Support for Entrepreneurs and Economic Development (SEED) — Entrepreneur Support

SEED’s Entrepreneur Support program provides flexibility in funding through various targeted categories, emphasizing strategic investments in small business growth and development. Each category offers unique support mechanisms tailored to specific business needs.

• Startup funding covers costs including planning, engineering, and start-up working capital.
• Capital asset acquisition is aimed at Level 2 communities to aid in purchasing capital items or leveraging loan financing, ensuring the continuation and efficiency of businesses.
• Market and product development funding assists in expanding market reach and includes support for trade show participation and marketing activities.
• Operational support funding helps enhance business skills, problem-solving, recovery planning, and provides emergency relief.
• Film support covers various aspects such as film development, marketing, promotion, and special partnerships.
• Minimum equity requirements vary by community, set at 30% for Group 1 and 20% for Group 2 communities.

Eligibility for this grant is open to specific groups based on regional location and project contributions.

• Applicants must be entrepreneurs or businesses located in the Northwest Territories (NWT).
• Applicants from Group 1 communities must contribute 30% of project costs as equity.
• Applicants from Group 2 communities must contribute 20% of project costs as equity.

Who is eligible?

Who is not eligible

Some types of companies may not be eligible for this grant:

• Companies located outside the Northwest Territories
• Non-profit organizations
• Government agencies
• Companies not engaged in commercial activities

Eligible expenses

The Entrepreneur Support program offers financial assistance to entrepreneurs and small businesses to facilitate start-up, expansion, and market development across various sectors. The funding supports several key areas to enhance business viability and competitiveness within the NWT.

• Start-up Funding: Assistance with planning, engineering, and start-up working capital.
• Capital Asset Acquisition: Support for purchasing capital items and leveraging loan financing in Level 2 Communities.
• Market and Product Development: Financial help for developing new markets and enhancing product sales.
• Operational Support: Funding to increase business skills, address problems, and develop recovery plans.
• Support for Film: Assistance in film development, marketing, and special partnerships.

Eligible geographic areas

This grant is directed towards businesses and entrepreneurs within specific regions in the Northwest Territories.

• Yellowknife
• Hay River
• Fort Smith
• Inuvik
• All other communities within the Northwest Territories

The evaluation and selection criteria for this grant are based on the following:

• Demonstrated need for funding
• Viability of the proposed project or business
• Potential economic impact in the NWT
• Ability to create or sustain jobs
• Alignment with program objectives and priorities

Here are additional relevant details for this grant:

• Funding availability is reviewed annually and subject to budgetary constraints.
• Applicants are encouraged to consult the SEED Brochure and SEED Policy documents for comprehensive guidance.
• Regional Economic Development Officers can provide personalized advice and support throughout the application process.
• Equity requirements differ based on community grouping; it is important to confirm your community's classification when applying.