Strategic Investments Program — Nunavut Business Investment Fund

Who is eligible?

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.

Who is not eligible

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

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.

Eligible geographic areas

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.

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.