Food Product Development Assistance
PE, Canada
Funding for professional help to create or improve a food product or process in PEI
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
Expert Advice
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Government of Prince Edward Island
- Innovation PEI
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get a contribution of up to $50,000 to cover up to 50% of the costs of professional and technical help when creating a new food product or process.
grant_single_labels|projects
Yes, there are specific projects and activities eligible for this grant.
- New product and prototype developments, technical feasibility determinations, or new process developments
- Test-market production, rental contract with processing facilities for test-market production runs
- Technical assessment of processing lines and packaging equipment
- Shelf-life determinations, food safety assessments, sensory analysis, supplier sourcing
- Technical workshops and technical training of plant personnel
grant_single|admissibleProjectsExample
$25,000
Vancouver
Creating a dairy-free cheese process and technical training
$25,000
Calgary
Technical assessment of packaging equipment for frozen meals
$30,000
Toronto
Developing a new gluten-free biscuit prototype with extended shelf-life
$27,500
Montreal
Test-market production of organic snack bars
$25,000
Ottawa
Developing a prototype for sugar-free candy
$27,500
Edmonton
Supplier sourcing and technical workshops for new vegan protein bars
grant_single_labels|admissibility
The eligibility criteria are designed for businesses located in Prince Edward Island. The business must be actively operating and registered in the region as a food development, manufacturing, or processing entity.
- Be located in Prince Edward Island
- Be registered to do business and actively operating in Prince Edward Island
- Be a food development, manufacturing, or processing business
- Must not have a defaulted outstanding debt obligation on file in the Province’s Central Default Registry
- Must not be in default on any reporting, project completion, or financial obligation to Innovation PEI
grant_eligibility_criteria|who_can_apply
Eligible types of companies for the Food Product Development Assistance grant include those located in Prince Edward Island that meet specific criteria. To qualify, a business must be a food development, manufacturing, or processing business and registered to do business and actively operating in Prince Edward Island.
- Located in Prince Edward Island
- Registered to do business in Prince Edward Island
- Actively operating in Prince Edward Island
- Food development business
- Food manufacturing business
- Food processing business
grant_eligibility_criteria|who_cannot_apply
Companies that have a defaulted outstanding debt obligation on file in the Province’s Central Default Registry are not eligible for this grant. Additionally, new project submissions from an applicant in default on any reporting, project completion or financial obligation to Innovation PEI will not be reviewed.
- Companies with a defaulted outstanding debt obligation on file in the Province's Central Default Registry.
- Applicants in default on any reporting, project completion, or financial obligation to Innovation PEI.
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant include activities related to the commercialization of food products or processes.
- New product and prototype developments
- Technical feasibility determinations
- New process developments
- Test-market production
- Rental contracts with processing facilities for test-market production runs
- Technical assessment of processing lines and packaging equipment
- Shelf-life determinations
- Food safety assessments
- Sensory analysis
- Supplier sourcing
- Technical workshops
- Technical training of plant personnel
grant_eligibility_criteria|zone
The eligible geographic zone for this grant is Prince Edward Island. Businesses must be located in Prince Edward Island to qualify for this assistance.
- Business must be located in Prince Edward Island
- Registered to do business and actively operating in Prince Edward Island
grant_single_labels|criteria
Yes, the grant application will be evaluated and selected based on several criteria. These criteria ensure that the funded projects provide economic benefits to Prince Edward Island and meet other essential requirements.
- Level of assistance from other government programs offered or available
- Availability of program funds
- Potential for long-term viability
- Import substitution
- Qualifications and track records of manager(s)
- Export sales
- Employment creation
- Environmental impact
- The project must provide economic benefit to the province of Prince Edward Island
grant_single_labels|register
- Step 1: Consult with an Innovation PEI Business Development Officer for guidance on the suitability of the project and the application process.
- Step 2: Prepare detailed business information and supporting documents, including:
- Outline the history and provide a description of the business
- Existing businesses will need detailed Financial Statements for the previous two years
- New businesses will need a completed business plan
- Description of the proposed project or activity in relation to the products and/or services delivered by the business
- A detailed description of the economic benefits to the organization and to Prince Edward Island
- Detailed information on the estimated costs of the proposed project or activity (cost estimates should be supported by written quotations)
- Source of funds for the project (for example, lending institutions, banks, government loans and/or grants)
- Explanation of the business's current market position and projected market, outlining any increases in market share
- A list of all shareholders and key management personnel
- Step 3: Submit the application before any financial or legal commitment is made on the project.
grant_single_labels|otherInfo
The grant details provide specific eligibility criteria, funding limits, evaluation considerations, and performance monitoring requirements. Additionally, it outlines the application process and the necessary documentation needed for submission.
- Eligible businesses must be located in Prince Edward Island, registered, and actively operating.
- A business in default of any reporting, project completion, or financial obligation to Innovation PEI will not be reviewed.
- Eligible activities include new product/prototype developments, technical feasibility determinations, test-market production, and more.
- The program contributes 50% of project costs up to a maximum of $50,000 per business annually.
- The combined funding from all non-repayable government sources cannot exceed 75% of eligible costs.
- Applications are reviewed on a first-come, first-serve basis and evaluated on criteria such as long-term viability, import substitution, and environmental impact.
- Applicants must consult with an Innovation PEI Business Development Officer before submitting an application.
- Required documentation includes business history, financial statements, detailed project descriptions, economic benefits, cost estimates supported by written quotations, and sources of funding.
grant_single_labels|contact
innovation@gov.pe.ca
902-368-6300
Apply to this program
Food Product Development Assistance Program
The Food Product Development Assistance program offers financial support to Prince Edward Island businesses engaged in food development, manufacturing, or processing. This initiative aims to help businesses access expert professional and technical assistance to create or enhance a new food product or process, facilitating their journey from initial development to full commercialization.
