New Product Creator
This initiative is intended to support the development of new seafood value-added products through activities such as market validation, prototype development and scale-up support with the intent of having the product successfully reach the intended market.
Offered by Perennia Agriculture and Food Inc.
Amount
Projects are cost-shared to a maximum of 50/50 with applicants (for example, a $10,000 project would receive $5,000 in funding); funding contribution is based on scope and deliverables of the project
Quick eligibility check
Who can apply
Participants must be ready and willing to complete the commercialization cycle to take a product to market with the goal of this program to have a prototype created and the scale-up process determined. The creation of a new product must include assistance through technical solutions provided by Perennia Food and Agriculture.
Is there a pre-requisite?
Yes. All successful applicants will be required to work with consultants funded under this program to validate the market, positioning and brand for their product concept before product development begins. Once these factors have been explored, technical services provided by Perennia Food and Agriculture must be included in the path to move the new product to commercialization.
About the funding
What funding is available?
Funding contribution available is based on scope and deliverables of the project.
Is there an equity requirement?
Yes. Projects are cost-shared to a maximum of 50/50 with applicants (for example, a $10,000 project would receive $5,000 in funding). Applicants must pay a percentage of their contribution for the project to begin, depending on total project costs
Show all funding details
Process When a completed application is approved a quote will be created and sent to the applicant. After the applicant approves and signs the quote, they will be required to pay 20% of the quote upfront.
When you work with the team at the Perennia Food and Beverage Innovation Centre on improving a current product or creating a new one, funds can be made available to help you assess the competition in your product category so you have as much market information as possible to make sound business decisions.
Funds can also be used to investigate packaging options that are new to a category or the sector. Funds can also be made available to undertake sample processing runs at the Centre's pilot plant to enable sensory evaluations or to receive feedback on a product from consumers or clients. These services are intended to help you refine and improve your product prior to entering the market.
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| Advanced Manufacturing Technology Assessments | Grant | Up to $50,000 | Open |
| Technical Obstacles Program | Grant | Projects are cost-shared to a maximum of 50/50 with applicants (for example, a $10,000 project would receive $5,000 in funding) | Open |
| Innovative Solutions Canada Program: Challenges | Grant | Phase 1: a maximum of $150,000 over up to six months to develop a proof of feasibility report (in some cases up to $300,000) | Open |
