Applications are now open for Innovation PEI’s 2022 fall Ignition Fund competition, which offers up to $25,000 to launch or expand a business in Prince Edward Island.

Rich Knox of Performers’ Health, a previous recipient of the Ignition Fund, says the fund helped put his plan into action much sooner.

“I was able to purchase the equipment that I needed to ensure the quality I envisioned, bring in experts to guide me in areas that were new to me, and was able to reach a much broader market,” said Knox. “I feel very fortunate to have had this help.”

The Ignition Fund is a competitive based fund for entrepreneurs seeking start-up capital for a new innovative business venture or to develop and launch a new innovative product. Applicants must be committed to establishing and operating a new business in this province. Projects will be judged on their innovation and potential economic impact for Prince Edward Island.

Applicants are encouraged to discuss their projects with an Innovation PEI Business Development Officer or attend one of the information sessions.

Information on the sessions and how to apply can be found at: Ignition Fund. The deadline for applications is Monday, October 24th at 1:00 p.m.

“The Ignition Fund helps companies in the early stages of development when that help is needed most. I encourage anyone with a business idea to take advantage of this opportunity.”

–  Economic Growth, Tourism and Culture Minister Bloyce Thompson

The Ignition Fund is one way the provincial government supports entrepreneurs with new ideas, together with the Startup Zone, Launch Pad, micro loans, and other support.

Media contact:
Hillary MacDonald
Department of Economic Growth, Tourism and Culture