First Peoples Economic Growth Fund – Joint Venture Program
MN, Canada
Financing for Manitoba First Nations projects
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
- grant_single|allIndustries
grant_single|grantors
- First Peoples Economic Growth Fund Inc. (FPEGF)
grant_single|status
grant_card_status|open
grant_single_labels|preview
Is your business planning to undertake a large-scale project that costs more than $500,000? Get financing of at least $200,000 up to $1 million, in a variety of financing options.
grant_single_labels|projects
This grant provides support for large-scale First Nations enterprises with projects that are for-profit and commercially viable. The funded projects must demonstrate excellent business opportunity and focus on higher-end value-added projects.
- Projects must have total costs in excess of $500,000
- Must be for-profit and commercially viable
- Priority given to higher-end value-added projects
grant_single|admissibleProjectsExample
$300,000
Montreal
Opening a new organic coffee roastery and café offering locally sourced products
$500,000
Calgary
Developing a green energy solution for businesses to reduce carbon footprint
$400,000
Ottawa
Launching an innovative mobile health clinic to serve underserved communities
$400,000
Vancouver
Building a new recycling facility to promote sustainable waste management
$700,000
Toronto
Establishing a tech hub to support local startups and innovation
$450,000
Halifax
Revitalizing a heritage building into a cultural arts center
grant_single_labels|admissibility
The eligibility criteria for the Joint Venture Program grant are as follows:
- Have a profit objective (not-for-profit projects will not be considered).
- Demonstrate viability through a sound business plan.
- Primarily operate in Manitoba.
- Be reputable and appropriate in nature.
- Be at least 51% owned and controlled by Manitoba First Nations.
grant_eligibility_criteria|who_can_apply
The Joint Venture Program is intended to support large-scale First Nations enterprises with a strong business concept in Manitoba. The program does not specify particular types of company or industry eligible for the grant.
Nothing
grant_eligibility_criteria|who_cannot_apply
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant may include project costs, startup costs, working capital, and value-added project expenses.
- Project Costs
- Startup Costs
- Working Capital
- Value-added Project Expenses
grant_eligibility_criteria|zone
Companies eligible for this grant must primarily operate in Manitoba and be at least 51% owned and controlled by Manitoba First Nations. This indicates a regional focus to support indigenous businesses within Manitoba.
- Manitoba
grant_single_labels|criteria
There are evaluation and selection criteria for this grant:
- Businesses must have a profit objective and demonstrate viability through a sound business plan.
- Projects must primarily operate in Manitoba, be reputable, appropriate in nature, and at least 51% owned and controlled by Manitoba First Nations.
grant_single_labels|register
- Step 1: Prepare a sound business plan
- Step 2: Ensure the business is at least 51% owned and controlled by Manitoba First Nations
- Step 3: Determine total project costs exceeding $500,000
- Step 4: Choose a suitable form of financing option
- Step 5: Complete and submit the Joint Venture Financing Application
grant_single_labels|otherInfo
Additional information relevant to this grant includes financing options and loan terms.
- Financing: Available for up to $1,000,000 or 50% of the total project costs, whichever is lesser.
- Minimum funding: $200,000
- Types of financing: Common shares, preferred shares, convertible preferred shares, convertible debentures, term loans, mortgages, units in a limited partnership or joint venture.
Apply to this program
Supporting Large-Scale First Nations Enterprises in Manitoba
The Joint Venture Program aims to provide financial support for large-scale First Nations enterprises based in Manitoba, helping them capitalize on high-potential business opportunities. With funding up to $1,000,000 available, this program focuses on commercially viable, profit-oriented projects that meet specific eligibility requirements.
Empowering First Nations Business with the Joint Venture Program
The Joint Venture Program is an initiative designed to boost the economic impact and success of First Nations-owned enterprises operating in Manitoba. The program offers substantial financial backing for those businesses that present robust, commercially viable concepts. This program is unique in its focus on large-scale projects, tailored to ensure that enterprises are not only capable of starting out strong but are positioned for long-term success in competitive markets. To qualify for the Joint Venture Program, projects must have costs exceeding $500,000, underscoring the program’s focus on substantial, scalable enterprises. This criterion also ensures that the supported projects are developed with a significant investment in their concept and execution. Businesses seeking funding are evaluated based on their potential to thrive commercially and are encouraged to present detailed business plans that will be the cornerstone for assessing their viability. The program offers financing options that are innovative and adaptable, including common shares, preferred shares, convertible preferred shares, convertible debentures, term loans, mortgages, and units in a limited partnership. This suite of financial tools provides the flexibility required to suit different business needs and structures, enabling First Nations entrepreneurs to choose the most appropriate mechanism for their specific financial and strategic plans. Each form of financing is crafted to align the interests of the program with those of the participating enterprise, ensuring that the efforts are mutually beneficial. One of the key priorities of the program is to support high value-added projects. These are ventures that not only promise financial return but also contribute significantly to the value chain in their respective industries. The emphasis on high-impact projects aims to maximize economic benefits, creating ripples of positive effects that can strengthen the broader economic landscape in Manitoba. Beyond the numerical values of investment, the essence of the Joint Venture Program lies in empowering First Nations business owners by promoting their autonomy and control over their enterprises. By requiring eligible businesses to have at least 51% ownership and control by Manitoba First Nations individuals, the program ensures that the benefits of economic success remain within the community, fostering local development and reinforcing the self-reliant spirit of First Nations entrepreneurs. The comprehensive design of the Joint Venture Program also aims to address some of the systemic challenges faced by Indigenous businesses. Access to capital, mentorship, and networks is an essential set of elements needed for emerging businesses to take root and grow into their potential. Given this, the program is not only a source of funding but also a platform for First Nations enterprise leaders to engage with potential mentors and experts in the field. This holistic support system aids in overcoming obstacles that Indigenous business owners may face, offering insights and guidance that are crucial for achieving sustained business success. Moreover, the geographical focus on Manitoba highlights a strategic move to harness the potential of regional markets while addressing local challenges. The province of Manitoba, with its rich natural resources and strategic location, provides fertile ground for business development. By anchoring the program within this region, it strengthens local economies and contributes to a more resilient economic structure in the province. The multiplier effect of successful businesses can lead to job creation, skill development, and the promotion of a positive economic environment within First Nations communities in Manitoba. In conclusion, the Joint Venture Program stands as a beacon for nurturing, supporting, and guiding First Nations enterprises in Manitoba towards commercial success. It combines financial investment with a commitment to building capacity within communities, ensuring that projects with high potential get the support they need. This integral approach fosters economic empowerment, enabling First Nations individuals to lead prosperous enterprises that resonate with their community's aspirations and contribute meaningfully to the broader economy.