Capital Acquisition Support
Get up to $25,000 in non-repayable grant funding, covering up to 25% of eligible costs, for new equipment or infrastructure. It is for export-focused PEI businesses, and you must apply before spending any money.
“The program provides up to 25 per cent of the eligible costs to a maximum of $25,000 assistance.”
From the official program page
Before you spend any money
You must submit your application before making any financial or legal commitment to the project; approval is not guaranteed and funds are limited.
At a glance
Subject to program rules, available funding, and approval. Confirm current details with the official program administrator.
Is this for you?
- You operate a PEI-based business in a strategic sector like bioscience, aerospace, advanced manufacturing, clean tech, ICT, or creative industries, or you offer a unique exportable product.
- You need to purchase machinery, equipment, or complete renovations to expand your capacity or launch a new operation.
- You are actively operating and registered in PEI with a clean record, meaning no outstanding defaults in the province's Central Default Registry.
Probably not the right fit if
- You are located outside Prince Edward Island, as this program is exclusively for PEI businesses.
- Your business serves primarily the local market or does not fit the strategic sectors, such as standard retail, restaurants, or salons without unique export goods.
- You have already bought the equipment or signed legal contracts for the project, since you must apply before making any financial or legal commitments.
How much you'd realistically get
For example, a storefront refresh (new facade, paint and exterior lighting):
Project cost
$60,000
Program pays
$15,000
You pay
$45,000
Illustration using this program's published rate and cap; amounts and eligibility are decided by the program.
Up to 25% of eligible costs, capped at $25,000 in total assistance.
What may be supported
- Machinery and equipment purchases
- Renovations for new business establishment or expansion
- Leasehold improvements directly related to business expansion
What's excluded or restricted
- A business with a defaulted outstanding debt obligation in the Province's Central Default Registry is not eligible
- New project submissions from an applicant in default to Innovation PEI will not be reviewed until resolved
How applying works
Effort: moderateYou need to prepare a project description, obtain written quotations for costs, and provide two years of financial statements (or a business plan for new ventures).
- 01Consult an Innovation PEI Business Development Officer to confirm your project's suitability.
- 02Gather required documents: business history, two years of financial statements (or business plan), project description, written quotations, source of funds, and shareholder/management list.
- 03Submit your application online via the Business Development Application portal.
- 04If approved, review and accept the letter of offer, which constitutes a contract.
- 05Submit a request for payment after completing the project requirements as per the contract terms.
Who to ask: Innovation PEI, 94 Euston Street, PO Box 910, Charlottetown, PE C1A 7L9; Phone: 902-368-6300; Toll-free: 1-800-563-3734; Fax: 902-368-6301; Email: innovation@gov.pe.ca
Documents commonly required
- Business history and description
- Two years of financial statements (for existing businesses) or a business plan (for new businesses)
- Project description with estimated costs and written quotations
- Source of funds documentation
- List of shareholders and key management
What to know before you count on it
- This is competitive: not all projects meeting criteria receive funding due to limited program funds.
- The grant is likely taxable income; confirm with your accountant.
- Combined government non-repayable funding for your project cannot exceed 75% of eligible costs.
- You must have a clean record: no defaulted debts in the PEI Central Default Registry or with Innovation PEI.
What are your odds?
Selection is discretionary and subject to fund availability; businesses with clear export potential and strong financial documentation tend to succeed.
Frequently asked questions
Do I have to repay this money?
No, it is a non-repayable grant. However, it is likely taxable income, so ask your accountant.
Can I apply if I already bought the equipment?
No. You must apply before making any financial or legal commitment to the project.
What if I am getting other government grants?
The total non-repayable government funding for your project cannot exceed 75% of eligible costs.
Is there a deadline to apply?
The official program page does not state a fixed deadline, but funding is subject to availability. Apply early.
More funding by what it pays for
Funding for Accessibility
Grants for ramps, doors and washrooms may help pay for accessibility improvements.
Funding for Storefront Signage
Grants and loans that may help pay for new storefront signage.
Funding for Storefronts and Facades
Grants and loans that may help pay for storefront and facade work.
What you can combine it with
You can combine this with other funding, but total non-repayable government support for the project cannot exceed 75% of eligible costs.
Related programs
Worth reading before you apply
Get alerted when this changes
Programs open and close, budgets run out, rules change. We send one short email when something changes that matters for this program.
Page last updated ; status and deadline checked . Source: official program page.