Get a grant to cover up to 50% of eligible expenses for a collaborative project focused on creating, making, growing or selling high-quality plant-based protein products and co-products of processing. Collaborators must be Protein Industries Canada members, with annual membership fees totalling $500.
For a project to be considered eligible for investment, it must:
- Be submitted by a consortium of at minimum two (2) PIC members, at least one of which is a Small or Medium Enterprise (SME) as defined by Statistics Canada as a business with 499 or fewer employees and less than $50 million in gross revenues.
- A consortium may include academic or research institution(s). This is not mandatory but is encouraged.
- Two industry members are minimum for a consortium, but more are encouraged.
- Each member of the consortium must contribute to the project in a meaningful way.
- At least two members of the consortium must contribute financially to the project. PIC will reimburse up to 50 per cent of eligible approved project costs.
- It will be up to the consortium members to determine the amount and nature of their respective contributions.
- The contribution of each consortium member does not need to be equal.
- At least two partners must be Canadian companies or multi-national corporations who are legally entitled to do business in Canada with a significant Canadian business operation. Non-Canadian entities can participate in consortium, based on approval by Protein Industries Canada.
- The project must be aligned with the objectives of Protein Industries Canada and the Global Innovation Cluster Initiative.
- All Projects are required to pay a project administration fee to PIC. This fee will be four per cent of the total eligible reconciled project cost.
- The initiative must be incremental to the regular business of the participating organizations, meaning that the project:
- Is not approved nor in progress and that financial commitments to it are distinct from investments that would have
- otherwise occurred.
- Would not be possible without the participation of consortium partners; and
Is new or would not be undertaken at the same scope or scale without the co-investment provided by the Global Innovation Cluster.