Innovation PEI Small Business Assistance

📋 Eligible Entities - Small businesses operating in Prince Edward Island - New businesses in PEI - Sole proprietors and self-employed individuals - Partnerships - Incorporated businesses - Social enterprises and cooperatives (subject to verification) - Businesses must be actively engaged in commercial operations in PEI ### 💰 Funding Details - Maximum Grant Amount: $4,000 per applicant/business - Matching Requirement: 50% cost-sharing (grant covers 50%, business covers 50%) - Repayability: Non-repayable grant (contribution does not require repayment) - Funding Structure: Direct grant to offset eligible project costs ### 🛠️ Approved Expenses - Internal Planning & Processes: - Business planning and strategy development - Process improvement and optimization - Systems and workflow analysis - Organizational restructuring and efficiency initiatives - Marketing Activities (New Businesses Only): - Market research and competitive analysis - Brand development and identity creation - Marketing materials and collateral - Digital marketing and online presence development - Initial promotional campaigns - Productivity Enhancements: - Consulting services related to above activities - Training on new processes or systems (directly related to project) ### ⚠️ Conditions & Milestones - Eligibility Requirements: - Business must be legally registered and operating in PEI - Applicant must own/have significant stake in the business - No public sector or government entities eligible - Application Process: - Submit detailed project proposal with cost breakdown - Demonstrate how project increases productivity or competitiveness - Provide proof of matching funds commitment (50%) - Fund Disbursement: - Grant issued upon project approval - Reimbursement typically requires receipts and proof of expenses - Funds must be used within agreed project timeline - Reporting Requirements: - Document completion of funded activities - Submit final report with outcomes and results - Demonstrate productivity/competitiveness improvements achieved - Key Restrictions: - Funds cannot be