All Sectors

Research and Development

Amount:

$750,000.00

Type of Program:

Grants

Description:

The Department of Industry, Energy and Technology offers programs to support research and development projects for both commercial and non-commercial applicants. For commercial applicants, the Department of Industry, Energy and Technology supports projects that reduce the technical and financial risk of research and development projects where R&D is required to realize the commercial potential of innovative products, processes or services. For non-commercial applicants, the Department of Industry, Energy and Technology provides support through non-repayable contributions to academic and research institutions for the development and implementation of research and innovation projects for the long-term economic benefit of Newfoundland and Labrador.

Comments on Funding:

For commercial applicants, the maximum contribution to a project is normally 50% of the total eligible costs.
For non-commercial applicants, the program provides normally up to 50 percent of total eligible costs of a specific project, with a maximum investment of $750,000.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Applicants must:

be commercial,
be non-commercial (academic and research institutions),
propose projects that are technical in nature and lead to an incremental advance of an innovative product, process or service, if they are commercial applicants,
propose projects that must demonstrate industry relevance and have significant potential for economic impact in Newfoundland and Labrador, if they are non-commercial applicants.

Application Steps:

Applicants must submit the completed application form.

Documentation Needed:

No specific documentation has been identified.

Program Contact:

Research and Development

Equity Investors Incentive

Amount:

No Fixed Amount

Type of Program:

Rebate

Description:

The Equity Investors Incentive provides new and expanding businesses in Prince Edward Island with a tool to encourage and attract private sector investment. The program provides a non-repayable incentive to investors to encourage investment in an approved Prince Edward Island-based investee business by increasing the return-on investment to investors.

Comments on Funding:

Funding is in the form of a direct rebate to investors (individuals or companies) and is calculated at up to 20 percent of the purchase price of the equity investment in the investee company. The maximum investors’ rebate for all eligible investors will not exceed $200,000 per approved investee company.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

An eligible investee company must:

be a taxable, private Canadian corporation,
be registered to do business in Prince Edward Island,
have its head office and its primary business operations in Prince Edward Island,
have been in operation in PEI for a minimum of one year,
be a provider of exportable goods or services in one of the following strategic sectors: bioscience, aerospace and defense, advanced manufacturing and processing, renewable energy and clean technology
information and communications technology, creative and cultural industries (first-of-its-kind exportable goods or services in other sectors may be considered),
pay at least 75% of its payroll to employees residing in Prince Edward Island and must have ewer than 50 employees,
have assets less than $10 million,
ensure compliance with securities legislation,
have a well-developed business plan and demonstrate appropriate use of funds raised to support expansion and/or ongoing operations in Prince Edward Island,
not have any defaulted outstanding debt obligation on file in the Government of Prince Edward Island Central Default Registry.

Eligible investors include: any Canadian person, Canadian-controlled private corporation or other Canadian-controlled company that is at arm’s length to the investee company as defined under Section 251 of the Income Tax Act (Government of Canada).

Application Steps:

Applicants:

must submit the online application form,

must accept the letter of offer forwarded to them which shall create a contract between Innovation PEI and the applicants.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

Equity Investor Incentive Guidelines will be available soon upon approval.

Program Contact:

Equity Investors Incentive

Innovation Fund

Amount:

$50,000.00

Type of Program:

Grants

Description:

The Innovation Fund assists businesses to bring a new product, service, or process (“product”) to market by providing financial support for the costs to refine and commercialize an innovative product that has demonstrated potential for export market uptake.

The Innovation Fund has two streams:

1
The New Product stream can support the transition from a demonstrated beta/pilot/prototype product to the final stage refinements for scale-up and full commercial development of the product.
2
The Product Diversification stream can support the adaptation of an existing product for a new market segment, where refinement and enhancement changes are required to function in a new geographical area, vertical or industry (to adjust to different requirements, such as regulatory/legal, business environment, industry requirements, culture, etc.).

Comments on Funding:

The Innovation Fund provides up to 50 per cent of eligible costs to a maximum of $50,000 in assistance per approved project. The Innovation Fund may be accessed once per product; the business should consider the stage at which the support will be most beneficial.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

be registered to conduct business and actively operating in Prince Edward Island,
export products that it manufactures, processes, or develops,
operate within one of these strategic sectors: bioscience, aerospace and defence, advanced manufacturing and processing, renewable energy and clean technology, information and communications technology, creative and cultural industries (first-of-its-kind exportable goods or services in other sectors may be considered),
not have a defaulted outstanding debt obligation on file in the Province’s Central Default Registry.

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,

must submit their application forms to be reviewed by Innovation PEI before any financial or legal commitment is made on the project,

must accept the letter of offer forwarded to them which shall create a contract between Innovation PEI and the applicants.

Documentation Needed:

The applicant must submit:

1
the online application form,
2
a description of the business and an outline of its history,
3
detailed Financial Statements for the previous two years, if existing business,
4
a completed business plan, if a new businesses,
5
a description of the proposed project or activity in relation to the products and/or services delivered by the business,
6
a detailed description of the economic benefits to the organization and to Prince Edward Island,
7
detailed information on the estimated costs of the proposed project or activity,
8
source of funds for the project,
9
explanation of the business's current market position and projected market, outlining any increases in market share,
10
a list of all shareholders and key management personnel.

Other Things to Note:

No other details available.

Program Contact:

Innovation Fund

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.

Other Things to Note:

No other details available.

Program Contact:

LaunchPad | Government of Prince Edward Island

Façade Improvement Program

Amount:

$3,000.00

Type of Program:

Grants

Description:

The Façade Improvement Program provides funding to improve the overall attractiveness of the City of Miramichi’s Business Improvement Areas as a shopping and business destination and to assist in attracting and retaining tenants in the Downtowns by providing assistance to commercial property owners within the BIA’s to address issues relating to building facades in the designated area.

Comments on Funding:

The funding is up to 50% of the total improvement costs up to a maximum of $3,000.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

The applicant must be the commercial property owner.

Application Steps:

contact the City of Miramichi, Department of Economic Development & Tourism to discuss the program and determine pre-eligibility,

complete a signed Application form provided by the Department including all necessary supporting documentation as required on the application.

Documentation Needed:

Applicants must submit:

1
the completed application form,
2
a complete project description,
3
a detailed project budget,
4
contractor quotes,
5
detailed plans (site plan, floor plans, façade details, etc.),
6
pictures,
7
planning permit (if required),
8
copy of most recent property assessment notice from service NB,
9
construction schedule (start and finish date),

Other Things to Note:

Grants will be available until the budgeted amount of this program has been depleted for any calendar year.

Program Contact:

City of Miramichi - Municipal Grants

Development-Incentive-E.pdf