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
- Innovation PEI
- Government of Prince Edward Island
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
Creating a dairy-free cheese process and technical training
$25,000
Technical assessment of packaging equipment for frozen meals
$30,000
Developing a new gluten-free biscuit prototype with extended shelf-life
$27,500
Test-market production of organic snack bars
$25,000
Developing a prototype for sugar-free candy
$27,500
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
Unlocking Financial Support for Business Innovators
This grant caters to businesses seeking to expand their operations by providing necessary financial resources to support diverse projects. It is tailored to enhance innovation and development across various industries.
In-Depth Insight into the Grant’s Objectives and Benefits
The grant is structured to fortify business growth and innovation, offering essential financial backing to entrepreneurs and organizations with projects that align with pivotal industry objectives. It emphasizes supporting the backbone of the economy, especially targeting small and medium-sized enterprises (SMEs), which are pivotal in pioneering new methodologies and technologies within their respective fields. The initiative recognizes the dual need of addressing short-term operational challenges while contributing to sustainable economic advancements.
This funding enables recipients to cover various project-related expenses, such as acquiring advanced technology, conducting comprehensive market research, or developing state-of-the-art production facilities. Moreover, the grant not only provides financial aid but also offers access to a wealth of support, including expert consultancy, workshops, and collaborative opportunities with industry leaders, thereby maximizing project efficacy.
An attractive aspect of this grant is the degree of flexibility it offers to adapt to emergent market conditions or to capitalize on newly identified business opportunities. This adaptability ensures that funded projects remain strategically aligned with current and future market demands, enhancing their sustainability and relevance over time.
Prospective applicants should be aware that the grant selection process is rigorous, focusing on criteria such as the innovation quotient, potential for widespread impact, feasibility, and strategic alignment with the grant's overarching goals. This thorough vetting process guarantees that only the most promising projects, with a high likelihood of significant commercial and social outcomes, obtain the necessary financial support.
Overall, this grant provides a significant opportunity for innovators to drive their projects forward, build foundational growth, and contribute meaningfully to their respective industries and communities. By participating in this program, businesses can achieve a competitive edge while fostering broader economic vitality and resilience.
