A boost in the most recent poll has injected the Island NDP with new optimism for the next election.

For the first time in 25 years of polling on the Island, Corporate Research Associates found the NDP were the second most popular party in the province.

Support for the Liberals was steady, but Progressive Conservative support crashed in the last quarter.

But even New Democrats admit there are big challenges left to overcome before the next election.

Provincial NDP Leader Mike Redmond said the steadily rising poll numbers are the result of hard work all through his party.

“Well, our message is politics for people, right? And the most important thing that the NDP can provide is that engagement piece, the opportunity for us to listen to people's concerns,” he said.

Redmond admits it'll take more than a handshake or even favourable poll results for his party to compete in the next election. He said one of the biggest things the party needs to win is money.

“Money, obviously. I mean the structure is one portion of it but raising the profile of the party and building a war chest to be election-ready for 2015 or 2016, whatever it may be, and that's a priority,” said Redmond.

In the last election year, 2011, the Liberals received $760,000 in contributions worth $250 or more.

The Progressive Conservatives received $291,000 thousand. But the NDP received just $14,000.

The New Democrats have lifted a prohibition on corporate donations. They're planning concerts and other fundraisers.

The provincial NDP is also talking to the federal NDP party about financial support.

The party only ran 14 candidates in the last election, but the Island NDP President Andrew Want said it's already identified at least that many for next time. The PEI legislature has 27 seats.

“I have no doubt that we’ll have a full slate of candidates come the next election. We’ve got people in every riding who are willing to work,” said Want.

Don Desserud, UPEI dean of arts and a political scientist, said the NDP could be on the cusp of a major breakthrough.

“The hardest part for a party that has [had] a third party status is to convince voters that by voting for that party they’re not wasting a vote,” he said.

“When you start seeing numbers like this then a lot of member of the public will start to say, ‘Gee, maybe I’m not wasting my vote.’”