Innovation PEI Small Business Assistance ### 📋 Eligible Entities - Small businesses operating in Prince Edward Island - Sole proprietorships - Partnerships - Corporations (small business classification) - New businesses (within initial operating period) - Businesses seeking to improve productivity and competitiveness Note: Eligibility may require PEI residency or business registration in the province. --- ### 💰 Funding Details - Maximum Grant Amount: $4,000 per applicant - Cost-Share Ratio: 50% grant coverage (applicant must contribute remaining 50%) - Total Project Value Required: Minimum $8,000 (to receive maximum $4,000 grant) - Repayability: Non-repayable grant (not a loan) - Funding Type: Direct grant assistance --- ### 🛠️ Approved Expenses Productivity & Competitiveness Activities: - Internal business planning and strategy development - Process improvement and optimization initiatives - Operational efficiency upgrades - Feasibility studies and business assessments Marketing Activities (New Businesses Only): - Marketing plan development - Brand development and positioning - Digital marketing initiatives - Promotional materials and campaigns - Market research and customer analysis --- ### ⚠️ Conditions & Milestones - Cost-Share Requirement: Applicant must fund the remaining 50% of eligible project costs - New Business Marketing Eligibility: Marketing expenses only eligible for businesses in early operation phase - Pre-Approval: Activities must be approved before expenses are incurred - Documentation: Receipts and proof of expenditure required for reimbursement - Reporting: Completion of project milestones and outcomes reporting likely required - Fund Usage Timeline: Expenses must align with approved project timeline - Ineligible Uses: Grant cannot cover 100% of project costs; requires matching investment