New Product Creator Program
This initiative is intended to support the development of a new product with a focus on using Nova Scotia agricultural by-products or production of a beverage. 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.
Because of the more intensive nature of this work, deadline for applications for this program is October 31, 2018 unless funds are expended before this date.
Who is eligible?
- Nova Scotia-based agriculture producers or agri-food and beverage processors with the passion and means to successfully commercialize a new product to market – product concept must be noted as part of the application process. Emphasis will be placed on funding products utilizing agricultural by-products in new products, and beverages.
- The product will need to contain, a a minimum, 20 percent Nova Scotia=based agricultural products as ingredients.
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.
What funding is available?
Funding is available to a maximum of $20,000 per annum per applicant.
Is there an equity requirement?
Yes. Projects are cost-shared to a maximum of 50/50 with applicants (for example, a $40,000 project would receive $20,000 in funding). Applicants must pay 20 percent of their contribution for the project to begin, with the remaining 80 percent of their contribution due at project completion.
What is the application process and requirements?
- Complete the application form specific to this program and include a brief business and marketing plan. Incomplete applications will not be considered for funding so please ensure you submit a completed application. All information will be kept confidential and used for application assessment purposes only.
- Once an application is received, applicants should be prepared to be contacted by a Perennia team member to get further information or to have follow up questions answered.
- Applications will be reviewed quickly for approval so projects can move forward.
- Successful applicants must be able to complete payment of 20 percent of their portion of the project before work begins.
- Status of your application can be checked by e-mailing email@example.com