Ignition Fund
The Ignition Fund is a competitive-based fund for entrepreneurs seeking startup capital for a new innovative business venture or to develop and launch a new innovative product. The fund invests seed capital that will allow successful applicants to turn their ideas into a tangible and viable business.
Offered by Innovation PEI
Amount
Up to $25,000
Up to $25,000 to each successful applicant; a matching contribution is not required
Quick eligibility check
Who can apply
To be eligible to apply:
- projects must be committed to establishing and operating on PEI;
- the product or service developed must be innovative or unique and have strong export potential; and
- the project must not have already received a PEI Labour Rebate from Innovation PEI;
New project submissions from an applicant in default on any reporting, project completion or financial obligation to Innovation PEI will not be reviewed until a resolution to the default is reached.
Applicants must ensure that employment agreements allow for participation in Ignition and the development of new products and services.
About the funding
Innovation PEI will award up to $25,000 to each successful applicant. A matching contribution is not required.
The fund can support activities associated with the start-up of the proposed business or product development costs. Some activities eligible for support under the Ignition Fund include, but are not limited to:
- professional and consulting services (i.e. incorporation, legal services, etc.);
- product development and refinement;
Show all funding details
- marketing and market research;
- intellectual property;
- business development; and
- capital purchases.
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