Apply to Improve a Food Product or Process
The PEl Product Development Assistance is available to Prince Edward Island companies to access professional and technical help when creating or improving a new food product or process. This technical help can be used to develop and test new and improved products and processes, and other technical development-related activities.
Technical help may be needed to develop a product from start-up through to commercial use. Through this assistance, business and government work together. Government will offer financial help at those times when the business is most exposed to financial risk during the start-up period and during growth of product lines or production of new products.
Am I eligible?
You are eligible for this assistance if you are a manufacturer, processor, and provider of exportable services in the following areas:
- food development and processing
- original exportable services may be considered in other sectors
You must be a sole proprietorship, partnership, cooperative, or a limited liability company. Businesses engaged in retailing and services (to businesses or consumers) are not eligible for help.
In order for your project to be eligible for assistance, you will be expected to provide economic benefit to the province and similar businesses cannot be at risk as a result of your proposed project.
New project submissions from an applicant in default on any reporting, project completion or financial obligation to Innovation PEI will not be reviewed until a resolution to the default is reached.
What activities will this assistance support?
Commercialization activities which can be supported include:
- new product and prototype developments, technical feasibility determinations, 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
Other conditions when evaluating your request for help include:
- potential for long‐term viability
- import substitution
- availability of support funds
- qualifications and track records of manager
- cost benefit to the province
- level of aid from other government programs offered or available
- export sales
- employment creation
- Environmental impact
What is the level of assistance available?
The assistance contributes 50 per cent of project costs to a maximum contribution of $50,000 per company. Multiple projects may be submitted by one company; however, the maximum approval amount to one company in a 12 month period will not go above $50,000. Approved projects that have not started by the end of a twelve month period will expire and a new application will have to be approved.
Innovation PEI reserves the right to deny a grant application or request for payment if it suspects or detects fraudulent intent.
The PEI Product Development Assistance requires monitoring for a twelve month period. You must be prepared to provide information, as requested, on the ongoing activities of the project.
For each project approved, a letter of offer will be forwarded to you which, when accepted, shall create a contract between Innovation PEI and yourself.
Should your project fail to comply with the terms of the contract or is discontinued, Innovation PEI may at its sole discretion:
- declare you (the applicant) to be in non‐performance (default) of the contract
- request you (the applicant) repay in full the incentive received
- take necessary legal action to collect the incentive amount in full with interest
Innovation PEI specializes in providing one-on-one business advisory services. Our qualified staff can also provide information regarding most business development services offered by government agencies across Prince Edward Island. Application forms and additional information can be obtained from Innovation PEI.
Application must be submitted before any financial or legal commitment is made on the project.
*This information is provided for information purposes and is not comprehensive and reflective of all Innovation PEI policies. Not all projects meeting the minimum assistance criteria outlined will receive funding. Please consult with an Innovation PEI staff member for guidance specific to your company's situation.
General Contact Information
94 Euston Street, PO Box 910
Charlottetown, PE C1A 7L9
Telephone: (902) 368-6300
Facsimile: (902) 368-6301