Funding Programs

Trade Team PEI

Trade Assistance Program

The Trade Assistance Program helps Island businesses participate in trade missions and trade shows, focusing on new business opportunities in international exporting. Delivered by Innovation PEI, this program provides funding to cover eligible costs associated with such participation. Specifically, the Trade Assistance Program aids companies in developing or exploring exporting options while on the ground in their target country.

The program is aimed at the following sectors: food development, diversified advanced manufacturing, bioscience, information technology, professional services and craft/giftware. Unique exportable services may be considered in other sectors.

Export Help

Through its Export Help! program, Trade Team PEI links export-ready Island companies to specialized consultants who assist with market research and planning and by answering fundamental questions regarding trade or export. A partnership between the Atlantic Canada Opportunities Agency and Innovation PEI, this program covers most of the costs associated with such customized assistance.

Incoming Buyers Program – International

Anticipated Goals & Outcomes

  • Assist enterprises in meeting their international business development goals and to enhance revenue generation potential.
  • Introduce new buyers and prospective business partners to the region.
  • Seek out and expose new market opportunities.
  • Leverage Trade Team PEI and other trade missions, trade shows and existing federal-provincial support programs.

Cluster Development Program

t its core, cluster development is about companies coming together locally to do business globally. It involves firms within a concentrated geographical area establishing close linkages and bringing their individual strengths, infrastructure and human resources together to improve their collective competitiveness in pursuit of global opportunities.

 Through the intervention of a skilled facilitator, firms will be led through a multi-step business planning process that steers them through vision and goal setting exercises into the development of targeted and executable action plans tailored to specific international market opportunities.

 The Business Cluster Development Program will provide a non-repayable contribution of up to 75% or $7,500 of maximum allowable costs of $10,000 to hire a skilled facilitator. Firms interested in forming a cluster or business network will be responsible for paying their portion (25% – $2,500) of the project costs at the signing of the contract with TTPEI and the consultant.

Skills PEI Programs

Career Prep Program – The Career Prep Program provides post-secondary students in their final year of study with an opportunity to secure employment in their chosen field prior to graduation. Students hired by employers in Fall 2014 will receive part-time employment until graduation in Spring 2015 with the goal of securing full-time employment with the employer at that time.

Employ PEI – Employ PEI is an employment benefit program which is designed to encourage employers to hire eligible individuals and provide them with an on-the-job work experience to enhance their skills and employability.

Canada-PEI Job Grant – The Canada-PEI Job Grant provides employers with financial assistance to train new or existing employees to meet the skill requirements for available jobs.

Workforce Development Fund – The Workforce Development Fund provides Island businesses with assistance to train their employees in the workplace in order to increase their skills. The program includes three distinct modules for potential support, including Workforce Learning, Workforce Exposure and the Canada-PEI Job Grant.

CARIC – provides financial support to collaborative R&D projects. Its mission is to facilitate collaboration of researchers from the aerospace industry, academia and research centres, and to launch initiatives whose primary purpose is to promote responsive, impactful R&D.