A new program on P.E.I. aims to help small and medium businesses come up with new ways to make their companies grow.

The provincial and federal governments are providing money for the program called Innovate P.E.I.

Eight to 12 businesses in sectors such as aerospace, information technology, bioscience and manufacturing will be selected.

The businesses chosen will be given professional advice and support.

Keith Lambe, president of the Greater Charlottetown Area Chamber of Commerce, said with the day-to-day challenges of running a business, innovative thinking can get pushed to the back burner.

He said this program should make a difference.

"Anytime we have programs of this importance in order to help businesses look at the importance of innovation within their particular business, I think it's great news and it will help Prince Edward Island businesses grow," said Lambe.

Island businesses interested in the program can submit a proposal through the Chamber of Commerce website. The last day to submit proposals is April 12.