sure to join more than twelve hundred high-profile scientists, executives, policy makers and investors in Toronto May 8–11, 2011 for exhibits, plenary and breakout sessions, poster presentations, plenty of networking opportunities and the new, international investor session. We hope you’ll stop by the Agri-Technology Commercialization Centre booth to meet us! For details, visit: bio.org/worldcongress/ 32
our team of experts
Dave Smardon President and CEO
Laura Millson Entrepreneur Services and Operations Co-ordinator
John Pickard Entrepreneur in Residence
Crystal Sarantoulias Senior Market Research Analyst
Tiffany King Executive Administrator
Ashley Ferraro Marketing and Communications Director
Italo Cerra VP Finance
Doug Knox VP Technology
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connect with innovation
Isn’t it time you connected with Bioenterprise? To request an introductory meeting, information package or display materials, please contact: Bioenterprise Corporation 200-120 Research Lane Guelph ON N1G 0B4 519.821.2960 1.866.464.4524 toll free 519.821.7361 fax info@bioenterprise.ca
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