Innovation Saskatchewan and the Ministry of Agriculture Award $3.2M to USask’s Global Institute for Food Security

The Saskatchewan government has announced their plans to provide $3.2 million dollars to the Global Institute for Food Security (GIFS) at the University of Saskatchewan. These funds will go directly towards a new engineering biology centre. The funding actually comes from both Innovation Saskatchewan and the Ministry of Agriculture. The funding will be spread over a series of years. 

The new centre will help attract investments and companies to the province’s agriculture and food sectors, reducing capital needed to set up and operate businesses looking to deliver R&D and production on a large-scale. Their vision is a world where everyone has access to safe and nutritious food. Their plan has two key focus areas:

• Collaboratively advancing food security through the discovery, development and delivery of innovative solutions: Working together with diverse stakeholders, GIFS will develop and deliver technologies and tools that enhance the food production system and that are environmentally, socially and economically sustainable.
• Expanding research capabilities and capacity: GIFS will grow and develop its research productivity and scope

Innovation Saskatchewan is providing $2 million in funding through its Innovation Science Fund. The Ministry of Agriculture’s $1.2 million in funding is provided under the Canadian Agricultural Partnership. The Canadian Agricultural Partnership is a five-year, $3 billion investment by Canada’s federal, provincial and territorial governments to strengthen and grow Canada’s agri-food and agri-products sectors. This commitment includes $2 billion for programs cost-shared by the federal (60%) and provincial/territorial (40%) governments that are designed and delivered by provinces and territories.  As a result of this government funding, GIFS will also receive additional matching funds through the Canada Foundation for Innovation – Innovation Fund.

Who We Are:

Swanson Reed is one of Canada’s largest Specialist SR&ED tax advisory firms. We manage all facets of the SR&ED tax credit program, from claim preparation and audit compliance to claim disputes.

If you would like to find out more about how your business could benefit from R&D Tax Credit, contact a Swanson Reed R&D Tax Advisor today.