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Strategic Investments Program — Nunavut Business Investment Fund
NU, Canada
Funding for large business ventures in Nunavut
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Department of Economic Development and Transportation (NU)
- Government of Nunavut
grant_single|status
grant_card_status|open
grant_single_labels|preview
Receive between $50,000 and $150,000 funding to help your business complete a financing package for a major expansion or start-up in strategic sectors of Nunavut’s economy.
grant_single_labels|terms_and_conditions
The Strategic Investments Program — Nunavut Business Investment Fund is designed to extend comprehensive financial support to eligible entities for fostering economic development. It encompasses various funding structures to aid expansion, development, and capacity building.
- Contributions structured to complement and attract borrowings or equity participation for major expansions or startups.
- Provision of funds for sectors strategic to the economy of Nunavut to boost predicted economic development outcomes.
- Support for community economic foundation through contributions to municipalities and organizations in key economic areas.
- Funding available for community events, professional development, education, and training.
- Financial support for physical community assets aimed at fostering regional economic growth.
grant_single_labels|projects
This program aims to support businesses and organizations in Nunavut with strategic investments that drive economic growth and community development. Eligible activities include contributions for expansion, capacity-building, and enhancements in key economic areas.
- Financial support for major business expansion or startup initiatives.
- Funding for training and professional development programs.
- Marketing activities to promote businesses and regional economic development.
- Community development projects aimed at strengthening economic infrastructure.
- Support for municipal and organizational activities fostering economic advancement.
- Contributions for organizing events and educational programs that offer measurable economic benefits.
- Funding for creating and maintaining community physical assets.
grant_single|admissibleProjectsExample
$ 80,000
Launching a renewable energy project to address community energy needs
$ 70,000
Expanding a local food co-op to enhance food security and community welfare
$ 60,000
Opening a traditional Inuit crafts store to promote local artisans and culture
$ 90,000
Developing a community arts center for economic and cultural growth
$ 50,000
Launching a language preservation project to revive the Inuinnaqtun language
$ 75,000
Establishing a sustainable fishery business to boost local economy
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the ownership and activities of the business or organization.
- The business must be majority-owned by residents of Nunavut.
- Eligible applicants include businesses, municipalities, non-profit organizations, and corporations.
- The business must be engaged in strategic sectors of the Nunavut economy.
- The project should demonstrate predictable economic development outcomes.
grant_eligibility_criteria|who_can_apply
The Strategic Investments Program — Nunavut Business Investment Fund is intended for businesses that are majority-owned by residents of Nunavut, as well as municipalities, non-profit corporations, and corporate bodies. It provides financial assistance aimed at business expansion or start-up costs. In addition, municipalities, non-profits, and corporations can receive funding for training, marketing, and community development projects. The program encompasses two funding streams: the Nunavut Equity Participation Plan and the Foundational Economic Fund for Nunavut. The Nunavut Equity Participation Plan (PPCN) specifically targets businesses within Nunavut that demonstrate predictable economic development outcomes, offering financial contributions designed to complement existing financing efforts and attract additional investment. The Foundational Economic Fund for Nunavut (PAEN) aims at building the economic infrastructure of the region through justified contributions to organizations and municipalities, focusing on economic development projects that deliver tangible benefits such as job creation and training opportunities.
grant_eligibility_criteria|who_cannot_apply
Some types of companies are not eligible for the Nunavut Business Investment Fund and Nunavut Economic Foundations programs. Eligibility criteria may vary, but typically companies outside Nunavut or those not majority-owned by Nunavut residents, municipalities, not-for-profit corporations, or societies are not eligible.
- Companies outside Nunavut
- Companies not majority-owned by Nunavut residents
- Companies not majority-owned by municipalities, not-for-profit corporations, or societies
grant_eligibility_criteria|eligible_expenses
The program provides funding for specific expenses to support the expansion, start-up, and community development initiatives.
- Costs of expansion or start-up for businesses.
- Training expenses for skill development.
- Marketing expenses for promoting business activities.
- Community development expenses for economic growth.
- Expenses related to professional development and education.
- Costs of organizing events that contribute to economic development.
- Acquisition and development of physical community assets.
grant_eligibility_criteria|zone
This grant is specifically designed for companies and organizations based in Nunavut. The focus on this territory is to foster regional development and empower local economic growth by supporting strategic sectors within the area.
- Businesses and organizations located within Nunavut.
grant_single_labels|criteria
The Nunavut Business Investment Fund and Nunavut Economic Foundations have set evaluation and selection criteria for grant applications.
- Projects must align with the economic development goals of Nunavut and demonstrate measurable economic outcomes.
- Proposals should outline the anticipated economic benefits, job creation, training opportunities, and contributions to the Nunavut economy.
grant_single_labels|register
Here are the steps to submit an application for the Strategic Investments Program — Nunavut Business Investment Fund:
- Step 1: Preliminary Consultation
- Contact the fund administrator to discuss your eligibility and project scope.
- Gain insights into the application process and required documentation.
- Step 2: Gather Required Documentation
- Prepare a detailed project plan outlining your business expansion or startup idea.
- Compile financial statements and forecasts, highlighting potential economic benefits.
- Include any additional supporting documents as required by the fund guidelines.
- Step 3: Complete Application Form
- Fill out the application form with accurate information regarding your business and project.
- Ensure all sections are completed and align with project objectives.
- Step 4: Submit Application
- Submit the application along with all necessary documents to the designated email or portal provided by the fund administrator.
- Verify receipt of application through confirmation from the fund provider.
- Step 5: Follow-Up and Review
- Await feedback or requests for additional information from the fund provider.
- Prepare to address any queries or provide supplementary details if requested.
grant_single_labels|otherInfo
The Strategic Investments Program provides considerable support to eligible entities in Nunavut, but additional information beyond common details includes:
- Engagement with local community stakeholders is encouraged throughout project development.
- Partnerships with Inuit organizations or businesses can enhance project viability.
