Strategic Improvement Assistance

Overview of the Strategic Improvement Assistance program:

The Strategic Improvement Assistance program of the Innovation PEI is a funding opportunity granted to business owners in Prince Edward Island undertaking strategic activities in order to improve and expand the efficiency of their business. The program covers funding of up to a maximum of $20,000 for different activities which can include but not limited to professional expertise costs, trainings, or workshop that can improve daily operational efficiencies and internal planning or processes.

Benefits of the Strategic Improvement Assistance program:

• The program can cover up to 40 per cent of their eligible costs to a maximum of $20,000 per approved project. Business can be granted up to two applications within a twelve-month period, both with a total financial assistance amounting to $20,000.

Eligibility criteria of the Strategic Improvement Assistance program:

• Not all projects meeting the minimum criteria will receive funding. Applications will also be evaluated on factors that include:
  • The objectives of the program;
  • Potential for long-term viability;
  • Qualifications and record of the business and senior management;
  • Evidence the business has the financial capacity to complete the project;
  • Level of assistance from other government programs offered or available;
  • Export sales and/or import substitution;
  • Economic benefit to the province;
  • Availability of program funds; and
  • Employment creation.