PEI ADAPT Council services shall have the following criteria:
Proposals must clearly demonstrate the potential for economic viability and longer-term self- sufficiency, where the nature of the project warrants.
Investments will be provided for a limited period contingent upon agreed upon milestones being met in an agreed upon time period.
Subject to policy direction from the Board of Directors, the Council may accept contracts on a fee for service basis to serve as a think tank to assess the impacts of corporate and/or government policy, develop sustainability plans or conduct research on policy development. The Council’s activities are not intended to directly influence / lobby any level of government.
Investments are to be used for the expansion or growth of agricultural and food businesses or to improve the services provided to the sector.
Investments will not be used to support theoretical research that has no commercial applications. Investments may be used to support pre-commercial research and development of new products if there is a stated agreement on how the Council will receive a return on investment if/when products are commercialized.
Funding is conditional on recipients meeting all investment, performance, management and audit requirements.
Three years financial statements may be required. Investment could be debt, convertible debt, equity or royalty fee based.