Aquaculture Capital Equity Program
NL, Canada
Newfoundland and Labrador commercial aquaculture funding
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
grant_single|grantors
- Government of Newfoundland and Labrador
- Department of Fisheries and Land Resources
grant_single|status
grant_card_status|open
grant_single_labels|preview
This program offers at least $250,000 for finfish operations and $100,000 for shellfish operations to match private sector cash investments.
grant_single_labels|projects
This grant is specifically targeted at companies involved in aquaculture within Newfoundland and Labrador. The eligibility is confined to firms operating in this province to support regional economic development in the aquaculture industry.
- Newfoundland and Labrador, Canada.
grant_single|admissibleProjectsExample
$250,000
Launching of a shellfish farming initiative, Newfoundland and Labrador
$250,000
Establishment of a large-scale finfish farming operation in St John's, Newfoundland and Labrador
$250,000
Expansion of a shellfish aquaculture farm, Newfoundland and Labrador
$250,000
Launching a finfish farming and processing plant, Newfoundland and Labrador
$250,000
Establishment of an automated finfish processing facility, Newfoundland and Labrador
$250,000
Development of a sustainable shellfish aquaculture site, Newfoundland and Labrador
grant_single_labels|admissibility
Eligibility for this grant requires companies to meet specific criteria demonstrating their business plan's soundness and operational capacity.
- The company must demonstrate strength in their business plan, covering technical, marketing, and management capabilities.
- The company must be financially sound and capable of matching the investment with private sector cash investment.
- The company must be involved in aquaculture operations within Newfoundland and Labrador, focusing on either finfish or shellfish production.
grant_eligibility_criteria|who_can_apply
The Aquaculture Capital Equity Program is available to companies operating in the aquaculture sector in Newfoundland and Labrador. This includes businesses involved in farming Atlantic salmon, Steelhead trout, Atlantic cod, and blue mussels. Eligible companies must demonstrate strength in all aspects of their business plan, including technical proficiency, marketing capability, and management expertise.
grant_eligibility_criteria|who_cannot_apply
Based on the information provided in the grant context, there are no specific types of companies mentioned that are not eligible for the Aquaculture Capital Equity Program.
grant_eligibility_criteria|eligible_expenses
The grant program is designed to support the expansion and intensification of aquaculture activities in Newfoundland and Labrador. It focuses on increasing production capabilities and infrastructure development for finfish and shellfish operations.
- Expansion and development of hatchery production systems for finfish.
- Enhancement of marine site infrastructure for finfish and shellfish aquaculture.
- Investment in new and existing aquaculture technologies to improve operational efficiency.
- Initiatives to increase production capacity and output in aquaculture ventures.
grant_eligibility_criteria|zone
Eligible geographic zones for this grant include specific areas within Newfoundland and Labrador where the applicant is or proposes to operate commercial-scale finfish or shellfish production. The site must be licensed and approved by the Department of Fisheries, Forestry and Agriculture.
- Newfoundland
- Labrador
grant_single_labels|criteria
The evaluation and selection of projects for the Aquaculture Capital Equity Program are based on the strength of the business plan across technical, marketing, and management capabilities, although specific point scores are not provided.
- Technical soundness and feasibility of the business plan.
- Marketing strategies and plans for product distribution.
- Management capability and track record of the company.
- Financial soundness and adequacy of capital structure.
grant_single_labels|register
- Step 1: Initiate Contact
- Contact the Director of Aquaculture Development for consultation.
- Use the provided phone number, Tel: (709) 292-4100, or Fax: (709) 202-4113.
- Step 2: Obtain Documentation
- Request the Aquaculture Capital Equity Program Brochure and Policy and Procedures Manual.
- Ensure you have access to Adobe® Acrobat® Reader to view documents.
- Step 3: Develop Project Proposal
- Prepare a comprehensive project proposal demonstrating technical and marketing strength, management capabilities, and financial soundness.
- Identify matching private sector cash investment for your project.
- Step 4: Formal Application
- Complete all required application forms as outlined in the Policy and Procedures Manual.
- Compile necessary supporting documents, such as business plans and financial statements.
- Step 5: Submit Application
- Submit your formal application and all supporting documents to the Department of Fisheries, Forestry and Agriculture.
- Follow any specific submission instructions provided during initial contact.
- Step 6: Await Response
- Wait for the department to review your application and provide a response.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The minimum investment requirement is $250,000 for finfish operations and $100,000 for shellfish, with a matching private sector investment.
- Prospective applicants should contact the Director of Aquaculture Development for guidance and support.
- The program not only encourages financial soundness but also emphasizes technical and management capability proofs in business plans.
- The use of Adobe® Acrobat® Reader software is recommended for accessing program documents such as the brochure and policy manual.
grant_single_labels|contact
709.292.4111
Apply to this program
Unlock Funding for Aquaculture Growth in Newfoundland and Labrador
The Aquaculture Capital Equity Program provides critical financial support for aquaculture enterprises aiming to expand their operations in Newfoundland and Labrador. By partnering with the province, businesses can access necessary capital to enhance production capabilities within the vibrant aquaculture industry.
Detailed Insights into the Aquaculture Capital Equity Program
The Aquaculture Capital Equity Program is a pivotal initiative by the Province of Newfoundland and Labrador seeking to bolster the aquaculture industry, a sector with a rich heritage in the region. This program is engineered to serve as a growth catalyst by bridging the capital gap for companies involved in farming key species such as Atlantic salmon, Steelhead trout, Atlantic cod, and blue mussels. This substantive financial injection is instrumental in addressing the scalability and sustainability needs of both existing entities and new entrants in the industry.
The program offers a strategic partnership with aquaculture businesses by providing them with a baseline investment sum. This is specifically quantified as a minimum of $250,000 for projects related to finfish operations and $100,000 for shellfish projects, contingent upon a matching investment from the private sector. Such a matching fund requirement ensures that only companies with a solid financial standing and a well-laid out business plan receive this crucial support. This co-investment model not only de-risks the province’s investment but encourages greater private sector involvement, thereby multiplying the impact of the funds.
A unique feature of the Aquaculture Capital Equity Program is its dual focus on both hatchery and marine site production. This ensures that the entire production value chain benefits from enhanced financial muscle, potentially increasing efficiency and output across the sector. The impact of this funding is further accentuated by the province's strategic choice of aquaculture as a key growth area, leveraging natural resources and site advantages that Newfoundland and Labrador uniquely offer.
The program specifically targets companies that demonstrate robust management, technical proficiency, and market readiness. This stringent selection ensures that only the most promising enterprises, capable of responsible and effective resource utilization, are chosen. It reflects the program’s broader objective: to elevate the province's aquaculture industry as a leader in global seafood production, known for both quality and sustainability.
Applicants interested in the Aquaculture Capital Equity Program should approach the Director of Aquaculture Development within the Department of Fisheries, Forestry and Agriculture. With the advent of this program, Newfoundland and Labrador is not only reinforcing its commitment to economic development through aquaculture but also setting the stage for long-term industry resilience and ecological safety.
This initiative is crucial at a time when global seafood demand is surging, and sustainable aquaculture practices are gaining increased importance. The program envisions a thriving aquaculture sector that not only contributes significantly to the local and provincial economy but also supports the diversification and environmental stewardship in line with contemporary economic and ecological priorities.
Indeed, the Aquaculture Capital Equity Program stands as a testament to Newfoundland and Labrador’s strategic vision and its proactive steps to nurture industries that promise high return on investment and catalyze substantial economic contributions. Through well-allocated support, the province is not only opening avenues for increased production but also enhancing its competitive stance on the global aquaculture stage.
