Atlantic Canada Business Grants

Closed for 2019

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 applicant.
A matching contribution is not required. 

When It Ends:

Closed

Deadline:

2022 dates to be announced

Eligibility:

The applicant must:

  • be entrepreneurs committed to establishing and operating a new business venture on PEI,
  • at least one applicant/shareholder must be a Canadian resident or have permanent residency and living in PEI, 
  • develop a product or service with potential to be sold outside Prince Edward Island,
  • not have already received an Innovation and Development Labor rebate,
  • not have a defaulted outstanding debt obligation on file in the Province’s Central Default Registry.

Application Steps:

1

submit an application to Innovation PEI, 

2

pitch their idea to the evaluation committee and participate in the question and answer session, if selected.

Documentation Needed: 

Applicants must submit an application to Innovation PEI, consisting of:

  • an overview of the proposed idea including competitive advantages and disadvantages, innovation, and market need,
  • a description of the founders and management team, 
  • a market analysis that clearly defines the target market, sales and marketing strategy, level of competition and advantage over it, and their revenue model,
  • a statement of work outlining the development of work over the next year including milestones and timeline,

Other Things to Note:

A successful applicant may be eligible for the Skills PEI Self Employ Program and will not be restricted from applying for other Innovation PEI financial supports and services.

Program Contact:

Ignition Fund