Strategic Investments Program — Nunavut Economic Foundations Fund

Who is eligible?

Who is not eligible

La subvention est spécifique à certaines industries et ne couvre pas toutes les entreprises. Certaines compagnies non-éligibles peuvent inclure :

• Les entreprises du secteur financier
• Les compagnies de jeu et de paris
• Les organismes gouvernementaux

Eligible expenses

The Strategic Investments Program in Nunavut facilitates economic growth by funding business expansion, start-up endeavors, and community projects. The activities eligible for this grant are focused on economic initiatives and development projects within the region.

• Business start-up costs and expansion initiatives for businesses majority-owned by Nunavut residents.
• Community development projects for municipalities, not-for-profits, and societies.
• Training programs and marketing strategies development.
• Projects that present measurable economic development benefits, such as job creation and training opportunities.
• Development of physical community assets that support regional economic growth.

Eligible geographic areas

This grant is available to companies located in specific geographical areas as outlined by the Government of Nunavut's regional offices. The eligible regions encompass various parts of Nunavut, ensuring support for local economic development.

• Kitikmeot (Cambridge Bay, Kugluktuk, Gjoa Haven, Kugaaruk, Taloyoak)
• Kivalliq (Rankin Inlet, Arviat, Whale Cove, Baker Lake, Chesterfield Inlet, Coral Harbour, Naujaat)
• North Qikiqtaaluk (Pond Inlet, Grise Fiord, Resolute Bay, Arctic Bay, Clyde River, Igloolik, Sanirajak)
• South Qikiqtaaluk (Pangnirtung, Qikiqtarjuaq, Iqaluit, Kinngait, Kimmirut, Sanikiluaq)

Yes, there are evaluation and selection criteria for the Strategic Investments Program. These criteria are used to assess the viability and potential impact of the proposed business ventures and community projects.

• Economic development outcomes
• Complementarity and attraction of Debt Financing and/or Equity Investment
• Measurable tangible economic development benefits (e.g., jobs, training opportunities)
• Support for regional economic development in key sectors of Nunavut's economy
• Contribution to community economies
• Events, professional development, education and training
• Development or improvement of physical community assets

• Step 1: Contact Regional Office
  • Identify the regional office responsible for your area in Nunavut (Kitikmeot, Kivalliq, North Qikiqtaaluk, South Qikiqtaaluk, or Headquarters).
  • Contact the Manager of Community Economic Development for initial guidance and to clarify any questions regarding the application process.
• Step 2: Obtain Application Form
  • Request the application form for either the Nunavut Business Investment Fund (NBIS) or the Nunavut Economic Foundations Schedule (NEFS), based on your project needs.
  • Ensure you have the correct and latest version of the application form.
• Step 3: Prepare Application
  • Provide detailed information about your business or project, including objectives, economic development outcomes, and how the funds will be used.
  • Gather necessary supporting documents such as financial statements, project plans, letters of support, and any other required documentation.
• Step 4: Complete Application
  • Fill out the application form thoroughly, ensuring all sections are completed accurately.
  • Review the application for any errors or missing information before submission.
• Step 5: Submit Application
  • Submit the completed application form along with all supporting documents to the relevant regional office either by mail, fax, or in-person.
  • Ensure submission is done before any specified deadlines to avoid disqualification.
• Step 6: Confirmation
  • Follow up with the regional office to confirm receipt of your application.
  • Keep any confirmation number or documentation for your records.

Here are additional details worth noting for this grant application:

• Contact regional offices as per your geographic location for tailored assistance and guidance.
• The program divides contributions between two funds, providing strategic financial support for different needs.
• The funding is structured to complement other forms of financing like Debt Financing and/or Equity Investment.
• The program seeks to create tangible economic development benefits such as job creation and training opportunities.
• Consider submitting applications to both NBIS and NEFS, depending on whether your project is a direct business venture or community and regional development initiative.