AgriInnovate Program – Business Plan Outline
The Business Plan under the AgriInnovate Program should cover the following sections and content:
Business Plan Outline
- Provide a brief description and history of the applicant including:
- Primary lines of business and mandates
- Summary of growth of the business
- Total number of employees
- Listing and location of facilities
- Current organizational structure (including chart indicating names and titles of the management team)
- Organizational objectives
- Key alliances, stakeholders, suppliers, and customers
- Major accomplishments
- Corporate Structure:
- Provide a diagram of the corporate structure of the applicant including parent and subsidiary companies and their interrelationships. The diagram should be annotated to indicate respective mandates and ownership trail.
- List shareholders with more than a 10% share of the applicant and include their share ownership.
- Board of Directors/Advisory Board
- Provide a list and the qualifications of the members of the Board of Directors and Advisory Board if applicable.
- Company Status:
- Ensure a copy of the company’s Certificate or Articles of Incorporation and copies of any partnership or other agreements pertaining to/impacting the proposed project are provided in the application.
- If part of a consortium of companies, or an organization representing companies or an association of companies, provide a copy of the legal agreement between members.
- Provide a description of the company's overall business strategy.
- Identify the long-term plan for the business - where you want the business to be 5 in years from now (vision).
- Outline the steps that will be taken to get there.
- Describe how the proposed project will fit into and improve the applicant's business, help to address challenges being faced by the applicant and the sector, and improve competitiveness and environmental sustainability.
- Financial Status:
- Provide a brief summary of the company's financial situation and recent trends.
- Ensure copies of the company's annual financial statements (audited if available) for the past three years or since the date of business start-up, the latest interim (audited or unaudited) financial statements, and, if applicable, the most recent annual report or audited financial statements of the parent company or principal owner. For diversified organizations, the financial statements of the division or branch directing the project must also be included.
- Project Financing Plan:
- The proposal must demonstrate that the applicant possesses, or can reasonably be expected to secure, the financial resources needed to complete the project.
- List all anticipated sources of funds, including, but not limited to shareholder/corporate sources, external sources, internal cash flow, government sources of financial assistance received, or likely to be received, from federal, provincial and municipal governments, etc. This information should clearly distinguish between existing/negotiated sources of funding and planned or potential sources.
- Please attach a copy of any financing agreements in place.
- Identify special conditions attached to any of the above source(s) of funding.
- Financial Projections:
- Ensure copies of annual pro forma financial statements (Income Statement, Balance Sheet, and Cash Flow Statement) based on the applicant's fiscal year, including assumptions used to arrive at these projections (e.g., number of units to be sold, profit per unit, etc.), for the duration of the work proposed in the Project Work Plan plus the three following years of operation are included.
- These pro forma financial statements are to cover the overall company operations including the project which is to be identified separately.
- Provide figures of the incremental revenues and expenses resulting from the project for a period of 10 years.
- The statements should factor in any government tax incentive or credits and forecasted repayment of the proposed AIP contribution.
- Need for Contribution:
- Applicants must demonstrate that funding support for the project is necessary and justified.
- Describe the level of market and/or financial risk affecting the project and the impact on the planned scope and timing of the project in the absence of AIP support.
- If the project is in direct competition with other internal projects over scarce funds, applicants should clearly indicate both the nature of this competition and the budget constraints under which the applicant operates.
- Accounting Systems:
- Describe the accounting system to be used by the applicant and explain how the applicant will track project costs. Sufficient detail will be required to confirm that the applicant has sufficient capacity to accurately track and record costs associated with the performance of the proposed project.
- Transfer Pricing Policy:
- Identify whether the applicant will be purchasing or selling products, equipment or services as a result of the project to or from a related entity. If so, include the applicant's Transfer Pricing policy.
- Identify key financial project risks and the mitigation strategies.
- The industry within which the applicant operates.
- The market in which the applicant participates including key competitors and competing products/services.
- The applicant's products and services, how it plans to promote them, its key customers, and how it plans to maintain and/or increase its market share and/or penetrate new markets.
- The market opportunity the company plans to exploit for its new products or services.
- The market penetration strategy it will use to commercialize the new products or services.
- The regulatory issues if any, of introducing the new products in each of the target markets.
- If exports sales will account for a significant portion of total sales, the company's capabilities to conduct business in foreign markets.
- The applicant's production and distribution strategy, including manufacturing timing and location, if applicable.
- Describe the key market/commercial risks and mitigation strategies.
The Agricultural Innovation Program is designed to accelerate the pace of innovation, facilitate the commercialization and adoption of innovative products, technologies, processes and/or services to enhance economic growth, productivity and competitiveness of the Canadian agriculture, agri-food and agri-based products sector and help the sector capture opportunities for the sector in domestic and global markets.
- The innovative aspects of the technology, products, processes and/or services.
- The technology that will be adopted, including diagrams.
- The source of the technology and whether is has been proven at the bench, pilot and demonstration scales.
- Background and capabilities of the supplier of the technology.
- Intellectual Property of the technology and whether the company will have the freedom to operate with the technology.
- The technical expertise that will be required by the company for the adoption of the technology.
- Challenges, uncertainties and risks in the adoption of the technology.
- The mitigating measures that will be implemented during the adoption of the technology.
Proposals must show that the applicant possesses, or can reasonably be expected to secure, the necessary managerial, HR, technical and operational capabilities to achieve the stated objectives and benefits to Canada of the proposed project.
- Describe the management team, their areas of responsibility and experience.
- Provide information on professionals assisting the business.
- Project Team:
- Describe the project team, including available technical resources, responsible for undertaking the project, their areas of responsibility and experience.
- Sales and Marketing:
- Describe the team responsible for sales and marketing, their areas of responsibility and experience.
- Facilities and Operations:
- Describe the facility and its production capacity. If the project is expected to result in an increase in production capacity/scale up, describe how this will be achieved.
- Describe the key management, HR, technical and operational capacity risks and mitigation strategies.
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