LaunchPad

Amount:

No Fixed Amount

Type of Program:

Grants, Incubator

Description:

LaunchPad PEI is a non-profit incubator managed by Innovation PEI that supports the growth of innovative companies in Prince Edward Island. LaunchPad PEI is a designated incubator for the Start-up Visa Program and engages a network of partners to offer access to a Business Development Office, office and/or laboratory space, and other services to assist local and immigrant entrepreneurs to overcome challenges in PEI.

Comments on Funding:

An eligible business may access support for eligible costs related to: offsetting operating costs, offering office rental incentive, or balancing financial risk (this list is representative, not exhaustive).

No details concerning the amount are available.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

be a new business starting in Prince Edward Island or an established business from outside the province intending to actively operate in Prince Edward Island,
demonstrate the potential to create new jobs and wealth in Prince Edward Island,
operate within one of these strategic sectors: advanced manufacturing and processing, aerospace and defense, bioscience, information and communications technology, renewable energy and clean technology, and first-of-its-kind exportable goods or services in other sectors may be considered such as: battery storage, financial technology (FinTech), healthcare technology, and biotechnology,
not have a defaulted outstanding debt obligation on file in the Province’s Central Default Registry is ineligible for assistance from Innovation PEI.

Application Steps:

are encouraged to consult with an Innovation PEI Business Development Officer for guidance on the suitability of the project and the application process,

can apply through two streams:

apply as a PEI Start-up by submitting a business plan to saconrad@gov.pe.ca
apply as an immigrant entrepreneur at Start-Up Visa

Documentation Needed:

The applicant must submit:

1
an outline of the history and a detailed description of the business,
2
detailed Financial Statements for the previous two years, if an existing business,
3
a completed business plan, if a new businesses,
4
description of the proposed project or activity in relation to the products and/or services delivered by the business,
5
a detailed description of the economic benefits to the organization and to Prince Edward Island,
6
explanation of the business's current market position and projected market, outlining any increases in market share,
7
a list of all shareholders and key management personnel.