GFTC Legacy Fund – $1.5 Million Funding Initiative For Canadian Food Producers and Processors
GFTC Legacy Fund – May 1st
For Canadian Food Producers and Processors:
The GFTC Legacy Fund (“GLF”) was established in 2013 after the merger of Guelph Food Technology Centre (“GFTC”) with NSF International. Guelph Food Technology Centre (“GFTC”), was established in 1994 as an independent, not-for-profit corporation with a vision to contribute to the growing competitiveness of the Canadian Food Industry. In 2013, GFTC merged with NSF International to become one of the largest food safety certifiers in the world. Today, the combined NSF/GFTC is a global, independent, not-for-profit organization committed to protecting and improving human health and the environment on a global scale, providing services in standards development, product certification, auditing, education, and risk management. One of NSF/GFTC’s primary areas of focus remains the Food Industry.
Like GFTC, the GLF’s mission is to help Canadian food processors and manufacturers to be competitive and highly successful in their markets through the use of technical expertise, technology and innovative solutions that improve their people, processes and products. To help carryout this mission, GLF is committing more than $6 million to be invested in various academic scholarships and Food Industry initiatives over the next 5 years.
GLF has set aside up to $1.5 million to be invested over the next year in initiatives aimed at enhancing productivity, innovation, commercialization and sustainability for Food Processors in Canada. GLF intends to make this $1.5 million capital accessible to fund initiatives that can demonstrate material benefits to a meaningful number of food producers in the Canadian Food Industry. While this investment initiative is intended to promote activities that may benefit Canadian food producers of any size, GLF recognizes that specific productivity and innovation advancements that help small and medium enterprises (“SME”) in-turn can help the entire Canadian Food Industry to expand and be more competitive on an international basis. The targeted individual investment size ranges from $25,000 – $300,000. GLF is inviting interested parties to submit proposals for consideration. Funds may be allocated as grants, loans or equity investments depending on the circumstance, merits and level of risk to be taken-on.
GLF welcomes proposals from business consortiums, industry associations, research groups, education institutions, companies and individuals; however, GLF is not obligated to solicit submissions or include any submissions from any specific party in its final evaluation. Given that proposals will be considered over the coming weeks/months on a rolling basis and there are finite dollars to allocate, time is of the essence for those parties that are considering submitting proposals.
Specific details required for investment proposals include the following:
1. Submit a 1-2 page (maximum) written proposal to GLF, outlining the request and how it fits within the preferred investment criteria outlined herein. Upon review, GLF may request a more comprehensive submission if an opportunity is to be considered in more detail.
2. Identify the proposal sponsor and beneficiaries;
3. State the dollar value of the request, use of proceeds, proposed structure and timing of any financial support;
4. Outline the financial contribution that the proposal sponsors and/or beneficiaries will make towards the proposed initiative (cash and/or ‘in-kind’ investment); and,
5. Indicate the anticipated outcomes, benefits and timelines.
Preference will be given to those investment proposals that include the following:
1. Initiatives that would result in material benefits (productivity, innovation, commercialization or sustainability) to a meaningful number of Canadian food producers or processors and details on how food producers or processors could access those benefits;
2. Proposals that demonstrate a meaningful financial contribution on the part of the sponsors and/or beneficiaries – significant ‘skin-in-the-game’;
3. While this investment initiative is not intended to promote activities that will exclusively benefit small and medium enterprises (“SME”), some emphasis will be given to those proposals that demonstrate how a proposed investment will help SME’s be more productive and innovative to enhance competitiveness;
4. High level of transparency and accountability around the use of proceeds, results of any investments and availability of benefits to the end users (i.e., adequate reporting, suitable performance metrics to measure progress and effectiveness, appropriate supervision, etc.); and,
5. Canadian-based involvement, content, employment, ownership, etc.
Proposals should be submitted in writing to John Hamilton, President, GFTC Legacy Fund.
c/o john.hamilton@strategex-cm.com
905-334-0708
