Administered by Government of Prince Edward Island · Last verified: July 2026
Innovation PEI's Innovation Fund helps established PEI businesses refine and commercialize a product with export potential. It covers up to 50 percent of eligible non-recurring costs to a maximum of $50,000 per project, across a New Product stream and a Product Diversification stream. The product must be at a high technology readiness level and the business must operate in a strategic sector such as bioscience, ICT, or advanced manufacturing.
Review times vary by program, from a few weeks to a few months, so check the official page for its timeline. Grant money is usually paid after you sign a funding agreement, and cost-shared programs often reimburse you once you send proof of what you spent.
Take the 3-minute quiz to find out, and see every other Canadian program you qualify for at the same time.
Check my eligibilityPEI Innovation Fund is generally open to incorporated, partnership businesses, in Prince Edward Island, that export outside Canada, that carry out research and development. Confirm the full criteria on the official program page before applying.
The estimated value is Up to 50% of eligible costs, maximum $50,000 per project. The actual amount depends on your eligible costs, the program's budget, and approval.
1. Consult an Innovation PEI Business Development Officer 2. Confirm the product is at TRL 6-9 and in a strategic sector 3. Submit the Business Development Application before making any project commitment
Rolling intake (once per product).