Strategic Investments Program — Nunavut Economic Foundations Fund

Q: How much funding can be received?

There is no informations about how much funding can be received.

Q: What is the deadline to apply?

The deadline to apply is not specified.

Q: Who is eligible for the Strategic Investments Program — Nunavut Economic Foundations Fund program?

To be eligible for the Strategic Investments Program — Nunavut Economic Foundations Fund program, you must: • The business must be majority-owned by Nunavut residents. • Eligible entities include municipalities, not-for-profit corporations, and societies. • Projects must be of an economic development nature with measurable benefits.

Q: Who can I contact for more information about the Strategic Investments Program — Nunavut Economic Foundations Fund?

You can contact Government of Nunavut.

Q: Where is the Strategic Investments Program — Nunavut Economic Foundations Fund available?

The Strategic Investments Program — Nunavut Economic Foundations Fund program is available the province of NU.

Q: Are startups eligible for the Strategic Investments Program — Nunavut Economic Foundations Fund program?

Yes, startups are eligible to apply for the Strategic Investments Program — Nunavut Economic Foundations Fund program.

Last Update: January 24, 2025

NU, Canada

Funding for Nunavut economic development

At a glance

Eligible Funding

No Condition

Timeline

Unspecified

Financing Type

Other Support

Grant and Funding

Eligible Industries

All industries

Funds Providers

Unspecified

Program status

Open

Overview

Financial contributions to Nunavut organizations for events, professional development and training, and infrastructure that supports economic development in strategic sectors.

Financing terms and conditions

This grant offers multiple financing modalities to support various economic development initiatives in Nunavut, ensuring impactful community and regional growth. The modalities are structured to cater to strategic projects with measurable economic outcomes.

Contributions designed to complete a financing package for business expansion or start-up initiatives.
Structured funding to complement and attract additional investments such as Debt Financing and Equity Investment.
Support for projects that provide tangible economic development benefits, such as job creation and training opportunities.
Funding available for community events, professional development, educational programs, and development of physical assets.

Activities funded

The Strategic Investments Program aimed at building Nunavut’s economic foundations supports various projects promoting economic development and community growth. Eligible initiatives focus on creating measurable benefits such as job creation and training opportunities.

Projects designed to stimulate local economies and reinforce regional economic development in key sectors.
Initiatives offering training, education, and professional development to Nunavut residents.
Events and activities aimed at fostering community engagement and development.
Construction and enhancement of physical assets within the community to support economic activities.

Examples of admissible projects:

$ 120,000

Marketing initiative to promote local tourism

$ 60,000

Professional development for employees of a not-for-profit

$ 150,000

Startup of an eco-friendly clothing brand

$ 250,000

Expansion of a local craft brewery to boost tourism

$ 100,000

Training program for local artists

$ 350,000

Development of a new community center

Eligibility

Eligibility for this grant requires that businesses be majority-owned by specific entities and demonstrate economic development outcomes.

The applicant must be a business majority-owned by Nunavut residents, a municipality, a not-for-profit corporation, or a society.
The business venture should aim for anticipated economic development outcomes.
The project must present measurable tangible economic development benefits, such as jobs or training opportunities.

Who is eligible?

This program is designed to assist businesses that are majority-owned by Nunavut residents, municipalities, not-for-profit corporations, and societies. Businesses can receive contributions for expansion or start-up costs, while municipalities, not-for-profits, and societies can receive funding for training, marketing, and community development purposes. The program is divided into two primary funds: the Nunavut Business Investment Fund, which focuses on business ventures with economic development outcomes, and the Nunavut Economic Foundations Fund, which supports projects with tangible economic development benefits, such as job creation and training opportunities, in addition to community and regional economic development.

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)

Selection criteria

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

How to apply

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.

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.

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.

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.

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.

Confirmation

Follow up with the regional office to confirm receipt of your application.
Keep any confirmation number or documentation for your records.

Additional information

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.

Apply to this program

Frequently Asked Questions about the Strategic Investments Program — Nunavut Economic Foundations Fund Program

Here are answers to the most common questions about the Strategic Investments Program — Nunavut Economic Foundations Fund. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.