Innovation PEI Small Business Assistance

Q: How much funding can be received?

Innovation PEI Small Business Assistance Funds up to 50% of admissible expenses, capped at $4000 per project.

Q: What is the deadline to apply?

The deadline to apply is not specified.

Q: Is the Innovation PEI Small Business Assistance a grant, loan, or tax credit?

Innovation PEI Small Business Assistance is a Grant and Funding

Q: Who are the financial supporters of the Innovation PEI Small Business Assistance?

Innovation PEI Small Business Assistance is funded by Government of Prince Edward Island, Innovation PEI

Q: Who is eligible for the Innovation PEI Small Business Assistance program?

To be eligible for the Innovation PEI Small Business Assistance program, you must: • The business must be located in Prince Edward Island. • The business must be considered a small enterprise according to provincial standards.

Q: Who can I contact for more information about the Innovation PEI Small Business Assistance?

You can contact Government of Prince Edward Island by email at innovation@gov.pe.ca or by phone at 902-368-6300.

Q: Where is the Innovation PEI Small Business Assistance available?

The Innovation PEI Small Business Assistance program is available the province of PE.

Last Update: July 22, 2025

PE, Canada

Money for small business improvement in PEI

At a glance

Eligible Funding

Max. $4,000
Up to 50% of project cost

Timeline

Closing date : May 17, 2024

Financing Type

Grant and Funding

Eligible Industries

All industries

Funds Providers

Innovation PEI

Government of Prince Edward Island

Program status

Closed

Overview

Get up to $4,000 to cover 50% of the costs of activities that increase productivity and competitiveness for your business, such as internal planning and processes, as well as marketing activities if you are a new business.

Activities funded

Examples of admissible projects:

$ 4,000

Operations efficiency project for ACME Corp

$ 4,000

Marketing campaign for new tech startup

$ 4,000

Production workflow study for DEF Corporation

$ 2,500

Develop a comprehensive business plan for XYZ Bakery

$ 2,500

Market research for new vegan restaurant

$ 3,000

Create an HR plan with policies for ABC Cooperative

Eligibility

To qualify for this grant, a business must be located in Prince Edward Island and meet several specific requirements. Ineligible applicants include certain types of businesses and those with outstanding debt obligations or defaults.

Be registered to do business in Prince Edward Island (business registration may not be required for business planning support)
Actively operating on PEI
Is the primary source of income for the applicant or employs at least one employee (minimum of 560 hours)
Not have a defaulted outstanding debt obligation on file in the Province’s Central Default Registry
Not be fishers, farmers, realty companies (including commercial/residential landlords and developers), banks, or financial companies (including pawnbrokers, payday loan, cheque cashing, and white label cash machines)
New project submissions from an applicant in default on any reporting, project completion, or financial obligation to Innovation PEI will not be reviewed until a resolution to the default is reached

Who is eligible?

Given the context provided, the information about the specific evaluation and selection criteria for the grant projects is not available. This implies that without further details, we cannot accurately outline the criteria or the scoring system used by the grant issuers.

Who is not eligible

Yes, certain types of companies are not eligible for this grant:

Businesses with a defaulted outstanding debt obligation on file in the Province’s Central Default Registry.
Fishers, farmers, and realty companies (including commercial/residential landlords and developers).
Banks and financial companies, including pawnbrokers, payday loan providers, cheque cashing and white label cash machine operators.

Eligible expenses

Yes, there are eligible expenses for the Small Business Assistance grant.

Professional fees for a business plan or market research (up to $2,500 in eligible costs).
Professional fees for projects related to operational efficiencies, internal planning or processes, and quality assurance (up to $5,000 in eligible costs).
Marketing and promotion costs (up to $5,000 in eligible costs), including signage, ad placement, or creation of advertising, branding, or promotional materials for new businesses.

Selection criteria

Yes, there are evaluation and selection criteria for this grant. Eligible businesses that submit complete applications will be reviewed on a first-come, first-serve basis and evaluated based on several considerations.

Level of assistance from other government programs offered or available.
Availability of program funds.
The project must provide economic benefit to the province of Prince Edward Island.

How to apply

Consult with an Innovation PEI Business Development Officer for guidance on project suitability, other program offerings, and the application process.

Gather necessary documents including business registration number and date of incorporation (if applicable), description of business operations, detailed project description and how it will benefit the business, detailed cost estimates supported by written quotations, and if applicable, consultant’s proposal(s) and study terms of reference supported by written quotations.

Submit the application online, or request a printable application form to submit by mail or fax.

Submit the application before making any financial or legal commitment to the project.

Monitor performance as required by Innovation PEI and accept the full terms and conditions of the assistance at the time of application.

Additional information

The Small Business Assistance program in Prince Edward Island is designed to support small businesses by enhancing their productivity and competitiveness through the funding of eligible costs related to planning and internal processes. Applicants must be prepared to provide detailed business information, project details, and cost estimates, and they must apply before making any financial or legal commitments.

Applications are reviewed on a first-come, first-serve basis.
Not all projects meeting minimum criteria will receive funding; evaluation may include assistance from other government programs and fund availability.
The purchase of capital equipment is excluded but may be eligible under the Small Business Investment Grant (SBIG).
The project must provide economic benefits to Prince Edward Island.
Applicants in default on any existing obligations to Innovation PEI will not have new submissions reviewed until the default is resolved.
Applicants need to submit detailed descriptions and cost estimates supported by written quotations.
Business Development Officers can help guide applicants on project suitability and alternative funding programs.

Contacts

innovation@gov.pe.ca

902-368-6300

Apply to this program

Frequently Asked Questions about the Innovation PEI Small Business Assistance Program

Here are answers to the most common questions about the Innovation PEI Small Business Assistance. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.