Start-up businesses can apply to Ignition Fund

The Voice of Canada News:

Applications are now open for Innovation PEI’s 2020 Ignition Fund competition, which offers up to $25,000 to launch or expand a business in Prince Edward Island.

Jacinta Gallant of Innovation for Lawyers received Ignition funding in 2019. Jacinta says the funding helped the company with product and market development.

“Receiving the Ignition Fund was such a positive step for us as we expanded our market into Europe and South America,” said Jacinta Gallant. “When the pandemic prevented us from completing our promotional tour in Europe, we had the support we needed to build a new marketing approach to continue to reach prospective customers.”

This is the seventh year for the Ignition Fund, which supported 10 entrepreneurs across the Island last year with start-up and expansion funding. To qualify, applicants must be start-up businesses and entrepreneurs who are committed to establishing and operating a new business in this province. The products or services must be innovative, and have the potential to be sold outside of Prince Edward Island.

Islanders can apply for the fund at Ignition Fund until Friday, October 9, 2020.

“As a former business owner myself, I understand how important it is for Government to support our Island entrepreneurs. I believe some of the best ideas can come to life with a little help, and through the help of the Ignition Fund, we’re happy to bring those ideas to reality.”

• Economic Growth, Tourism and Culture Minister Matthew MacKay

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