Blendtek Awarded Funding Grant from Bioenterprise Corporation to Fuel Company Growth and Innovation
Cambridge-based Blendtek selected along with nine other southwestern Ontario businesses for innovative grant program aimed at supporting early-stage, high potential Ontario businesses
Blendtek Fine Ingredients Inc., a premier innovative food ingredients and solutions company based in Cambridge, Ontario, has been named a recipient of the esteemed Bioenterprise Seed Fund which is run by Bioenterprise Corporation and funded by the federal government.
Established in 2015, Blendtek operates in Cambridge, Ontario and is led by two Cambridge-based entrepreneurs, Steve Zinger and Rob Bianchin. Since 2015, Blendtek has experienced 85 per cent revenue growth and a 77 per cent increase in staff.
“As a growing Canadian business with the mission to challenge expectations and help fuel food innovation globally, Blendtek is thrilled to be selected for the Bioenterprise Seed Fund,” said Steve Zinger, President, Blendtek. “The funding will help us to accelerate our growth by expanding our team and investing more heavily into our food safety and traceability programs.”
“There is a real demand and opportunity for new technologies, food systems and ingredients in our industry,” said Rob Bianchin, Vice President, Blendtek. “With changing consumer food preferences and heightened demand for socially conscious, sustainable options, it’s an important time to be at the forefront of food innovation. We’re excited to be a part of helping propel the market into a new era of functional foods by being a trusted source for food innovators across North America.”
In total, ten southwestern Ontario businesses were selected and will benefit from a total of $300,000 in development seed funding grants from Bioenterprise Corporation and its delivery partner, Innovation Guelph. The grants support innovative early-stage Ontario businesses in the agriculture and agri-food, sustainable and environmental technology, advanced manufacturing, and social innovation sectors with up to $30,000 in matching non-repayable seed financing, accompanied by coaching and mentorship.