Apply for Information Technology Implementation Assistance
The Information Technology Implementation Program contributes funds toward the cost of implementing the new IT strategies recommended through the Information Technology Planning Program or a similar assessment. This new technology should make your company more productive, profitable and competitive.
Am I eligibile?
This support is available to new and existing, Island-based, non-IT companies with well-developed export oriented business and marketing plans (sole proprietorship, partnership, cooperative or limited liability).
What activities will this support?
Activities that lead to incremental wealth creation in priority sectors will be considered for financial assistance. Eligible activities include the following:
- hardware and software acquisition
- computer, network and peripheral equipment
- commercial off-the-shelf or custom software
- commerce / e-business solutions development
- project management and systems integration services
How do we help you?
This assistance will contribute up to 40 per cent of the cost of implementing a new IT system. The eligible costs must not exceed $40,000.
How do we decide who receives help?
Not all projects meeting the minimum criteria will receive funding. Applications will also be evaluated using the following considerations:
- potential for long-term viability
- employment creation
- export sales
- environmental impact
- level of assistance from other government supports offered or available
- cost benefit to the province
- manager qualifications and track record
- import substitution
- availability of assistance funds
The Information Technology Implementation assistance requires monitoring for three years. In addition to yearly financial statements, you must be able to offer information, on the ongoing activities of the business.
If your project is approved, a signed letter of offer shall complete a contract between Innovation PEI and yourself.
Should your 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 non-performance (default) of the contract
- request the applicant to repay the contribution in full
- 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.
What do I need to apply for this service?
You should be prepared to provide the following:
- Business Plan Marketing Plan Project
- Feasibility or Market Study
- Competitive Analysis
- If the application concerns a study, please provide the consultant’s proposal(s) and the study’s terms of reference. (Costs should be supported by written quotations.)
What other information do I need to know before I fill in the application?
- Outline the history and description of your business.
- Existing businesses are required to provide detailed Financial Statements for the previous two years.
- New businesses and businesses planning expansions are required to submit complete business plans.
- List all shareholders and key management personnel.
- Describe the proposed project or activity in relation to the products and/or services delivered by your company.
- Describe the economic benefits to your organization and to Prince Edward Island.
- Provide detailed information on the estimated costs of the proposed project or activity. (Cost estimates should be supported by written quotations.)
- Outline all financial sources and provide appropriate contact information. (For example, lending institutions, banks, government loans and/or grants).
- Describe the size and capacity of your existing facility in relation to the proposed activity.
- Explain your current market position and identify your projected market outlining any increases in market share.
*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.