Startups

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 and terms for leased space in a PEI business park (500-10,000 square feet).

Comments on Funding:

Funding is a maximum one-year rental subsidy up to $6.00 per square foot (excluding utilities, taxes, inside maintenance, etc.), payable on a monthly basis.
Lease space may be available in an Innovation PEI owned facility: Lease terms up to five (5) years; base rate is $6.00 per square foot (excluding utilities, taxes, inside maintenance, etc.)

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

be registered to do business and actively operating in Prince Edward Island,
manufacture, process, or provide exportable services in one of the following sectors: aerospace and defense, advanced manufacturing and processing, information and communications technology, bioscience, renewable energy and clean technology, creative and cultural industries, (First-of-its-kind exportable services in other sectors may be considered),
propose a project that provides economic benefit to the province,
not have a defaulted outstanding debt obligation on file in the Province’s Central Default Registry.

Retail and consumer services businesses are not eligible for assistance through this service.

Application Steps:

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.

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:

Rental Incentive Assistance

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 receives a weekly living allowance or EI benefits, or a combination of the two. He may also be eligible for a $1,000 consulting grant.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

be job seeker who wants to launch his own business,
be legally authorized to work in Canada (Canadian citizen or permanent resident),
have a current claim for Employment Insurance benefits, or
have a previous EI claim whose benefit period ended within the previous 60 months, or
be an unemployed person who paid, in at least 5 of the last 10 years, employee's premiums that did not entitle the person for a refund (i.e.. If the person made less than $2000 in earnings in a year, any EI premiums that they would have paid, would be reimbursed),
not currently be operating his own business.

Application Steps:

The applicant must:

attend and Information Session about the program,

set up a time to meet with a Program Officer/Case Manager to complete a needs assessment and develop a Return to Work Action Plan,

submit the Self Employ PEI application with his business plan and proof of financing.

Applicants must not have started the operation of the proposed business before submitting an application for the program.

Documentation Needed:

The applicant must submit:

a Return-To-Work Action Plan,
the Self Employ Suitability Assessment questionnaire,
the Self Employ PEI Application for funding,
a detailed business plan,
proof of investment or financing,
his Resume.

Program Contact:

Self Employ PEI

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:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants must:

be entrepreneurs/companies who have previously received & successfully completed Catalyst Funding or PDC programming and who are invited to apply,
reside in New Brunswick or Prince Edward Island (subject to discretion of PDC Executive Board). In the case of corporations, the majority of shareholders must reside in the eligible province and the registered office must be in the eligible province. In the case of partnerships, the majority of partners and ownership must reside in the eligible provinces.
focus on the following key priority areas: Health & Wellness, Immigration & Retention, Poverty Reduction,
have completed early-stage market validation,
have developed preliminary business model canvas.

For entrepreneurs who qualify for other PDC programs, all or part of the Ignition Funding might be connected to acceptance and successful participation in these programs.

Application Steps:

Applicants:

must submit the online application form,

who have been short-listed will be notified by email and will be contacted for an appointment to discuss next steps and preparation for a pitch presentation with the Funding Committee which will make the final decision on the funding application,

will be asked to submit proof of residency for the company/entrepreneur, if successful.

Once due diligence is completed, a Letter of Award and Terms & Conditions Contract will be issued.

Documentation Needed:

Applicants must submit:

the online application form,
proof of residency for the company/entrepreneur, if the application is successful.

Other Things to Note:

The ChangeMaker Funding Program is NOT about the funding. While the funding helps early-stage entrepreneurs and innovators test ideas and build sustainable business models, this program is designed to help build success through providing on-going support and opportunities.

The fail forward applicants are entrepreneurs and innovators who have experienced the failure of an idea or venture and they are ready to do an overhaul or pivot, or have an entirely new idea and are passionate about building a sustainable business. They are courageous entrepreneurs, whose ideas, dreams or ventures have failed (usually at least 4-6 months previously), who have learned from the experience, and who are committed to starting over.

Program Contact:

Ignition Funding

FAQs - Funding Awards

ChangeMaker Funding Program – Saint John Internship Fund

Amount:

$2,000.00

Type of Program:

Grants

Description:

The Saint John Internship Fund is designed to help early-stage entrepreneurs & companies at pilot sites in Saint John employ Student (including SAP) Interns to assist with market validation, market research, business innovation & development within an experiential learning plan.

Comments on Funding:

Funding is up to $2,000.
Applicants are only eligible to be awarded total Catalyst Funding and Saint John TGF to a maximum of $5,000.
Funding awards are taxable.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants must:

be early-stage entrepreneurs & companies at pilot sites in Saint John that employ Student (including SAP) Interns to assist with market validation, market research, business innovation & development within an experiential learning plan,
be resident in the Saint John region,
not be an immediate family member of the employer (spouse, children, parents, brother, sister), nor can they be an officer or director of the organization or a member of their immediate families, if interns,
focus on the following key priority areas: Health & Wellness, Immigration & Retention, Poverty Reduction,
be invited to apply.

Internships must be in accordance with all Provincial and Federal Acts and Regulations.

Application Steps:

Applicants must submit the online application form.

Once due diligence is completed, a Letter of Award and Terms & Conditions Contract will be issued.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

Program Contact:

Saint John Internship Fund

ChangeMaker Program

Application-Saint John Internship Fund

FAQs for Funding Awards

CBDC Self Employment Assistance (SEA)

Amount:

No Fixed Amount

Type of Program:

Grant, In-Kind Support

Description:

The Self Employment Assistance (SEA) Program is designed to help participants in Atlantic Canada continue to receive their Employment Insurance benefits while going through the process of launching a new business. The program assists eligible individuals with qualified businesses concepts with planning and starting of a new business or takeover of an existing business. An income grant is provided during the first year. Business counseling is provided in both start-up and operation.

Comments on Funding:

Funding takes the form of coaching, on-going technical advice and financial support for a maximum of 52 weeks.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants must be unemployed and:

have a current Employment Insurance Claim; or
have had an Employment Insurance benefit that ended within the last three years; or
have had established a benefit period within the past five years prior to the date of requesting assistance, were paid parental or maternity benefits, and are re-entering the labour force after having left it in order to care for a newborn or newly adopted child,
be individuals with qualified businesses concepts,
other criteria may apply.

Application Steps:

Applicants must contact CBDC Central for further details.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

No other details available.

Program Contact:

Self Employment Assistance