The Labelling and Product Testing Fund for 2021/2022 fiscal, now open.
Who can apply?
The fund is aimed at companies that:
- Have potential export orders and require testing of samples to ensure target market standards are met
- Are seeking to enter new markets where packaging changes (including colour) are required to meet the entry requirements
- Require testing for nutritional content and regulated substances such as heavy metals and cadmium
- Need product modifications based on documented buyer or market requirements
- Require their product to undergo physical or formulation modifications in order to meet target market requirements based on buyer preference
- A sole proprietor, partnership or company wholly owned by Trinidad and Tobago nationals and registered and operating in Trinidad and Tobago;
- A firm that has been in continuous operation for a minimum of two (2) years;
- Evidence of current interest from a potential buyer including product testing, product modification, packaging or labelling redesign requirements for target market acceptance;
- Companies that have begun the modification process based on documented buyer interest may apply. Assistance may be provided based on outstanding payments only, up to a ceiling of $80,000 at the same ratio of 25/75%.
There will be no re-imbursement for monies paid prior to the execution of a contract between the applicant and exporTT. Information on what was paid and what is outstanding needs to be clear. Outstanding amounts must clearly be related to an export order. Applicants should also be able to state the reason why the project could not be completed with their own funds and evidence shown to substantiate this claim.
How does the Payment Mechanism work?
Labelling and Product Testing Fund will cover 75% of the cost of Product Testing, Product Modification, Packaging Modification & Labelling Redesign to a ceiling of TT$80,000 per beneficiary.
It is structured as follows:
- exporTT will pay the remaining 75% of the cost to the supplier(s) subject to the payment schedule(s) contained in the relevant executed agreement between the applicant and exporTT.
- Successful applicants will be required to pay the first 25% of the cost of the approved service to the selected supplier(s), subsequent to the execution of the required contract between the applicant and exporTT.
Successful applicants must submit a Disbursement Request Letter and proof of payment (e.g. receipt) to the Business Advisor – External Funding to begin the payment process.
Submission of a completed application form and supplemental documents for a grant DOES NOT GUARANTEE approval.