Innovation PEI will invest $200,000 through the Ignition program in eight local businesses, many of which are just beginning their operations, says Innovation and Advanced Learning Minister Allen Roach.
“Entrepreneurship is strong on Prince Edward Island and to support our potential entrepreneurs, we created the Ignition program to help them when they need it most, in the early stages of business development,” said Minister Roach. “Startup is a period when financial resources are crucial and financing can be hard to secure. Ignition gives successful applicants some added security during this critical time. To grow our economy, we need to support these new businesses that have the potential to become major players in our business community.”
The Ignition Program was launched in June of 2014 to assist startups on Prince Edward Island by providing them with an investment of $25,000 to develop their businesses. Innovation PEI received 46 submissions from individuals interested in pursuing entrepreneurship in the province.
Funding is being provided to: Queen Bee Games, Pownal; Island Gold Honey, Murray Harbour North; Can’t Check This, Charlottetown; Sun Country Safety Wear, Vernon River; Island Artisan Cheesehouse, Mont Carmel; Skip the Waiting Room, Cornwall; BamText Corp, Charlottetown; and Serene View Ranch, Alexandra.
“I want to congratulate all of our applicants for their creativity and ambition. They have shown great vision, and Innovation PEI will be following up with each of them to make sure they can benefit from our existing programs and services to help business in this province,” said Minister Roach. “
For more information on Innovation PEI and the Ignition program, visit www.innovationpei.com.