Startup Zone Resident Company Program
Highlights
This program is designed for businesses like yours with high growth potential. It offers a range of resources to help you succeed. You will have access to in-kind office hours support, in-house mentoring, and business specialists. Additionally, you can attend free in-person and online events, and join a vibrant online Slack community for networking and exposure.
Key benefits include:
- 24/7 access to workspace
- Growth coaching at no additional cost
- Legal and accounting support
- Discounts on telecommunications and office supplies
- Investment and loan options
- Wage subsidies and employment resources
By joining this program, you will gain valuable insights and support to grow your business. The application process is straightforward, and the benefits far outweigh those of other financing options. This is a unique opportunity to leverage expert advice and resources tailored to your business needs.
Financing Details
Type of Financing:
- Wage Subsidy: This program offers a wage subsidy to support your business.
Repayment Terms and Interest Rates:
- No Repayment Required: As this is a wage subsidy, there are no repayment terms or interest rates.
Eligible Expenses:
- Employee Wages: The funds can be used to cover a portion of the wages for new or existing employees.
- Training Costs: The subsidy can also be used to cover training costs for employees.
Ineligible Expenses:
- Non-Wage Expenses: The funds cannot be used for non-wage related expenses such as equipment, office supplies, or other operational costs.
Fees:
- No Fees: There are no fees associated with applying for or receiving this wage subsidy.
Qualifications
- Must be a business operating in Prince Edward Island.
- Must have high growth potential.
Must be in one of the following sectors (but not limited to): tech, wellness, food, apparel, social enterprise.
Disqualifications:
- None specified.
Description
This program offers a range of benefits to help your business grow. You can access resources like in-kind office hours support, mentoring, and business specialists. These resources are available through our sponsors and community partners.
You get free access to events, both in-person and online. This includes networking opportunities and exposure in our online Slack community. You also have 24/7 access to workspace. This means you can work whenever it suits you best.
Additional supports include growth coaching, legal and accounting support, and educational tools. You can also benefit from market intelligence services, office infrastructure discounts, and financial supports like investment and loan options. These resources are designed to help your business succeed and reach its full potential.
Program Steps
Gather Required Documentation: Prepare the following documents:
- Business plan
- Financial statements (balance sheet, income statement, cash flow statement)
- Proof of business registration
- Identification documents for business owners
- Any relevant licenses or permits
Complete the Application Form: Fill out the application form provided by the Startup Zone. Ensure all sections are completed accurately.
Submit the Application: Submit your completed application form and required documentation to the Startup Zone. This can usually be done online or in person.
Schedule an Interview: After submitting your application, schedule an interview with the Startup Zone team. This is an opportunity to discuss your business and how the program can support your growth.
Attend the Interview: Attend the scheduled interview. Be prepared to answer questions about your business, your goals, and how you plan to utilize the resources provided by the program.
Review and Sign Agreement: If your application is approved, review the terms and conditions of the program. Sign the agreement to confirm your participation.
Begin Utilizing Resources: Once accepted, start utilizing the resources offered by the Startup Zone, such as office space, mentoring, and networking opportunities.