Innovation PEI

Innovation PEI is an entry point for Island business growth, commercialization and export support. Ignition is a competitive seed-support program for a new innovative venture or product with strong export potential and a commitment to establish and operate in PEI. The fall 2026 round offers up to $25,000 per successful applicant without a matching contribution. Eligible activities can include product refinement, market research, intellectual property, professional services and capital purchases. Prior support from Ignition and specified related programs can make a project ineligible, and applicants must resolve defaulted obligations. Selection considers the team, product, market and growth case, with finalists invited to pitch; an award contract governs reporting and eligible expenditure. The provincial defence strategy panel announced in June 2026 is relevant context for aerospace, marine and dual-use businesses, but it is a policy-development process rather than a dedicated grant. The practical approach is to identify the appropriate business program and confirm eligibility with Innovation PEI before incurring costs.