LaunchPad

Overview of the LaunchPad program:

LaunchPad PEI is a non-profit incubator managed by Innovation PEI that supports the growth of innovative companies in Prince Edward Island. LaunchPad PEI is a designated incubator for the Start-up Visa Program and engages a network of partners to offer access to a Business Development Officer, office and/or laboratory space, and other services to assist local and immigrant entrepreneurs to overcome challenges in PEI.

Benefits of the LaunchPad program:

• What activities and costs are supported?
• An eligible business may access support for eligible costs related to (this list is representative, not exhaustive):
• Offsetting operating costs;
• Providing ongoing business counselling;
• Offering office rental incentive; and
• Balancing financial risk.

Eligibility criteria of the LaunchPad program:

• To be an eligible applicant, the business must:
• Be a new business starting in Prince Edward Island OR an established business from outside the province intending to actively operate in Prince Edward Island;
• Demonstrate the potential to create new jobs and wealth in Prince Edward Island; and
• Operates within one of these strategic sectors:
• Advanced manufacturing and processing;
• Aerospace and defence;
• Bioscience;
• Information and communications technology;
• Renewable energy and clean technology; and
• First-of-its-kind exportable goods or services in other sectors may be considered such as:
• Battery storage;
• Financial technology (FinTech);
• Healthcare technology; and
• Biotechnology.
• A business that has a defaulted outstanding debt obligation on file in the Provinces Central Default Registry is ineligible for assistance from Innovation PEI.