How much funding can be received?

Funds up to 30% of admissible expenses, capped at $30000 per project.

What is the deadline to apply?

The program is accepting continuous intake

Support for Entrepreneurs and Economic Development (SEED) — Sector Support Capital Expansion Incentive

Q: What are Support for Entrepreneurs and Economic Development (SEED) — Sector Support Capital Expansion Incentive's eligibility criterias?

NWT businesses can apply to the Capital Expansion Incentive category. Indigenous organizations, business associations, and municipalities can apply to the Sector Research Support category. Applicants must be involved in agriculture, energy, film, fishing, knowledge economy, tourism, or value–added manufacturing sectors.

Last Update: January 24, 2025

NT, Canada

Money for capital purchases in the Northwest Territories

Support for Entrepreneurs and Economic Development (SEED) — Sector Support Capital Expansion Incentive at a glance

Eligible Funding

Max. $30,000
Up to 30% of project cost

Timeline

Open Date : April 1, 2023
Closing date : March 31, 2024

Financing Type

Grant and Funding

Eligible Industries

Agriculture, forestry, fishing and hunting
Manufacturing
Information and cultural industries
Arts, entertainment and recreation
Accommodation and food services
Other services (except public administration)

Grant Providers

Minister of Industry, Tourism and Investment (NWT)
Government of the Northwest Territories

Status

Closed

Overview of the Support for Entrepreneurs and Economic Development (SEED) — Sector Support Capital Expansion Incentive program

Get up to $15,000 per year for up to two years to offset loan interest associated with new capital purchases that will allow you to expand your business.

Financing terms and conditions

This grant provides structured financial support aimed at reducing the financial burden of capital expansion and sector research for eligible businesses and organizations in the Northwest Territories (NWT). The modalities focus on offsetting specific costs and ensuring equitable contribution from applicants.

Capital Expansion Incentive allows for an offset of loan interest related to new capital purchases for business expansion, up to a maximum of $30,000 over two to three years, with no more than $15,000 in any single year.
Sector Research Support offers up to $25,000 intended for research, planning, product development, and marketing to enhance sector understanding and presence.
Equity requirements are set based on community group: Group 1 communities must cover 30% of project costs, while Group 2 communities are required to cover 20%.

Eligible projects & activities

The SEED program provides funding to support capital expansion and sector research in key industries. The eligible projects aim to defray costs related to new investments, research, and marketing activities to boost sector growth and business expansion.

Defraying interest costs on loans for new capital purchases and business expansion.
Conducting sector-specific research or planning that supports the development of the sector.
Development of sector-specific products and related packaging materials.
Implementation of sector-specific marketing campaigns to attract investment.

Examples of admissible projects:

$ 30,000

Expanding organic farming operations with new machinery and research

$ 30,000

Producing a documentary on Indigenous cultures

$ 30,000

Developing a tech startup focused on AI

$ 30,000

Developing a renewable energy facility and related infrastructure

$ 30,000

Establishing an artisanal fishing enterprise

$ 30,000

Enhancing a tourism business with eco-friendly accommodations

Eligibility criteria of the Support for Entrepreneurs and Economic Development (SEED) — Sector Support Capital Expansion Incentive program

Eligibility for this grant is determined by specific requirements related to the applicant's profile and sector involvement.

The applicant must be an NWT business to apply for the Capital Expansion Incentive category.
Indigenous organizations, business associations, and municipalities are eligible to apply for the Sector Research Support category.
The applicant must be involved in one of the designated sectors: Agriculture, Energy, Film, Fishing, Knowledge Economy, Tourism, or Value-added Manufacturing.

Who is eligible?

NWT Businesses can apply to the Capital Expansion Incentive category, and Indigenous organizations, business associations, and municipalities can apply to the Sector Research Support category. Applicants must be involved in designated sectors such as Agriculture, Energy, Film, Fishing, Knowledge Economy, Tourism, or Value-added Manufacturing.

Who is not eligible

This grant does not indicate specific restrictions on ineligible companies or industries based on their status or activity. Therefore, without additional information, we cannot list specific types of ineligible applicants.

Eligible expenses

This program supports NWT businesses, associations, and communities in their efforts to enhance sector-specific growth and development. Eligible activities focus on capital expansion and sector research to strengthen understanding and presence within designated sectors.

Defray the cost of investing in new or expanded facilities and equipment for business expansion (Capital Expansion Incentive).
Offset loan interest associated with new capital purchases for business expansion.
Conduct sector-specific research or planning to benefit businesses by providing critical developmental information.
Invest in product development and packaging materials specific to a sector.
Implement sector-specific marketing campaigns to attract investment.

Eligible geographic areas

The Support for Entrepreneurs and Economic Development (SEED) grant is targeted towards businesses and organizations within the Northwest Territories (NWT) of Canada. This geographical focus supports local economic development efforts and sector-specific initiatives.

Yellowknife
Hay River
Fort Smith
Inuvik
Other communities within the Northwest Territories

Eligibility criteria of the Support for Entrepreneurs and Economic Development (SEED) — Sector Support Capital Expansion Incentive program

There are evaluation and selection criteria for this grant. The assessment criteria include financial viability, potential economic impact, sustainability, and alignment with sector priorities.

Financial Viability
Potential Economic Impact
Sustainability
Alignment with Sector Priorities

How to apply to the Support for Entrepreneurs and Economic Development (SEED) — Sector Support Capital Expansion Incentive program

Initial Consultation

Contact your regional Economic Development Officer to discuss your business idea and potential funding options.

Application Preparation

Download and complete the SEED Application Form.
Gather all the required documents as listed in the application checklist, which may include financial statements, project plans, etc.

Application Submission

Submit the completed application form along with all required documents to your regional office.
Ensure submission is completed before the fiscal year ends on March 31st.

Additional information

Here are additional relevant details for this grant:

It is emphasized to contact the regional Economic Development Officer prior to proposal development for guidance and insights.
The application period runs annually from April 1 to March 31, allowing for strategic planning.
The funding is aimed at defraying costs associated with capital expansion and sector-specific research, indicating a focus on long-term development.
Equity requirements vary by community group, affecting the required investment from applicants.