PEl Product Development Assistance
Amount:
$50,000
Type of Program:
Grants
Description:
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.
Comments on Funding:
Funding is 50% 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.
When It Ends:
Ongoing
Deadline:
Rolling deadline
Eligibility:
The applicant must:
Application Steps:
The applicant must:
complete the online Business Development Application Form,
accept the letter of offer forwarded to him which shall create a contract between Innovation PEI and the applicant.
Documentation Needed:
The applicant must submit:
- 1the online application form,
- 2a description of the business and an outline of its history,
- 3detailed Financial Statements for the previous two years, if existing business,
- 4a completed business plan, if a new businesses,
- 5a description of the proposed project or activity in relation to the products and/or services delivered by the business,
- 6a detailed description of the economic benefits to the organization and to Prince Edward Island,
- 7detailed information on the estimated costs of the proposed project or activity,
- 8source of funds for the project,
- 9explanation of the business's current market position and projected market, outlining any increases in market share,
- 10a list of all shareholders and key management personnel.
Program Contact:
