Type of Program:
Strategic Improvement Assistance supports Prince Edward Island businesses undertaking strategic activities to become more productive, profitable and competitive.
Comments on Funding:
Strategic Improvement Assistance provides up to 40 per cent of eligible costs to a maximum of $20,000 in assistance per approved project. Up to two applications per business will be accepted within a twelve-month period, totaling to a maximum of $20,000 in assistance. The combined project funding from all non-repayable government sources cannot exceed 75% of eligible costs.
When It Ends:
The applicant must:
is encouraged to consult with an Innovation PEI Business Development Officer for guidance on the suitability of the project and the application process,
must submit the completed application form before any financial or legal commitment is made on the project,
must accept the letter of offer forwarded to him which shall create a contract between Innovation PEI and the applicant.
The applicant must submit:
- 1the online application form,
- 2a description of the business and an outline of its history,
- 3detailed Financial Statements for the previous two years, if existing business,
- 4a completed business plan, if a new businesses,
- 5a description of the proposed project or activity in relation to the products and/or services delivered by the business,
- 6a detailed description of the economic benefits to the organization and to Prince Edward Island,
- 7detailed information on the estimated costs of the proposed project or activity,
- 8source of funds for the project,
- 9explanation of the business's current market position and projected market, outlining any increases in market share,
- 10a list of all shareholders and key management personnel.
Other Things to Note:
No other details available.