Ignition Program to provide startup funding for Island entrepreneurs

Published on June 22, 2014

Quentin Bevan, left, president of the Greater Charlottetown Area Chamber of Commerce, greets Allen Roach, minister of innovation and advanced learning, during a funding announcement this week at Peake's Quay. The province is providing a $25,000 grant to eligible entrepreneurs.

©Guardian photo by Nigel Armstrong

The newly created Ignition Program invites Island entrepreneurs to competitively apply for business startup funding up to the amount of $25,000.

Applicants must submit a business plan to Innovation P.E.I. that will be reviewed by an evaluation committee. If the business plan is selected, the applicant will then be asked to pitch their business plan to the committee.

In the end, successful applicants will receive up to $25,000 each towards the startup and development of their business venture. Funding may be utilized to support initiatives such as product development, incorporation, refinement, market research, business development and intellectual property.

Applications will be accepted until Sept. 12, 2014.

“Our government has heard from the Island business community that they need support to pursue and develop creative growth opportunities,” said Innovation and Advanced Learning Minister Allen Roach.

“The Ignition Program was created in response to these concerns, and will provide an initial investment to increase entrepreneurship within Prince Edward Island.”

Online: www.innovationpei.com/ignition.