Indigenous Economic Development Fund — Business and Community Fund
ON, Canada
Grants for Ontario Indigenous businesses, communities and organizations
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|openingDateNovember 07, 2023
- grant_single|closingDateDecember 19, 2023
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Government of Ontario
- Ministry of Indigenous Affairs
grant_single|status
grant_card_status|closed
grant_single_labels|preview
Financial backing for economic capacity-building projects, community projects, and business support services.
grant_single_labels|projects
This grant is specific to Indigenous communities and organizations in Ontario, Canada. Eligibility is tailored to support communities on and off reserve within Ontario.
- Indigenous communities and organizations within Ontario, Canada.
- Both on-reserve and off-reserve locations within Ontario.
grant_single|admissibleProjectsExample
$30,000
Expanding an Indigenous-owned coffee shop to include a bakery section
$20,000
Supporting skill development in software programming for Indigenous youth
$25,000
Start-up financing for a small Indigenous-owned eco-tourism business
$25,000
Developing a job training program for Indigenous youth focused on trades
$20,000
Expansion financing for an existing Indigenous crafts store to add an online sales platform
$18,000
Launch of an Indigenous artist cooperative focused on digital media and graphic design
grant_single_labels|admissibility
Eligibility for the Indigenous Economic Development Fund is determined by the alignment of the applicant's projects with the fund's objectives.
- The applicant must be an Indigenous entrepreneur, business, community, or organization.
- The project should aim to diversify Indigenous economies.
- The project should focus on increasing access to employment and training opportunities.
- Proposals should address start-up or expansion financing for small and medium-sized businesses.
- The initiative should support collaboration between Indigenous communities and the private sector for economic development.
grant_eligibility_criteria|who_can_apply
The Indigenous Economic Development Fund (IEDF) is open to Indigenous entrepreneurs, businesses, communities, and organizations with a focus on promoting economic growth and improving employment for Indigenous people in Canada. This includes support for economic diversification, access to employment and training, as well as start-up and expansion for small and medium-sized businesses.
grant_eligibility_criteria|eligible_expenses
This grant supports projects that aim to enhance economic opportunities and build capacity within Indigenous communities. The eligible projects focus on economic diversification, access to employment and training, and collaborative initiatives with the private sector.
- Diversification of Indigenous economies to reduce reliance on specific sectors.
- Enhanced access to employment and training opportunities for Indigenous people.
- Start-up and expansion financing for small and medium-sized Indigenous businesses.
- Financial and skills training support through collaboration between Indigenous communities and the private sector.
grant_eligibility_criteria|zone
The grant covers expenses necessary for promoting economic development and improving employment opportunities for Indigenous communities.
- Financing for start-up and expansion of small and medium-sized businesses.
- Costs related to skills training and economic development initiatives.
- Consultation and engagement capacity-building expenses.
- Feasibility studies, design, and construction-related costs for community capital projects.
- Development of business partnerships and project collaboration expenses.
grant_single_labels|criteria
There are evaluation and selection criteria for the Indigenous Economic Development Fund. The criteria include:
- Alignment with fund objectives and priorities
- Community benefits and economic impact
- Capacity to implement and sustain the project
- Evidence of partnership and collaboration
- Financial viability and soundness of the project
grant_single_labels|register
- Step 1: Identify the Appropriate Funding Stream
- Review the different funding streams available under the IEDF to determine which best aligns with your project needs: Economic Diversification Grant, Business and Community Fund, or Regional Partnership Grant.
- Ensure the eligibility of your project as per the specific stream requirements.
- Step 2: Prepare Your Documentation
- Gather necessary documentation, such as business plans, project proposals, financial statements, and any community support letters.
- Compile detailed information about your project including objectives, expected outcomes, and budgets.
- Step 3: Complete Application Form
- Access the application form through the Ontario government’s funding portal for Indigenous Economic Development Fund.
- Ensure all sections of the application form are filled out completely and accurately.
- Attach any supporting documents as required.
- Step 4: Submit the Application
- Submit your completed application form and all necessary documentation by the specified deadline (e.g. December 19, 2023, for certain streams).
- Follow specific instructions regarding submission, whether online through the portal or by mail/email if applicable.
- Step 5: Confirmation of Submission
- Receive a confirmation email or notification that your application has been received.
- Keep a copy of the submission confirmation for your records.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Grant applicants should ensure project alignment with broader government strategies, as this can increase funding chances.
- Past grant recipients may be required to demonstrate the impact of previous funding when applying for new grants.
- There's an emphasis on partnerships with the private sector, which may enhance the competitiveness of applications.
- Applicants should anticipate potential collaboration with other government-funded programs to maximize impact.
- Consultation with Indigenous community leaders could strengthen application credibility and local support.
Apply to this program
Supporting Indigenous Economic Growth and Opportunities
The Indigenous Economic Development Fund (IEDF) offers essential financial resources for Indigenous entrepreneurs, businesses, and communities, promoting economic growth and enhancing employment prospects. Through its strategic funding streams, the IEDF aims to diversify Indigenous economies and foster collaborative development initiatives.
Detailed Explanation of the Indigenous Economic Development Fund
The Indigenous Economic Development Fund (IEDF) is a pivotal financial instrument dedicated to empowering Indigenous communities by providing essential grants and financing options. These encompass various economic initiatives that are tailored to fostering growth, diversification, and employment within Indigenous-owned enterprises and community projects. The IEDF is structured to cater to these needs through its three principal funding streams: the Economic Diversification Grant, the Business and Community Fund, and the Regional Partnership Grant, further emphasizing the fund's comprehensive approach to economic support.
The Economic Diversification Grant is aimed at bolstering efforts to broaden the scope of economic activities within Indigenous communities. This involves identifying and nurturing new market opportunities, which can lead to sustainable economic growth and job creation. Furthermore, this grant encourages the development of business sectors that are traditionally underrepresented in Indigenous economies, thus enabling a balanced economic landscape.
Simultaneously, the Business and Community Fund focuses on providing crucial start-up and expansion financing for small and medium-sized Indigenous-owned businesses. By easing the financial barriers to entry and growth, this fund supports entrepreneurship and the establishment of businesses that serve the dual purpose of personal financial empowerment and community economic resilience. This fund underlines the importance of self-sufficiency and community progress through entrepreneurial innovation.
The Regional Partnership Grant is designed to foster collaboration between Indigenous communities and private sector entities. This collaboration aims to enhance the economic fabric of Indigenous regions through shared ventures, expertise exchange, and resource pooling. The grant facilitates joint initiatives that can lead to regional economic revitalization and increased employment opportunities, while also providing valuable training resources for community members.
Understanding that successful economic development requires a foundation of sound infrastructure, the Indigenous Community Capital Grants Program complements the IEDF by funding capital projects. This program underpins the economic initiatives with the necessary physical infrastructure, supporting feasibility studies, design completions, and the construction or renovation processes needed for community advancement.
Meanwhile, the New Relationship Fund aids First Nations, Métis communities, and other Indigenous organizations by enhancing their capacity for consultation, engagement, and the development of business partnerships. Through these engagements, Indigenous entities can better navigate the complexities of economic development opportunities and negotiate effectively with potential business partners.
In sum, the IEDF and its associated programs are more than just financial aids. They are strategic tools designed to create a sustainable economic environment within Indigenous communities, promoting not just current growth but also fostering a future of self-reliance and prosperity. By leveraging these funds, Indigenous enterprises and communities can forge a path towards robust economic development, cultural enrichment, and long-lasting socio-economic impacts. This comprehensive approach ensures that the benefits of these programs ripple outwards, contributing to the overall economic health and vitality of the wider community.
