Export Enhancement and Diversification Fund
$32,000
Grant
Description:
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.
To support our Island businesses that may face significant challenges resulting from the implementation of tariffs by the USA, Innovation PEI is providing enhanced support for these activities from March 4, 2025, to March 31, 2026.
Comments on Funding:
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.
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.
Continuous Intake
Eligibility:
Applicants must:
1. be registered to do business and actively operate in Prince Edward Island; and
2. be an active exporter or export-ready.
3. A business with a defaulted outstanding debt or obligations with the province is not eligible for Innovation PEI assistance.
Application Steps:
Applicants must 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.
Documentation Needed:
Applicants must submit:
1. detailed description of the business’s activities;
2. description of the proposed project or event;
3. detailed budget or cost outline for the proposed project or event;
supporting documents which may include marketing plan, quotes, or cost outlines;
4. If an existing business, the most recent comparative financial statements*;
5. if a new business, a detailed business plan*;
6. annual sales and export sales;
7. start and end dates of the project or event; and
8. export profile
Other Things to Note:
About the author
Maurice
