Start-up businesses can apply to Ignition Fund

Applications are now open for Innovation PEI’s 2022 spring Ignition Fund competition, which offers up to $25,000 to launch or expand a business in Prince Edward Island.

Beth Wigmore, a previous recipient of the Ignition Fund, says the fund has given her the ability to turn her business from an idea into a reality.

“With the seed money awarded to LĒNA through Innovation PEI, we have been able to invest more resources into research and development, as well as hire an Island-based developer,” says Wigmore.

The Ignition Fund is a competitive based fund for entrepreneurs seeking start-up capital for a new innovative business venture or to develop and launch a new product. Applicants must be committed to establishing and operating a new business in this province. Projects will be judged on their innovation and potential economic impact for Prince Edward Island.

Applicants are encouraged to discuss their projects with an Innovation PEI Business Development Officer or attend one of the information sessions. Information on the sessions and how to apply can be found at: Ignition Fund. The deadline for applications is Monday, May 2, 2022.

“We know this kind of support is crucial to help new and expanding businesses take that next step in their company. We encourage entrepreneurs to take advantage of this opportunity and apply for the Ignition Fund today.”

- Economic Growth, Tourism and Culture Minister Matthew MacKay

The Ignition Fund is one way the provincial government supports entrepreneurs with new ideas, together with the Startup Zone, Launch Pad, micro loans, and others.

Media contact:
Hillary MacDonald
Department of Economic Growth, Tourism and Culture

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