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Financial Supports & Services

Innovation PEI offers a variety of financial supports and services to business development in Prince Edward Island. Business development professionals are available to help determine which supports and services are best for your business.

The following information is provided for information purposes and is not comprehensive and reflective of all Innovation PEI policies.  Not all projects meeting the minimum assistance criteria outlined will receive funding.  Please consult with an Innovation PEI staff member for guidance specific to your company's situation.

Core Programs

Advanced Marine Technology Tax Assistance With the success of the marine technologies companies in Prince Edward Island, a cluster development initiative took place within the sector.

Aerospace and Defence Tax Holiday
gives aerospace and defence related companies a corporate tax exemption.

Bioscience Tax Holiday gives bioscience companies a corporate tax exemption.

Capital Acquisition Assistance covers the cost of buying equipment, renovations and/or lease improvements.

Craft Development Assistance helps craftspeople develop their craft into a business opportunity.

Enriched Investment Tax Credit helps manufacturing and processing companies invest in capital items.

Futurpreneur Canada is administered by Innovation PEI as a community partner.

Human Resources Planning helps companies with the costs to hire a consultant to develop a human resource action plan.

Human Resources Implementation Assistance helps companies with the costs to hire a consultant to action the human resource plan.

Incoming Buyers Assistance  helps bring potential Canadian buyers and business partners to the province.

Information Technology Planning Assistance helps companies with the costs to hire a consultant to develop an information technology plan.

Information Technology Implementation Assistance  covers the costs needed to action the information technology plan.

Innovation and Development Labour Rebate can help pay for specialized staff needed to develop new products, processes and services.

LaunchPad is a subsidized space where new companies can have an office space to meet clients and do business.

Live Lobster Holding Assistance is designed to address capacity issues and to manage the market supply of live and processed lobsters on PEI. 

Marketing Support Assistance helps companies pay for marketing activities related to expanding and/or developing markets for their products and/or services.

Product Development Assistance is available to Prince Edward Island companies to access professional and technical assistance when developing or improving a new food product or process.

Productivity Improvement Assistance helps companies with the costs to hire a productivity professional to improve processes within their business.

Professional Services Assistance helps cover the cost of hiring a professional to develop/finalize a business or marketing plan, as well as train management in new skills that will help manage the business better. 

Publishing Assistance helps publishers in the production and presentation of their literary works.

Quality Improvement Support covers the cost for companies to hire a professional to create a quality improvement program or a quality education program for staff.

Rental Incentive Assistance can subsidize the cost of renting business space.

Share Purchase Tax Credit can provide a tax rebate to a person who invests in a PEI company.

Specialized Labour Tax Credit helps companies hire staff with specialized training and skills.

Trade Assistance helps businesses participate in trade missions and trade shows.

Web Presence Assistance helps cover the cost of having a website developed.

Innovation Programs (competition based)

Development and Commercialization Fund assists new and existing businesses with final stage product refinements and commercialization costs in developing a new product, service or process.

Graduate and Post-Doctoral Fellowship Fund is designed to support and develop highly skilled researchers in the strategic sectors while they gain research experience on industry relevant projects. 

Ignition Fund is a competition for entrepreneurs seeking startup funding. Applicants will compete for capital awards to start and grow their business venture.

Pilot and Discovery Fund supports new and existing businesses with the initial stages of developing a innovative new products, services or processes in the strategic sectors.

Other provincial government economic development partners:
Finance PEI
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