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.
Special consideration will be given to participants utilizing seafood waste or by-product in their product.
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.
Validation and Packaging
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. Please note that restocking current packaging or reprinting current labels are not eligible for support.
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
What is the application process and requirements?
- Complete the New Product Creator application or email firstname.lastname@example.org to be sent the form. 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.
- Please note: for the NEW PRODUCT CREATOR PROGRAM your application must include a brief business and marketing plan.
- 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 provide a down payment before work begins.
- Scheduling of the project may begin immediately upon application approval with a signed quote and project plan.
For more information on this program, or to check the status of your application please contact Ashley Sprague at 902-955-0248 or email@example.com.