PEI Start Up Business Grants (2023): Current List of Programs
For a small population, there are a surprising number of PEI start up grants.And on this page you’ll find all of them!
Start Up Business Grants in Price Edward Island – Current Programs
In addition to PEI business grants for start ups, the list below includes other types of programs, such as loans, tax credits, and more.Click on one (or more) of the blue buttons to filter the list. And to get detailed information about each funding programs, just click “Read More” below each excerpt:
All Grant Loan Loan Guarantee Tax Credit Subsidy In-Kind Support Investment
Accelerate HER PEI
Amount: N/A Type of Program: Entrepreneurship Program Description: Accelerate HER PEI is a 12-week program led by PEIBWA and delivered from PEIBWA’s Rural Women’s Business Centre both in-person and virtually. This program will serve high-potential women business owners operating in PEI. Participants will benefit from free access to business support services customized to meet their
Activate HER PEI
Amount: N/A Type of Program: Entrepreneurship Program Description: ACTIVATE HER PEI is a six week program led by PEIBWA and the Atlantic Canadian Women in Growth Partnership. The program will take participants through the steps of creating a strategic business plan & process for their business, while providing additional resources to help take their concept
Aerospace and Defence Tax Rebate
Amount: No Fixed Amount Type of Program: Rebate Description: The Aerospace Tax Holiday provides all eligible aerospace and defence-related companies a full rebate annually on all corporate income tax paid to the province for operations conducted in Prince Edward Island. There’s also a full rebate annually of all real property tax attributable to ownership or
ChangeMaker Funding Program – Catalyst Funding
Amount: $5,000.00 Type of Program: Grants Description: Catalyst Funding supports entrepreneurs, companies, students and fail forward applicants with their early-stage market validation & engagement activities, including: market studies or surveys, travel to access potential markets or customers, hiring of expertise to assist with development of a business/financial model, any costs relating to connecting to the
ChangeMaker Funding Program – Ignition Fund
Amount: $10,000.00 Type of Program: Grants Description: The Ignition Fund is designed to help early-stage changemakers kick-start their validated idea into business model development and for mvp prototype development. Comments on Funding: Funding for entrepreneurs and companies is up to $10,000.Funding for fail forward applicants is up to $10,000.Funding awards are taxable. When It Ends:
Craft Industry Support
This program is currently closed. Amount: $1,000 Type of Program: Grants Description: The Craft Industry Support provides financial assistance to Prince Edward Island craftspeople (people, businesses and groups who are or plan to be in craft production). This helps to expand the production of quality crafts for local and export market needs. Comments on Funding:
Entrepreneur Loan Program
Amount: $100,000 Type of Program: Loan Description: The Entrepreneur Loan Program provides entrepreneurs with up to $100,000 for use as an investment in new and existing Prince Edward Island businesses. Comments on Funding: Funding is up to a maximum of $100,000. Working capital financing will not exceed $35,000. Funding for capital costs will only be
Farmland Financing
Amount: No Fixed Amount Type of Program: Loan Description: The Farmland Financing provides term loans to new and expanding farms or to those involved in farmland succession within PEI. Finance PEI will provide two financing streams of which a farmer is eligible to apply under only one. Comments on Funding: Funding is: up to 90%
Food Propel’s Growth Fund
Amount: No Fixed Amount Type of Program: Accelerator Description: Food Propel’s Growth Fund provides financial support to food companies on PEI to grow their business. Food Propel is an intensive one-year accelerator program providing selected companies workshops, market investigation, a dedicated mentor team, networking & learning and access to their Growth Fund. Comments on Funding:
Food Xcel Award
Amount: $25,000 Type of Program: Competition, Entrepreneurship Program Description: Food Xcel has been developed to help aspiring food entrepreneurs move their idea forward through a combination of progressive workshops, networking opportunities with food agencies, industry experts, and entrepreneurs and a chance to compete for a $25,000 award from Innovation PEI’s Ignition Fund. Comments on Funding:
Future Farmer Program
Amount: No Fixed Amount Type of Program: Grants Description: The Future Farmer Program supports the expansion of domestic and international competitiveness by supporting new farmers to improve the probability that they establish or continue profitable and sustainable commercial farm businesses. The program will help new entrants through three streams of entry, identify and prioritize their
Future Fisher Program
Amount: No Fixed Amount Type of Program: Grant, In-Kind Support Description: The Future Fisher Program provides training and financial assistance to aid new entrant lobster fishers and lobster fishers working towards ownership of a lobster fleet to become better positioned for success in the PEI lobster fishery. Comments on Funding: Applicants who have borrowed money
Ignition Fund
Amount: $25,000 Type of Program: Investment Description: The Ignition Fund is a competitive based innovation fund for entrepreneurs seeking start-up 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. Comments on Funding: Funding is up to $25,000 per
Impact Atlantic Program
