Preheat oven to 375 degrees. Line a baking sheet with parchment paper or a silicon baking mat.
In a mixing bowl, combine the breadstick mix, olive oil, cheddar cheese, eggs, and water. Dump the mixture onto a clean work surface and knead until smooth. Divide the mixture into 12 equal portions and roll into sticks about 7 or 8 inches long. Place the breadsticks on the prepared baking sheet and bake for 20 minutes.
Combine the Parmesan cheese and garlic powder on a plate. Wrap the breadsticks with the bacon, gently stretching the bacon as you do. Roll the breadsticks in the Parmesan mixture, return to the baking sheet and bake for another 20 minutes or until the bacon is cooked and the breadsticks crisp.