New Innovation PEI programs for Islanders
Today, Innovation PEI is launching four new programs to support Island businesses.
The programs are:
- Equity Investors Incentive – to provide PEI strategic sector businesses with a tool to attract private sector investment
- Innovation Fund – to assist businesses to bring a new product, service, or process to market
- Small Business Assistance – to increase support to small businesses that serve the local market
- Strategic Improvement Assistance – to improve productivity, profitability and competitiveness in the global market
“We made a commitment to review our Innovation PEI programs to improve our support for Island entrepreneurs, which is especially important now with many local businesses impacted by COVID-19. I want to thank everyone involved in the review and in creating the new programs. Our hope is that these improvements will better serve the needs of the people who run our Island businesses.”
- Economic Growth, Tourism and Culture Minister Matthew MacKay
In addition, all other Innovation PEI programs were reviewed and enhancements were made to some, including an increase to the Capital Acquisition Assistance from $10,000 to $25,000.
Department of Economic Growth, Tourism and Culture