Planning for the Future, Scaling for Growth

In April, through Budget 2022, we received the good news that Protein Industries Canada, as part of the Global Innovation Cluster program, received funding through to March 2028. This six-year runway allows us to plan with confidence and be bold in our actions to build Canada as the global leader in plant-based food and ingredients. We appreciate the support of Minister of Innovation, Science and Industry François Philippe-Champagne and the Government of Canada, and we are looking forward to being able to continue our work.

Over the past three years, Protein Industries Canada has a built a portfolio of projects worth more than $485 million. These projects range from fundamental to transformational. Cumulatively, they are building out Canada’s plant-based value chain, creating jobs for Canadians, while contributing to our economic growth, and supporting a healthy Canada. Through this first tranche of projects, we will surpass the original goals set out for the Cluster program, contributing $10 billion to Canada’s GDP and creating 5,000 jobs.

We have also fully invested our first round of funding of $173 million from the federal government. This significant milestone deserves to be celebrated. It is because of the strength of the ecosystem and the commitment of trailblazing companies from coast-to-coast that we were able to co-invest all our dollars in three years. While we may not be making any new investments in the short-term, we are eagerly getting ready for the future.

We will soon be engaging with industry to help us inform our next five-year strategy. We have seen tremendous growth in the ecosystem since 2018, and we want to make sure that the work of Protein Industries Canada remains relevant and anchored in the needs of the sector. We will also be starting conversations with potential consortiums about what projects may come forward starting in April 2023. By planning now, we can ensure that projects can take full advantage of the five-year runway – allowing for more ambitious and transformational projects that are not limited by time constraints. If you have an idea for a project or are aware of a challenge or opportunity that would support the continued growth of Canada’s plant-based industry, I encourage you to reach out.

We have come a long way in a short three and a half years, and while I am proud of all that we have accomplished, I am even more excited for the future. Thank you to everyone who has put their trust in Protein Industries Canada. Each of you has contributed to our success and will continue to do so as we continue to work together to reach the goals of The Road to $25 Billion.