This program is designed for businesses like yours that are ready to expand into new global markets. Why should you apply? Because it offers substantial financial support to help you explore and secure international opportunities.

What You Get

• Up to 40% of eligible costs for travel-related activities, including trade missions and trade shows.
• Up to 40% of eligible costs for virtual trade activities, with a maximum contribution of $3,000.
• Up to 75% of eligible costs to bring qualified buyers or partners to Prince Edward Island, with a maximum contribution of $3,000.

Benefits

• Non-repayable funding: Unlike loans, this assistance does not need to be paid back.
• Enhanced market reach: Gain access to new international markets and strengthen business relationships.
• Expert guidance: Work with Innovation PEI Trade Development Officers to maximize your project's success.

Applying is straightforward, and if approved, this program can significantly boost your business's growth and export potential.

Type of Financing: Non-repayable Grant

Repayment Terms and Interest Rates:

• No repayment required.
• No interest rates apply.

Eligible Expenses:

• Economy travel, accommodation, and meals per diem (limited to 2 representatives per business) for participation in approved Innovation PEI Global Trade coordinated trade activities.
• Registration fees, virtual preparation costs, shipping costs for sending samples, and consultant fees related to virtual trade activities.
• Economy travel, accommodation, and meal per diem (limited to 2 buyers per business per visit) for bringing a qualified buyer/partner to the province.

Ineligible Expenses:

• Additional travel expenses incurred due to COVID-19, such as testing, quarantine delays, medical costs, or quarantine expenses.

Fees:

• No fees associated with the program.

This program provides financial support to help your business explore new global opportunities. If your business is involved in exporting or is ready to start, you can receive up to 40% of eligible costs for participating in trade missions, trade shows, and virtual trade activities. This includes costs like travel, accommodation, meals, and fees for virtual booths and digital marketing.

Additionally, you can get up to 75% of eligible costs, with a maximum of $3,000, to bring potential buyers or partners to Prince Edward Island. This can help you strengthen business relationships and close sales. Eligible expenses include travel, accommodation, and meals for up to two buyers per visit.

The combined funding from all non-repayable government sources cannot exceed 75% of the eligible costs. This program is a great way to expand your market reach and grow your business with financial support for essential activities.

1. Consult with an Innovation PEI Trade Development Officer: Contact an Innovation PEI Trade Development Officer for guidance on the suitability of your project and the application process.

2. Prepare Business Documentation: Gather the necessary documents to support your application. These include:

• A detailed history and description of your business.
• Annual sales and market details.
• A description of the proposed project or activity.
• A detailed description of the economic benefits to your organization and Prince Edward Island.
• A detailed budget of estimated costs (supported by written quotations).
• Export details, such as the percentage of your business that is export, your largest export markets, and markets of interest.

3. Complete the Application Form: Fill out the application form with all required information. Ensure all uploaded files are clear and complete.

4. Submit the Application: Submit your completed application form and supporting documents to Innovation PEI before making any financial or legal commitments on the project.

5. Await Review and Feedback: Innovation PEI will review your application on a first-come, first-serve basis. They may contact you for further information or clarification.

6. Accept Terms and Conditions: If your application is approved, accept the full terms and conditions of the assistance. This acceptance, along with your application and request for payment, will constitute a contract between you and Innovation PEI.

7. Monitor Performance: Adhere to the performance monitoring requirements set by Innovation PEI to ensure compliance with the program's terms and conditions.