Product and Market Development Program — Agricultural Industry Organizations
Highlights
The Product and Market Development Program is a fantastic opportunity for your business. It offers support to expand your product base or enter new markets. This program is tailored to meet the unique needs of small and medium-sized agricultural producers, agri-businesses, and agri-processors like yours.
What You Get
- Funding for machinery and equipment purchases
- Support for market development activities
- Assistance with commercialization and adoption of new products and technologies
Benefits
- Explore new and emerging markets with investigative travel and research support.
- Develop new products with funding for professional services, process development, and packaging.
- Enhance your market presence with brand development and promotional materials.
This program is designed to be accessible and beneficial, making it easier for you to qualify and gain the support you need to grow and innovate.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- No repayment is required.
- No interest rates apply.
Eligible Expenses:
- Purchase of machinery and equipment
- Attending trade shows (not exhibiting)
- Exploring new or emerging markets
- Investigative travel to new markets
- Incoming buyer missions
- Market research
- Feasibility studies
- Translation and legal consultation for new markets
- Consulting or business coaching
- Mentoring and training for logistics
- Commercialization of new products, technologies, practices, or processes
- Marketing plan development
- Consulting services for market trends analysis
- Development of new products (professional services, process development, recipe development)
- Purchase of equipment for processing, packaging, and labeling
- Design and first printing of packaging and promotional materials
- Brand development
- Focus groups for product development
- Analytical and quality testing
- Travel and transportation costs
Ineligible Expenses:
- Funds cannot be used for exhibiting at trade shows.
- General operating expenses are not covered.
- Costs not directly related to the eligible activities listed above.
Fees:
- There are no fees associated with this grant program.
Qualifications
- Must be a small or medium-sized enterprise (SME).
- Must be an agricultural producer, agri-business, or agri-processor.
- Must be operating in Prince Edward Island.
- Must be a Mi’kmaq First Nations or other Indigenous group, agriculture industry organization, club, or association.
- Must provide business or organization information, including CRA registration number.
Must have a project proposal (1-2 pages) with specific sections such as cover page, executive summary, project objectives, timeline, results, sustainable CAP outcome, climate change/carbon sequestration, budget, evaluation, and communication of support (if applicable).
Disqualifications:
- Businesses not related to agriculture or agri-processing.
- Businesses not operating in Prince Edward Island.
Description
This program offers your business a chance to grow and compete better both locally and internationally. You can receive funding to support various activities, such as buying new machinery, exploring new markets, or developing new products.
You can use the money for:
- Purchasing equipment
- Attending trade shows
- Investigating new markets
- Developing marketing plans
- Creating new products and packaging
Special attention is given to projects that adopt new knowledge and clean technologies, which can help your business innovate and stay ahead.
The funding is flexible and tailored to meet the specific needs of small and medium-sized enterprises. This means you can focus on what matters most to your business, whether it's expanding your product line or entering new markets. This is a great opportunity to enhance your business’s capabilities and reach.
Program Steps
Complete the Application Form: Fill out the application form with the following information:
- Applicant contact information
- Business or organization information, including CRA registration number
- Project start and end date
- Additional sources of project funding
- Recipient type (e.g., primary producer, agricultural landowner, processor)
- Type of industry (e.g., Dairy, potato, beef, hog, grains and oilseeds)
- Signature for declaration and consent to personal information
- Demographic information (optional)
Prepare Documentation: Gather and prepare the necessary documents to support your application. These include:
- Project proposal (1-2 pages) with sections such as:
- Cover page
- Executive summary
- Project objectives
- Timeline
- Results
- Sustainable CAP Outcome
- Climate change/carbon sequestration
- Budget
- Evaluation
- Communication of support (if applicable)
- Project proposal (1-2 pages) with sections such as:
Submit the Application: Send the completed application form and prepared documentation to the PEI Department of Agriculture. You can submit it via mail or email:
- Mail:
- PEI Department of Agriculture
- 11 Kent Street
- PO Box 2000
- Charlottetown PE C1A 7N8
- Email: [email protected]
- Mail:
Await Review: The PEI Department of Agriculture will review your application to ensure it meets all criteria and aligns with the program's objectives. Be prepared to provide additional information if requested.
Approval and Funding: Upon approval, you will receive details about the funding, including any terms and conditions. Once agreed upon, the funds will be disbursed to support your project.
Project Implementation: Begin implementing your project as outlined in your proposal. Ensure you adhere to the timeline and budget specified in your application.
Reporting and Evaluation: Keep records of your project’s progress and expenses. You may be required to submit progress reports and a final evaluation to demonstrate how the funds were used and the outcomes achieved.