LaunchPad offers financial assistance to improve the success rate for start-up companies in Prince Edward Island.
Who is eligible for LaunchPad funding?
A new company starting in Prince Edward Island or established companies from outside the province intending to operate in PEI, which demonstrate the potential to create new jobs and wealth in Prince Edward Island, may be eligible for support.
What activities will LaunchPad support?
LaunchPad aims to improve new business success rate by:
- offsetting operating costs
- providing ongoing business counselling
- offering office rental incentive
- balancing financial risk
If your project is approved, an accepted letter of offer shall constitute a contract between Innovation PEI and the applicant(s).
Should the project fail to comply with the terms of the contract or be discontinued, the Innovation PEI may at its sole discretion:
- declare the applicant to be in non-performance (default) of the contract;
- request the applicant to repay in full the incentive received; and
- take necessary legal action to collect the incentive amount in full with interest.
Application must be submitted before any financial or legal commitment is made on the project.
*This 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.
94 Euston Street, PO Box 910
Charlottetown, PE C1A 7L9
Telephone: (902) 368-6300
Facsimile: (902) 368-6301