Support for Entrepreneurs and Economic Development (SEED) — Sector Support Capital Expansion Incentive
grant_single|update January 24, 2025
NT, Canada
Money for capital purchases in the Northwest Territories
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDate April 1, 2023
- grant_single|closingDate March 31, 2024
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
- Manufacturing
- Information and cultural industries
- Arts, entertainment and recreation
- Accommodation and food services
- Other services (except public administration)
grant_single|grantors
- Minister of Industry, Tourism and Investment (NWT)
- Government of the Northwest Territories
grant_single|status
grant_card_status|closed
grant_single_labels|preview
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.
grant_single_labels|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%.
grant_single_labels|projects
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.
grant_single|admissibleProjectsExample
$ 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
grant_single_labels|admissibility
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.
grant_eligibility_criteria|who_can_apply
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.
grant_eligibility_criteria|who_cannot_apply
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.
grant_eligibility_criteria|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.
grant_eligibility_criteria|zone
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
grant_single_labels|criteria
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
grant_single_labels|apply
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grant_single_labels|otherInfo
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.
grant_single_labels|contact
867-587-7171
Apply to this program
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