Strategic Improvement Assistance

To be eligible for the Strategic Improvement Assistance grant, a business must be located in Prince Edward Island and satisfy specific criteria. Here are the eligibility requirements:

• Registered to conduct business and actively operating on Prince Edward Island
• Manufactures, processes, or develops goods or services primarily for export
• Operates within one of these strategic sectors:
• Bioscience
• Aerospace and defence
• Advanced manufacturing and processing
• Renewable energy and clean technology
• Information and communications technology
• Creative and cultural industries
• First-of-its-kind exportable goods or services in other sectors may be considered
• Must not have a defaulted outstanding debt obligation on file in the Province’s Central Default Registry
• Resolved any defaults on reporting, project completion, or financial obligations to Innovation PEI

Who is eligible?

Yes, there are eligible types of companies for the Strategic Improvement Assistance grant in Prince Edward Island. Eligible businesses must be located in PEI, registered, actively operating, and primarily focusing on export in specific strategic sectors.

• Bioscience
• Aerospace and Defence
• Advanced Manufacturing and Processing
• Renewable Energy and Clean Technology
• Information and Communications Technology
• Creative and Cultural Industries
• First-of-its-kind exportable goods or services in other sectors (may be considered)

Who is not eligible

Companies that are in default of outstanding debt obligations on file in the Province’s Central Default Registry and those in default on any reporting, project completion, or financial obligations to Innovation PEI are not eligible for this grant.

• Businesses with defaulted outstanding debt obligations in the Province’s Central Default Registry
• Businesses in default on any reporting, project completion, or financial obligations to Innovation PEI

Eligible expenses

Funding may be available for eligible costs related to assessment, planning, design, or implementation of projects aimed at improving operational efficiencies, internal planning, processes, or quality assurance. Primarily, costs to engage outside professional expertise are considered, along with other directly related eligible activity costs.

• Strategies to improve productivity, quality, food safety, or environmental management
• Plans for integrating effective tools for communications, transactions, operations, and management
• Human resource strategies
• Workflow study, production planning, and logistics planning initiatives
• Assessment and development of renewable/clean energy integration strategies
• Intellectual property advice, planning, and strategy

Yes, there are evaluation and selection criteria for the Strategic Improvement Assistance grant. Applications are evaluated based on factors such as the program’s objectives, potential for long-term viability, qualifications and financial capacity of the business, among others.

• Objectives of the program
• Potential for long-term viability
• Qualifications and record of the business and senior management
• Evidence the business has the financial capacity to complete the project
• Level of assistance from other government programs offered or available
• Export sales and/or import substitution
• Economic benefit to the province
• Availability of program funds
• Employment creation