Building a brand: Waspu

John Davis, CEO of Qalipu Development Corporation (QDC), has some advice for aspiring entrepreneurs.

"Plan for success, know your story and know your product – the value it brings to the market and which problem(s) it solves," he said.

Mi’kmaq Commercial Fisheries, under the umbrella of QDC, has been working with the Raymond Thomas Lipid Group at Grenfell Campus to develop its seal oil brand, Waspu (which is the Mi’kmaq word for seal).

Seal oil contains "healthy fats" known as Omega-3 fatty acids – many people may not know that human bodies are unable to produce these essential fatty acids, even though they are critical for its proper functioning. The Omega-3s in seal oil include EPA, DHA, and DPA; research has shown that these Omega-3s help decrease the risk of cardiovascular diseases, lower blood pressure, reduce the effects of inflammatory diseases such as arthritis, hypertension, Crohn’s disease, cancer, skin diseases and depression, promote nerve regeneration and brain development, and much more.

Mr. Davis explained that the Waspu brand seal oil was created for three reasons:

Understanding the market and audience has been a challenge and a success, said Mr. Davis, adding there are many brands of seal oils and omega 3 products in the market place.

"Why would Waspu be competitive? Why would consumers want to buy it over the other brands?" he asked. "We researched this extensively and were able to determine that an "Indigenous" brand produced from the world’s most regulated and sustainable resource would have unique selling points. In other words, there was a market niche for WASPU that other brands cannot easily enter."

More information about QDC and Waspu is available here.