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Ignition Fund

Grant to a Prince Edward Island Entrepreneur
to Support a Startup Business Venture

Agency Type:

State

Funding Source:

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Innovation PEI

Conf. Date:

06/01/18

Deadline Date:

07/13/18 1:00 PM

Description:

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Grant of up to $25,000 to a Prince Edward Island entrepreneur for startup funds to launch a new business venture. Funding is intended to help an individual turn a business venture idea into a tangible, viable business. The initial funding as an investment is expected to leverage additional funds to support the project. Applicants must ensure that employment agreements allow for participation in this program and for the development of new products and services.

Some activities eligible for support under the Ignition Fund include, but are not limited to:

- Incorporation
- Product development
- Refinement
- Market research
- Intellectual property
- Business development

Applications will be evaluated on the following criteria:

- Experience and capacity of the founders and management team
- Proposed product or service
- Market value and potential uptake
- Business growth

GrantWatch ID#:

GrantWatch ID#: 172869

Number of Grants:

One successful applicant will receive the award.

Estimated Size of Grant:

Up to $25,000

Additional Eligibility Criteria:

Entrepreneurs committed to establishing and operating a new business venture on PEI may apply. The primary applicant must be the founder or majority owner of the business. The product or service developed must have potential to be sold outside Prince Edward Island.

A successful applicant may be eligible for the Skills PEI Self Employ Program and will not be restricted from applying for other Innovation PEI financial supports and services.

A business which has already received an Innovation and Development Labour rebate is not eligible for support from the Ignition Fund.

Pre-proposal Conference:

Free information sessions took place across the province including:

Summerside: 12:00 PM May 28, 2018, Access PEI, 120 Heather Moyse Drive, Summerside PE
Central Bedeque: 3:00 PM May 28, 2018, Rural Action Centre, 106 Linkletter Avenue, Central Bedeque, PE
Alberton: 12:00 PM May 29, 2018 Rural Action Centre, 455 Main Street, Alberton, PE
Wellington: 3:00 PM May 29, 2018 Rural Action Centre, 48 Mill Road, Wellington, PE
Souris: 12:00 PM May 30, 2018 Rural Action Centre, 15 Green Street, Souris, PE
Montague: 3:00 PM May 30, 2018 Rural Action Centre, 540 Main Street, Montague, PE
Charlottetown: 12:00 PM June 1, 2018 Startup Zone, 31 Queen Street, Charlottetown, PE

If you were unable to attend but would like more information on the Ignition Fund, please contact Connor MacPhee using the details below.

Pre-Application Information:

Schedule:

Call for applications: May 16, 2018
Deadline for applications: July 13, 2018 by 1:00 PM
Review complete: August 17, 2018
Pitch sessions: Week of September 3, 2018
Results announced: Week of September 24, 2018

Please note that the Review, Pitch and Results dates may change due to the volume of applications.

Application Submission Instructions:

- Applicants must submit one hard copy and one electronic copy of your submission.
- Applications must be submitted before any financial or legal commitment is made to a project.

Please Note: A matching contribution is not required.

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

Please direct applications or questions regarding the Ignition Fund to Connor MacPhee at the details below:

Connor MacPhee, BBA
Business Development Officer
Email: conmmacphee@gov.pe.ca
Phone: (902) 368-5125

General:

Innovation PEI
94 Euston Street, PO Box 910
Charlottetown, PE C1A 7L9

Telephone: (902) 368-6300
Fax: (902) 368-6301
Toll-Free: 1-800-563-3734

URL for Full Text (RFP):

Geographic Focus:

Canada: Prince Edward Island