Trade Mission Support
The Trade Assistance helps your Prince Edward Island small business to explore new business opportunities by participating in coordinated outbound trade missions and trade shows focused on international exporting (in-market business to business missions, trade shows and investigation/ research).
The project must provide economic benefit to the province and cannot jeopardize similar businesses.
Who is eligible for Trade Assistance funding?
A company (sole proprietorship, partnership, cooperative or limited liability) is eligible for funding if it has a well-developed business and marketing plan and manufactures, processes, or provides exportable services in one of the following sectors:
- food development
- diversified advanced manufacturing
- information technology
- professional services
- first-of-its-kind exportable services in other sectors may be considered
Retail and consumer services businesses are not eligible for assistance through this fund.
New project submissions from an applicant in default on any reporting, project completion or financial obligation to Innovation PEI will not be reviewed until a resolution to the default is reached.
What level of assistance is available?
Up to 40 per cent of pre-determined eligible costs associated with participation in approved activities including travel, accommodation and per diem food expenses.
What criteria are used to evaluate funding applications?
Not all projects meeting the minimum criteria will receive funding. Applications will also be evaluated using the following considerations:
- potential for long-term viability
- export sales potential
- qualifications and track records of managers
- cost benefit to the province
- availability of assistance funds
- employment creation
- level of assistance from other government programs offered or available
The Trade Assistance will be monitored for a two-year period. In addition to yearly financial statements, applicants must be prepared to provide information, as requested, on the ongoing activities of the business.
If your project is approved, the 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, Innovation PEI may, at its sole discretion:
- declare the applicant to be in nonperformance (default of the contract)
- request the applicant to repay in full the incentive received
- take necessary legal action to collect the incentive amount in full with interest.
* Contact for application information. 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.
General Contact Information
94 Euston Street, PO Box 910
Charlottetown, PE C1A 7L9
Telephone: (902) 368-6300
Facsimile: (902) 368-6301