Grants and Contributions:

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Title:

Modernizing Payments for Rural Canadian Entrepreneurs

Agreement Number:

1023923

Agreement Value:

$20,000.00

Agreement Date:

Nov 1, 2024 - Jan 31, 2025

Description:

The Modernizing Payments for Rural Canadian Entrepreneurs project aims to significantly enhance the Direct Yield Market (DYM) platform, which connects rural entrepreneurs and brokers with agricultural manufacturers. DYM provides direct access to crop protection products at competitive prices, bypassing traditional, costly intermediaries. In addition, developing an innovative business model, "brokers-as-merchants", allowing rural farmers to resell to their local community within regulations. In addition, However, a critical gap in the current system is the lack of efficient, affordable payment processing for infrequent but high-value transactions, which are common in this sector. Through this project, we will integrate a scalable and automated payment system that enables seamless ACH transactions for all users, including brokers, vendors, and local retailers.

Organization:

National Research Council Canada

Expected Results:

The purpose of IRAP Contributions to Firms is to support research, development, adoption and/or adaptation of innovative or technology-driven new or improved products, services or processes in Canada up to their commercialization

Location:

Calgary, Alberta, CA T2W 4B6

Reference Number:

172-2024-2025-Q3-1023923

Agreement Type:

Contribution

Report Type:

Grants and Contributions

Recipient Business Number:

750292757

Recipient Type:

For-profit organization

Recipient's Operating Name:

Direct Yield Market

Recipient's Legal Name:

16274382 Canada Ltd.

Federal Riding Name:

Calgary Heritage

Federal Riding Number:

48007

Program:

Industrial Research Assistance Program – Contributions to Firms

Program Purpose:

Coverage:

IRAP Contributions to Firms projects stimulate wealth creation for Canada through technological innovation.

NAICS Code:

511211