Export Trade Assistance

By mmuise
Description:

The Export Trade Assistance provides a grant to active exporters and export ready companies on Prince Edward Island. Support may be available for Innovation PEI’s Global Trade coordinated trade activities, including virtual trade initiatives, focused on international and domestic exporting; and bringing buyers and business partners to Prince Edward Island to strengthen business relationships or close sales.


Comments on Funding:

Funding for travel related activity is up to 40% of pre-determined eligible costs for participation in approved Innovation PEI Global Trade coordinated trade activities, including outbound trade missions and trade shows. Funding for virtual trade activity is up to 40% of pre-determined eligible costs, to a maximum Innovation PEI contribution of $3,000, to assist a business to prepare for and participate in Innovation PEI Global Trade coordinated activities within the virtual trade environment resulting from COVID-19. Funding for incoming buyers assistance is up 75% of pre-determined eligible costs, to a maximum Innovation PEI contribution of $3000, to bring a qualified buyer/partner to the province for a facility visit or familiarization tour.

Deadline: Continuous Intake
Eligibility:

Applicants must:

  • be active exporters and export ready companies,
  • be registered to conduct business and actively operating in Prince Edward Island,
  • export products and/or services that they manufacture, process, or develop primarily for export,
  • operate within one of these strategic sectors: bioscience, aerospace and defence, advanced manufacturing and processing, food, seafood, beverage processors/manufacturers, renewable energy and clean technology, information and communications technology, professional services and creative and cultural industries, (First-of-its-kind exportable services in other sectors may be considered),
  • not have a defaulted outstanding debt obligation on file in the Province’s Central Default Registry.
Application Steps:

Applicants:

1. are encouraged to consult with an Innovation PEI Trade Development Officer for guidance on the suitability of the project and the application process, 2. must submit their application forms to be reviewed by Innovation PEI before any financial or legal commitment is made on the project,

Documentation Needed:

The applicant must submit: 1. the online application form, 2. a description of the business and an outline of its history, 3. annual sales and market details, 5. a description of the proposed project or activity in relation to the products and/or services delivered by the business, 6. a detailed description of the economic benefits to the organization and to Prince Edward Island, 7. detailed budget of estimated costs of the proposed project or activity (cost estimates should be supported by written quotations), 8. export details i.e. per cent of business is export, largest export markets (3), markets of interest.

Other Things to Note:

Incoming Buyers Assistance program became part of this program.

About the author
mmuise