Food Product Development Assistance

The financing modalities for the Food Product Development Assistance grant are not explicitly provided based on the information available. Further details may be needed from specific official resources.

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

Who is eligible?

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

Who is not eligible

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.

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

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

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.