Atlantic Canada Business Grants

Incubator

LaunchPad

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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:

1

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

2

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

Seed Grant Fund

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Amount:

$25,000.00

Type of Program:

Grants

Description:

The Seed Grant Fund provides a non-repayable grant of up to $25,000 to high-growth potential entrepreneurs in the Greater Fredericton Region. Funding can be used for prototyping, product and client validation and market entry activities.  

Comments on Funding:

Funding is up to $25,000.
Limited funding is available on an annual basis.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

  • Applicants must be high-growth potential entrepreneurs in the Greater Fredericton Region.

Application Steps:

1

Entrepreneurs are encouraged to contact Planet Hatch's Business Startup Specialist, Oriana Cordido, at info@planethatch.com to assess their eligibility for the fund.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

Planet Hatch operates a Seed Grant Fund, funded by the Province of New Brunswick.

Program Contact:

Planet Hatch: Funding

Impact Loan

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Amount:

$25,000.00

Type of Program:

Loan

Description:

The Impact Loan program provides up to $25,000 in working capital for startups and expansion projects for entrepreneurs in the Greater Fredericton Region. 

Comments on Funding:

Funding is a $25,000 repayable loan.
Typical repayment terms are between 12 and 60 months, with low interest rates and no penalties for early repayment. Interest rates begin at prime plus 2%.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

  • Applicants must be startups in the Greater Fredericton Region. 

Application Steps:

Applicants must:

1

complete the Impact loan application online, or by contacting the partner organization delivering the loan in their area.

2

provide other documents and the permission to conduct a credit check, at the request of their Loans Officer.

3

complete the legal documents, if approved.

Documentation Needed: 

Applicants must:

  • complete the Impact loan application. For the initial application the following information is required: personal contact details, personal assets and liabilities, a description of the business, any current business assets and liabilities, listing of principal owners, and projected business start-up (or expansion) costs and sources of financing.
  • a copy of your business plan, resume, driver’s license, projected financial statements, answers to additional questions, and permission to conduct a credit check, at the request of their Loans Officer.

Other Things to Note:

No other details available.

Program Contact:

Planet Hatch: Funding

FAQ | Impact Atlantic