Ignition Fund Program

Overview of the Ignition Fund Program program:

The Ignition Fund provides financial support to entrepreneurs and businesses on Prince Edward Island that are looking to launch or expand an innovative product or service. The fund focuses on early-stage companies with high potential for growth and scalability. Through this program, successful applicants receive financial assistance to help cover the costs associated with developing, commercializing, and scaling their business idea. The grant encourages a wide range of innovation across different sectors, from technology and manufacturing to agriculture and the creative industries, providing entrepreneurs with an opportunity to build their businesses within PEI and contribute to the province’s economic development. Applicants must demonstrate a viable business idea, a strong market opportunity, and a potential for growth within PEI.

Benefits of the Ignition Fund Program program:

• Financial Support: Up to $25,000 in funding to help cover startup costs and business development activities.
• Encourages Innovation: Supports new and innovative products, services, or technology that have the potential to create value and drive economic growth in PEI.
• Business Development: Helps entrepreneurs develop their ideas, build prototypes, implement marketing strategies, and move toward commercialization.
• Supports a Range of Sectors: Open to diverse industries, including technology, agriculture, manufacturing, creative industries, and others.

Eligibility criteria of the Ignition Fund Program program:

• To qualify for the Ignition Fund:
• The applicant must be a resident of Prince Edward Island or a business registered and operating in PEI.
• The business must be at an early stage and have the potential for innovation, market readiness, and economic impact within the province.
• The idea or product should demonstrate a clear business opportunity, a scalable model, and a strong potential for commercialization.
• Applicants should not have received previous Ignition funding for the same business idea or project.