Amount: $25,000 Type of Program: Loans Description: The Impact Atlantic Program offers the Impact Loan that helps foster small and medium-sized businesses in Prince Edward Island’s Charlottetown, Cornwall, Stratford cities. Comments on Funding: Funding is a loan of up to $25,000, with flexible repayment terms and no penalty for early repayment of the principal. When
Information Technology Financing Assistance
Amount: No Fixed Amount Type of Program: Loan Description: The Information Technology Financing Assistance provides term financing for purchasing capital assets and operating capital for the business’s accounts receivable and inventory. The assistance can take the form of: 1intermediate term loans for purchasing capital assets, 2operating lines of credit for purchasing inventory (based mainly on
Information Technology Implementation Assistance
This program is currently closed. Amount: $40,000 Type of Program: Grants Description: The Information Technology Implementation Assistance program contributes funds toward the cost of implementing the new IT strategies recommended through the Information Technology Planning Program or a similar assessment. This new technology should make the applicant company more productive, profitable and competitive. Comments on
Information Technology Planning Assistance
This program is currently closed. Amount: $5,000.00 Type of Program: Grants Description: The Information Technology (IT) Planning Assistance is for helping new and existing Prince Edward Island small businesses get advice to estimate the information technologies needed for their business. Comments on Funding: Funding is up to 50% of eligible consultant costs in connection with
Island Capital Partners’ Fund
Amount: $500,000.00 Type of Program: Investment Description: The Island Capital Partners’ Fund invests in high growth potential Prince Edward Island companies. Comments on Funding: Investment size usually ranges from $100,000 to $500,000. When It Ends: Ongoing Deadline: Rolling deadline Eligibility: The applicant must: Applicants must be early-stage Prince Edward Island companies with high growth potential.
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
Manufacturing and Processing Assistance
Amount: No Fixed Amount Type of Program: Loan Description: The Manufacturing and Processing Assistance provides financial support to manufacturing and processing businesses in Prince Edward Island to buy land and buildings, specialized equipment, and in some cases, production inventory. The assistance can take the form of: capital loans for the purchase and/or refurbishment of capital
Micro-Loan Program
Amount: $15,000.00 Type of Program: Loan Description: The Micro-Loan Program supports Prince Edward Island new and existing entrepreneurs with financing and working capital requirements. Comments on Funding: Funding is up to a maximum of $15,000 per applicant.Repayment terms are up to a maximum of 5 years at an interest rate of TD Bank Prime +
PEIBWA Micro Grants
Amount: $500 Type of Program: Grants Description: PEIBWA Micro Grants are designed to help new, growing, and established women entrepreneurs through a non-repayable grant and business skills support. Comments on Funding: Funding is up to $500, with 75% payable on approval and remaining payable on completion of final report. There is a maximum of five
Production Loan Program
Amount: $3,000 Type of Program: Loan Description: Production Loan Program offers interest-free loans to help craftspeople purchase materials (and in some cases equipment and building supplies) in the off season, when income is limited. Comments on Funding: Funding is in the form of an interest-free loan up to $3,000. There is a yearly administration fee
Regis Duffy BioScience Fund (Duffy BioScience)
Amount: $100,000 Type of Program: Investment Description: The Regis Duffy BioScience Fund (Duffy BioScience) invests up to $100,000 in emerging bioscience related businesses that are at the commercialization or near commercialization stage of their development with activities in Prince Edward Island.Their aim is to increase each project’s chances of successfully getting to market and to
Rental Incentive Assistance
Amount: No Fixed Amount Type of Program: Subsidy Description: The Rental Incentive Assistance contributes to rental costs for Prince Edward Island companies to establish a new business or to expand existing production capabilities. Assistance may be as a contribution towards the cost of leasing additional space in any community in the province, or competitive rates
Self Employ PEI
Amount: No Fixed Amount Type of Program: Subsidy Description: Self Employ PEI is an employment program developed to help Prince Edward Island job seekers who want to launch their own business. This program provides financial support and business counseling to new entrepreneurs during their first year of operation. Comments on Funding: Each week the applicants
Small Business Assistance
Amount: No Fixed Amount Type of Program: Loan Description: The Small Business Assistance is designed to meet the special needs of Prince Edward Island’s small business community and entrepreneurs for the following purposes: purchase and/or acquisition of business, expansion, debt consolidation, and new construction. It does not provide working capital for the small business sector.
Tourism Financing Assistance
Amount: No Fixed Amount Type of Program: Loan Description: The Tourism Financing Assistance is designed to meet the particular needs of Prince Edward Island tourism operators for the following purposes: purchase of business, expansion, debt consolidation, new construction, and repair or updating of fixed assets. These loans may be used for the purchase of machinery,
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