2018 Ignition Startup Fund launches in PEI – for entrepreneurs seeking startup capital

July 4, 2018

Applications are now being accepted for the 2018 Ignition Startup Fund, a competitive-based innovation fund for entrepreneurs seeking startup capital for a new business venture.

Innovation PEI will invest seed capital that will allow the successful applicants to turn venture ideas into tangible, viable businesses.

To learn more or apply prior to the July 13 deadline: CLICK HERE!

This initial investment is expected to leverage additional funds to support the project.

Applicants must ensure that employment agreements allow for participation in this program and for the development of new products and services.

Who is eligible for the Ignition Fund?

Entrepreneurs committed to establishing and operating a new business venture on PEI may apply. The primary applicant must be the founder or majority owner of the business. The product or service developed must have potential to be sold outside Prince Edward Island.

What activities are eligible for funding?

Some activities eligible for support under the Ignition Fund include, but are not limited to:

  • incorporation
  • product development
  • refinement
  • market research
  • intellectual property
  • business development

What level of assistance is available?

Innovation PEI will award up to $25,000 to a successful applicant. A matching contribution is not required.

To learn more about the application process and evaluation criteria: CLICK HERE!

Innovation PEI also launched a NEW Small Business Investment Grant on May 7, 2018 to help small businesses improve efficiency and innovation by contributing financially towards eligible capital asset costs. Further information can be found HERE!