Strategic Improvement Assistance
Strategic Improvement Assistance supports Prince Edward Island businesses undertaking strategic activities to become more productive, profitable and competitive. The program supports costs for outside professional expertise required for projects related to improving operational efficiencies, internal planning or processes, and quality assurance.
Offered by Innovation PEI
Amount
Up to 40 per cent of eligible costs to a maximum of $20,000 in assistance per approved project (up to two applications per business within a twelve-month period, totaling a maximum of $20,000)
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Who can apply
To be an eligible applicant, a business must be located in Prince Edward Island and:
- 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
Strategic Improvement Assistance provides up to 40 per cent of eligible costs to a maximum of $20,000 in assistance per approved project.
Up to two applications per business will be accepted within a twelve-month period, totaling to a maximum of $20,000 in assistance.
The combined project funding from all non-repayable government sources cannot exceed 75% of eligible costs.
Funding may be available for eligible costs for assessment, planning, design, and/or implementation of projects related to operational efficiencies, internal planning or processes, or quality assurance. Eligible costs are primarily the costs to engage outside professional expertise; other costs directly related to the eligible activity may be considered.
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Examples of eligible activities include (this list is representative, not exhaustive):
- exploring/identifying alternative supply chain options
- strategies to improve productivity, quality, food safety, or environmental management;
- a plan to integrate the most effective tools for communications, transactions, operations and management, such as IT, project management and systems integration services and solutions;
- human resource strategies;
- initiatives such as workflow study, production planning, and logistics planning;
- assessment and development of strategies for the integration of renewable/clean energy, energy use reduction, and environmental impact improvements; or
- intellectual property advice, planning and strategy.
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| Small Business Assistance Program | Grant | Up to $5,000 | 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 |
| Food Product Development Assistance | Grant | Up to $50,000 | Open |
| Ignition Fund | Grant, Investment, Competition | Up to $25,000 | Open |
