News Summary

CTK Bio, a startup based in Surrey, British Columbia, is on a mission to replace conventional plastics with sustainable alternatives. By utilizing hemp by-products and other waste materials, the company creates biodegradable products such as camping cutlery and golf tees. The startup faces the challenge of matching the cost of traditional plastics, which requires continuous research and development. CTK Bio benefits from Canada’s SR&ED program and the QuickFund program offered by Boast, enabling them to access R&D tax credits and early cash flow to fund their projects. Despite slow adoption in Canada due to current legislation, CTK Bio continues to innovate, recently expanding into the U.S. market and developing compostable films.