Export Enhancement and Diversification Fund

The Export Enhancement and Diversification Fund helps Prince Edward Island exporters and export-ready businesses with marketing and trade costs to execute export plans and activities to explore new global export opportunities to diversify and enhance their business. 

Who is eligible for the Export Enhancement and Diversification Fund?

To be an eligible applicant, a business must:  

• be registered to do business and actively operate in Prince Edward Island; and 
• be an active exporter or export-ready. 

A business with a defaulted outstanding debt or obligations with the province is not eligible for Innovation PEI assistance. 

What level of assistance is available? 

Marketing activities and independent trade shows and events: 

Up to 60 per cent of pre-determined eligible costs, to a maximum Innovation PEI contribution of $32,000. A business may submit multiple applications over the 12 months, but the total combined Innovation PEI contribution will not exceed $32,000.  Eligible activities include (this list is representative, not exhaustive): 

• market research; 
• design, development and implementation of new advertising and promotional materials;  
• development of e-commerce or digital strategies;  
• market investigation; and  
• attendance at appropriate trade shows and events identified by the business, for up to two participants per event. View eligible costs list here. 

Trade Mission Support: 

• Up to 60 per cent of pre-determined eligible costs for participation on an approved Innovation PEI coordinated trade event (limited to 2 representatives per business).   
• Up to 60 per cent of pre-determined eligible costs, to a maximum Innovation PEI contribution of $3,000, to assist a business to prepare for, and participate in, the virtual trade environment (limited to 2 representatives per business).  

Incoming Buyers Assistance: 

• Up to 75 per cent of pre-determined eligible costs, to a maximum Innovation PEI contribution of $3,000, to bring a qualified buyer/partner to the province for a facility visit or familiarization tour.  

The combined project funding per application from all non-repayable government sources cannot exceed 90 per cent of eligible costs.   

What criteria are used to evaluate funding applications? 

Eligible businesses that submit complete applications will be reviewed on a first-come, first-served basis.  An application is considered to be complete and received when all required information has been submitted to Innovation PEI. 

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; 
• qualifications and track records of managers; 
• economic benefit to the province; 
• availability of program funds; 
• employment creation; and 
• level of assistance from other government support offered or available. 

Innovation PEI reserves the right to deny a grant application or request for payment if it suspects or detects fraudulent intent. 

Performance Monitoring 

If an application is approved, Innovation PEI will require acceptance of the terms and conditions of approval. This will constitute a contract between Innovation PEI and the applicant.  

For travel related events, the Post Mission Survey must be received within 5 business days of the event’s end date. 

How do I apply?  

Innovation PEI encourages potential applicants to consult with an Innovation PEI for guidance on the suitability of their project or event. If the project is not a good candidate for the Export Enhancement and Diversification Fund, Innovation PEI may recommend alternative funding programs that may be more suitable.  

An application must be submitted before any financial or legal commitment is made on the project.  

What do I need to apply? 

To complete the application, be prepared to provide detailed business information and supporting documents including: 

• detailed description of the business’s activities;   
• description of the proposed project or event;  
• detailed budget or cost outline for the proposed project or event; 
• supporting documents which may include marketing plan, quotes, or cost outlines;
• annual sales and export sales;
• start and end dates of the project or event; and  
• export profile.