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MAPS 2.0

Momentum Advisory Professional Services

(MAPS 2.0)


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NEW - Application period extended until 5:00 pm ADT on Friday, April 30, 2021.


ELIGIBILITY

All women-owned, for-profit businesses (defined as being at least 51% owned by a woman or women), in any sector, currently registered in Prince Edward Island that have been in continuous operation for at least one (1) year (i.e. business registered with Province of PEI April 01, 2020 or prior) are eligible to apply.

ELIGIBLE ACTIVITIES

MAPS 2.0 funding is intended to assist businesses in managing the effects of COVID-19 and its impacts. Advisory and professional services aimed at providing momentum will be contracted on behalf of the participating business for projects in the following categories:

  • Business Operations – may include but not limited to how to source funding, private and public sector procurement assistance, human resources advice, marketing strategy, export planning, etc.
  • Business Transformation - may include but not limited to how to move services/products on-line; advice on responding to current urgencies and priorities of clients; preparedness planning; strategic business growth planning.
  • Recovery Measures – may include but not be limited to reinventing a business; revised business growth plans for post-COVID environment; assistance with retaining/rehiring staff; alternative supply and product development models.
  • Other activities that will support the objectives of the overall program initiatives.

Please note: Funds cannot be used for infrastructure, capital purchases, rent and/or wages.

COSTS

MAPS 2.0 will cover 100% of all professional service and advisory costs associated with the project up to $15,000. While there is no financial contribution required of the client, there is an expectation of a time commitment during the project and through the evaluation phase. This time contribution is expected to vary based on the individual project and will be discussed and mutually agreed upon on a case-by-case basis.

Project value may not exceed a maximum request of 25% of the applicant's total of revenue from April 01, 2020 to March 31, 2021. Evidence of financial details may be requested after application is received.

Funding is limited to professional services and may not be used for the purchase of goods, including personal protective equipment, technology or software licenses, nor can it be used for capital expenditures, rent, wages or any other standard operational costs.

PROCESS

Upon conditional approval, the client will work with the PEIBWA program lead to contract a professional service provider. Should the applicant not have a consultant in mind at the time of application, PEIBWA will work with the business to find the right support. If the applicant wishes to work with a particular provider, that provider is asked to submit a profile to PEIBWA's Professional Services Registry for vetting.

Once the provider has been selected and approved, an initial signing payment of 25% of total project funding will be released to the service provider upon contract signing with the remainder payable upon conclusion of the project and upon receipt of a final report that is approved by the client.

TIMELINE

Program application closes on Friday, April 30, 2021 at 5:00 PM ADT.

All project applications will be reviewed but only successful applicants will be contacted.

The selection process is expected to take approximately two weeks.

Approved projects must be completed by July 16th, 2021.

APPLY HERE

FOR MORE INFORMATION

Please contact Jane L. MacIsaac, PEIBWA Business Development and Membership Officer  jane@peibwa.org or 902-892-6040.




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