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Indigenous Cannabis Business Fund — Community Planning & Engagement
BC, Canada
Support for Indigenous business development in the cannabis sector
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|openingDateApril 3, 2023
- grant_single|closingDateSeptember 30, 2023
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Manufacturing
- Wholesale trade
- Retail trade
grant_single|grantors
- New Relationship Trust
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get up to $12,000 in non-repayable contributions to develop information and planning workshops for First Nations communities and Indigenous entrepreneurs to learn about the cannabis industry, laws, and regulations.
grant_single_labels|terms_and_conditions
There are various funding modalities linked with the Indigenous Cannabis Business Fund, aimed at ensuring equitable support for Indigenous participation in the regulated cannabis sector. These include specific contribution limits and required co-financing arrangements based on project needs.
- The maximum cumulative contribution per project is $250,000.
- Funding for business planning and advisory services covers up to 75% of eligible costs.
- Staff training costs are funded up to 75% of eligible expenses.
- Business capitalization, including start-up and expansion costs, receives funding up to 40% of eligible costs.
- Applicants generally must provide between 25% to 60% of project costs in equity or through loan financing, contingent on project type.
- Grant funds are not a standalone source; applicants must co-finance the project with cash equity or commercial loans.
grant_single_labels|projects
The Indigenous Cannabis Business Fund (ICBF) offers support for activities aimed at enabling Indigenous communities and businesses to participate in the regulated cannabis industry. The eligible activities are designed to facilitate community planning, business establishment, and expansion in the cannabis sector.
- Information and Planning workshops focused on understanding the cannabis industry and its regulations.
- Community engagement in First Nation communities for forums about cannabis industry benefits and regulations.
- Business Planning Support & Advisory including start-up planning and feasibility studies.
- Business advisory services to assist in transitioning to the regulatory market.
- Support for government licensing, permitting, and business design costs.
- Capital contribution for the start-up, expansion, or acquisition of cannabis-related businesses.
- Funding for construction, retrofits, and equipment purchases related to cannabis business establishment.
- Business advisory and skills training costs directly connected to launching a cannabis business.
grant_single|admissibleProjectsExample
$ 12,000
Development of educational materials for Indigenous cannabis entrepreneurs, focusing on regulatory compliance
$ 12,000
Setting up new Indigenous-owned cannabis retail businesses with comprehensive business planning support
$ 12,000
Conducting a business advisory workshop series for expanding Indigenous-owned cannabis businesses
$ 12,000
Hosting workshops to educate Indigenous entrepreneurs on transitioning unregulated cannabis businesses into regulated industry
$ 12,000
Creating business planning workshops for Indigenous communities interested in entering the regulated cannabis market
grant_single_labels|admissibility
Eligibility for this grant is determined by several criteria related to the ownership structure and financial capacity of the business.
- Applicants must be B.C. First Nation governments, businesses, economic development corporations, Tribal Councils, Indigenous Corporations, partnerships, associations, co-operatives, institutions, or Indigenous entrepreneurs.
- First Nations businesses and Indigenous entrepreneurs must have a minimum of 51% Indigenous ownership of the business.
- Indigenous ownership and control must be proportional to the equity invested in the business.
- Applicants must be willing and able to share in the costs of the project.
- On-Reserve projects must provide reasonable evidence of community engagement and support from First Nation government through a Band Council Resolution or equivalent.
- On-Reserve projects must transition unregulated businesses to the regulated market, ceasing operations prior to the disbursement of the ICBF Grant.
- Applicants must have financial capacity to provide between 25% to 60% of the project costs, depending on the project type.
- Financing requirements must include reasonable assurance of commercial loan financing, alternative financing, or equivalent cash equity for certain project types.
- Only one ICBF Grant is allowed per project, though multiple Indigenous owners can be included under one grant.
grant_eligibility_criteria|who_can_apply
B.C. First Nation governments, businesses, and economic development corporations; B.C. Tribal Councils; B.C. Indigenous Corporations, partnerships, associations, co-operatives, and institutions; and B.C. Indigenous (First Nation, Métis, Inuit) entrepreneurs and businesses.
grant_eligibility_criteria|who_cannot_apply
There are no specific exclusions mentioned regarding ineligible companies or industries for the BC Indigenous Cannabis Business Fund. The grant details primarily focus on the eligibility of Indigenous businesses and communities.
grant_eligibility_criteria|eligible_expenses
The BC Indigenous Cannabis Business Fund provides support for projects that aim to establish or expand regulated cannabis businesses within Indigenous communities in British Columbia. Eligible activities encompass business planning, licensing support, and capitalization for new or existing cannabis enterprises.
- Establishment of new businesses within the regulated cannabis industry.
- Expansion of existing regulated cannabis businesses.
- Transition of existing unregulated cannabis businesses into the regulated industry.
- Support for various business types including cultivation, processing, distribution, and ancillary services.
grant_eligibility_criteria|zone
This grant is available exclusively to Indigenous businesses and communities located in British Columbia. Eligible applicants must operate within specified regions of the province to qualify for funding.
- B.C. First Nation governments and communities.
- Indigenous businesses and entrepreneurs in British Columbia.
- B.C. Tribal Councils.
- Indigenous Corporations, partnerships, associations, co-operatives, and institutions in British Columbia.
grant_single_labels|criteria
- Community engagement stream (1) funding will incorporate a basic criteria-based process for selecting approved recipients.
- The Business Planning, Design, and Capital stream (2) funding will incorporate best practice business assessment policies and procedures as carried out by one of the AFIs.
grant_single_labels|register
- Step 1: Expression of Interest (EOI) Submission
- Complete and submit the ICBF Expression of Interest form available online.
- Provide necessary details about your business opportunity and funding requirements.
- Wait for contact from ICBF staff within 5 to 7 business days to discuss the process and next steps.
- Step 2: Applicant and Project Screening
- Following the EOI submission, your application will be referred to an Aboriginal Financial Institution (AFI) in B.C. for further processing.
- The selected AFI will conduct a standard screening and due diligence process to assess project viability.
- Prepare for potential discussions and provide additional information as required by the AFI.
- Step 3: Application Approval Process
- Community Planning and Engagement funding (Stream 1) will be based on basic criteria assessment.
- Business Planning, Design, and Capital funding (Stream 2) will undergo business assessment by the AFI using best practice policies and procedures.
- Await approval communication from New Relationship Trust or the assigned AFI.
- General Enquiries and Support
- Reach out to ICBF staff via email if assistance or further discussion is needed before submitting your application.
- Utilize the Cannabis Navigator service for guidance and support in application preparation and cannabis opportunity development.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- The Indigenous Cannabis Business Fund aims to bridge gaps in capacity and funding and support diversity and equity for Indigenous stakeholders in the legal cannabis industry.
- The initiative was collaboratively developed by BC Assembly of First Nations, AFIs, Health Canada, Indigenous Services Canada, and the BC Cannabis Secretariat.
- The program includes a Cannabis Navigator to help Indigenous applicants navigate the application process and understand the cannabis business opportunity.
- Eligible projects must demonstrate reasonable assurance of financial contributions ranging from 25% to 60% of project costs, through cash equity or financing.
- The maximum cumulative ICBF Grant contribution per project is $250,000, subject to specific activity funding caps.
- On-Reserve projects must evidence community engagement and support through mechanisms such as Band Council Resolution.
