Export Enhancement and Diversification Fund

Overview of the Export Enhancement and Diversification Fund program:

The Export Enhancement and Diversification Fund is a provincial initiative designed to strengthen the exporting capacity of Prince Edward Island businesses by encouraging market development and expansion outside of the province. The fund offers financial support to offset costs related to exploring and establishing new export markets. This includes funding for marketing initiatives, participation in trade shows and missions, development of export plans, translation of marketing materials, and hiring of short-term export-related expertise. The program aims to empower small and medium-sized enterprises (SMEs) with tools and funding to compete globally, adapt products for foreign markets, and connect with international buyers. The support covers activities that directly contribute to developing new international or interprovincial markets for PEI-based products and services. It reflects PEI’s broader economic development strategy to increase exports and create sustainable growth opportunities for local businesses. Eligible applicants may receive support for both planning and execution phases of export initiatives, with preference for those entering new markets or expanding current market reach significantly.

Benefits of the Export Enhancement and Diversification Fund program:

• Financial support covering up to 40% of eligible export development costs.
• Support for participation in international trade shows, missions, and events.
• Assistance for translating marketing materials to foreign languages.
• Funding for hiring short-term experts or consultants for export strategy development.
• Help with creating or enhancing export marketing strategies.
• Opportunity to develop new markets or expand into underutilized ones.
• Encouragement of innovation and competitiveness in global trade.

Eligibility criteria of the Export Enhancement and Diversification Fund program:

• To qualify for the Export Enhancement and Diversification Fund, applicants must meet the following criteria:
• Must be a Prince Edward Island-based business.
• Must be registered and active in the province.
• Should be a for-profit entity, although not-for-profits may be considered if they directly support PEI exporters.
• Demonstrate an ability to execute and finance the proposed export initiative.
• Projects must aim at new market development or significant expansion in existing markets.
• Applicants must not start or pay for project activities prior to receiving formal approval from Innovation PEI.
• Activities already funded by other provincial or federal programs may not be eligible unless combined funding does not exceed eligible cost thresholds.