March 9, 2005
For immediate release
Two New Programs at the Food Technology Centre Provide Support to the Dairy Industry
PEI Food Technology Centre is currently the only Centre in the Atlantic Provinces mandated by the CDC to provide consultation services through these programs.
“Prince Edward Island’s food processors have great potential to expand their product lines,” said Development and Technology Minister Mike Currie. “What they need is access to programs that will help them bring new products to market faster while minimizing the very considerable cost of product development. FTC certainly has the expertise to help in this area, and I am pleased to see that this expertise has been recognized and will be available to the food industry.”
The two programs are:
∙ Direct Access Fund which will allow eligible companies to seek expert advice directly from FTC for up to 7.5 hours or $1,500 of free consultation on a specific project. In the case where a company requires additional technical advice in excess of 7.5 hours, the CDC may elect to share the costs associated with the additional consultation(s) up to a maximum contribution of $1,500.
∙ Innovation Support Fund is available to companies for developing new and re-formulated dairy products/components and further processed products which utilize milk or milk ingredients. The fund provides financial support of up to 75 % of a project's cost, to a maximum of $25,000.
The two new funds have been created to support innovation and technology transfer, placing particular emphasis on small and medium sized companies who lack the resources, time and expertise to develop new products or to reformulate existing products for new markets.
Farm cash receipts for PEI’s dairy industry currently top $50 million.
“We’re really looking forward to working with clients from Prince Edward Island and beyond,” said Dr. Jim Smith, FTC’s Executive Director. “Developing new food products is an exciting and interesting business and we are pleased to be able to share our expertise and experience in this area.”
Producers and manufacturers interested in the program may contact Ed Charter, Food Science Manager, PEI Food Technology Centre, phone (902) 368-5548 or Email email@example.com