PEI Food Product Development Fund

Overview of the PEI Food Product Development Fund program:

The Food Product Development Assistance program offered by the Government of Prince Edward Island (PEI) is designed to support food businesses in the province by providing financial assistance for the development of new food products. This program is aimed at helping businesses in the food sector to innovate, enhance their product offerings, and improve their competitiveness in the market.

Benefits of the PEI Food Product Development Fund program:

• Funding Support: The program provides financial assistance to cover a portion of the costs associated with the development of new food products. This may include costs related to:
• Research and development
• Ingredient sourcing
• Product formulation
• Packaging and labeling
• Marketing and promotional activities

Eligibility criteria of the PEI Food Product Development Fund program:

• Applications will also be evaluated using the following considerations:
• Level of assistance from other government programs offered or available;
• Availability of program funds;
• Potential for longterm viability;
• Import substitution;
• Qualifications and track records of manager(s);
• Export sales;
• Employment creation; and
• Environmental impact.