Capital Acquisition Assistance
Capital Acquisition Assistance supports Prince Edward Island businesses investing in technology, equipment, and infrastructure needed to grow their business and increase capacity and competitiveness. The program provides businesses with financial assistance to leverage other traditional and non-traditional financing and reduce risk.
Offered by Innovation PEI
Amount
Up to $25,000
Up to 25 per cent of the eligible costs to a maximum of $25,000 assistance (combined non-repayable government funding cannot exceed 75 per cent of eligible costs)
Quick eligibility check
Who can apply
To be an eligible applicant, a business must be located in Prince Edward Island and:
- be registered to conduct business and actively operating on Prince Edward Island;
- manufactures, processes, or develops goods or services primarily for export;
- operates within one of these strategic sectors:
- bioscience
- aerospace and defence
- advanced manufacturing and processing
- renewable energy and clean technology
- information and communications technology
- creative and cultural industries
- first-of-its-kind exportable goods or services in other sectors may be considered.
The project must provide economic benefit to the province of Prince Edward Island.
About the funding
The program provides up to 25 per cent of the eligible costs to a maximum of $25,000 assistance.
The combined project funding from all non-repayable government sources cannot exceed 75 per cent of eligible costs.
Eligible capital acquisitions may include machinery/equipment, renovations or leasehold improvements directly related to the establishment of a new business or the expansion of an existing business.
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| Small Business Investment Grant | Grant | Up to $3,750 | Open |
| AgriScience Program – Projects | Grant, In-Kind Support | Up to $5 million per project and $10 million per applicant over the program's duration (2023 to 2028) | Open |
| Poultry and Egg On-Farm Investment Program | Grant | Non-repayable contributions of up to 70% of eligible project costs (up to 85% for young producers), limited to each producer's maximum funding amount based on their share of provincial quota/production | Open |
| Ignition Fund | Grant, Investment, Competition | Up to $25,000 | Open |