Comprehensive Guide to the Food Product Development Assistance Program
Prince Edward Island (PEI) boasts a rich tradition in food production, and in an effort to sustain and enhance this sector, Innovation PEI offers the Food Product Development Assistance program. This program is designed to offer financial support and technical expertise to businesses involved in food development, manufacturing, or processing. In the environment of increasing competition and evolving market demands, leveraging such assistance can be pivotal for a business's growth and sustainability. Below, we delve into the comprehensive details of the Food Product Development Assistance program, providing potential applicants with all the essential information needed to benefit from this opportunity.
Eligibility Criteria
To qualify for the Food Product Development Assistance, a business must meet several eligibility requirements:
- Location: The business must be located in Prince Edward Island.
- Registration: The business must be registered to do business and actively operating in PEI.
- Industry: The business must be engaged in food development, manufacturing, or processing.
- Debt Status: A business with a defaulted outstanding debt obligation on file in the Province’s Central Default Registry is ineligible for assistance from Innovation PEI.
- Reporting and Obligations: New project submissions will not be reviewed if the applicant has pending obligations or defaults related to reporting, project completion, or financial commitments to Innovation PEI.
Supported Activities and Costs
The program is specifically designed to support a wide range of commercialization activities related to food product development. Eligible businesses can receive support for:
- New Product and Prototype Developments: Assistance for the creation and refinement of new food products and prototypes.
- Technical Feasibility Determinations: Evaluations to determine the technical viability of new processes or products.
- New Process Developments: Innovations in processing methods that enhance product quality or production efficiency.
- Test-Market Production: Financial support for conducting test-market runs, including rental contracts with processing facilities.
- Technical Assessments: Evaluations of processing lines and packaging equipment to ensure optimal performance and conformity with standards.
- Shelf-Life Determinations: Analysis to determine the longevity and stability of food products.
- Food Safety Assessments: Ensuring products meet necessary food safety standards and regulations.
- Sensory Analysis: Conducting studies to understand consumer perceptions and preferences regarding the product.
- Supplier Sourcing: Assistance in identifying and engaging reliable suppliers for ingredients and raw materials.
- Technical Workshops and Training: Training sessions for plant personnel to enhance their skills and knowledge.
Funding Details
Financial support through this program covers up to 50 per cent of eligible project costs, with a maximum contribution of $50,000 per business. It's important to note the following funding specifics:
- Multiple projects can be submitted by a single business, but the total approval amount in a twelve-month period will not exceed $50,000.
- If an approved project has not commenced within twelve months, it will expire, necessitating a new application.
- The combined funding from all non-repayable government sources must not exceed 75 percent of eligible project costs.
Application Evaluation Criteria
Applications are reviewed on a first-come, first-serve basis, provided all required information is submitted. However, meeting the minimum criteria doesn't guarantee funding. The evaluation of applications also considers:
- Government Assistance: The extent of support from other government programs.
- Program Funds Availability: The availability of funds within the program.
- Long-Term Viability: The potential for the project's long-term success and sustainability.
- Import Substitution: The project’s potential to replace imported products with locally produced alternatives.
- Management Qualifications: The qualifications and track record of the business managers.
- Export Sales: The potential for and significance of export sales generated by the project.
- Employment Creation: The extent to which the project is expected to create employment opportunities.
- Environmental Impact: Consideration of the project’s environmental footprint.
The overriding criterion is that the project must provide a tangible economic benefit to Prince Edward Island.
Performance Monitoring and Agreement
Successful applicants must comply with monitoring and reporting requirements set by Innovation PEI. If an application is approved, the business will receive a letter of offer outlining the terms and conditions of the grant. Once accepted, this letter becomes a binding contract between the business and Innovation PEI, ensuring adherence to the stipulated conditions and enabling effective performance tracking.
Application Process and Documentation
It's recommended that potential applicants consult with an Innovation PEI Business Development Officer to determine the suitability of their project and navigate the application process efficiently. If the project isn't fitting for Food Product Development Assistance, the officer may suggest alternative funding options.
Applications must be submitted before any financial or legal commitments are made to the project. A detailed and comprehensive application is crucial and should include:
- Business History and Description: A thorough outline of the business's background and its products or services.
- Financial Statements: Detailed financial statements for the previous two years for existing businesses, or a business plan for new businesses.
- Project Description: A detailed explanation of the proposed project relative to the business’s operations.
- Economic Benefits: An outline of the economic benefits for the business and for Prince Edward Island.
- Cost Estimates: Detailed information on the estimated costs of the proposed project, supported by written quotations.
- Funding Sources: An explanation of other funding sources, including lending institutions, banks, government loans, and other grants.
- Market Position: An analysis of the business's current market position and projected market growth.
- Management Personnel: A list of all shareholders and key management personnel.
Conclusion
The Food Product Development Assistance program is a valuable resource for businesses in Prince Edward Island looking to innovate and grow within the food industry. By providing the necessary financial support and access to technical expertise, the program helps businesses navigate the complexities of product development and commercialization. For PEI, this not only enhances the local economy but also positions the region as a hub for high-quality food products. If you believe your business meets the eligibility criteria, consider consulting with an Innovation PEI Business Development Officer to take the first step towards securing this invaluable assistance.
For more information or to apply for the Food Product Development Assistance program, visit the official website or contact Innovation PEI directly.
