Support for Entrepreneurs and Economic Development (SEED) — Strategic Investments
NT, Canada
Money for strategic projects in Northwest Territories
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- grant_single|timelineUnspecified
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Grant and Funding
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- grant_single|allIndustries
grant_single|grantors
- Minister of Industry, Tourism and Investment (NT)
- Government of the Northwest Territories
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Access up to $75,000 to make large investments in your company in order to expand and grow your business and partake in major economic development projects that meet established criteria.
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This program provides funding to NWT businesses for large investments that aim to expand and grow their business in alignment with specific economic outcomes. Eligible activities should directly increase local economic activity, employment, leverage external funding, or align with regional strategies.
- Investments that increase business and economic activity in the local community or communities
- Investments that result in increased employment outcomes in the local community or communities
- Investments that leverage funding sources outside the Government of Northwest Territories (GNWT)
- Activities consistent with Department strategies and/or regional economic development plans
grant_single|admissibleProjectsExample
$70,000
Toronto
Expand bakery's production capacity to meet growing demand in Toronto.
$75,000
Vancouver
Launch a community technology hub to provide digital skills training in Vancouver.
$50,000
Halifax
Upgrade fishing equipment to support sustainable practices in Halifax.
$65,000
Regina
Develop a small wind farm to supply renewable energy to Regina.
$65,000
Calgary
Establish an artisan cooperative for handmade crafts in Calgary.
$70,000
Winnipeg
Launch a local organic food market to support farmers in Winnipeg.
grant_single_labels|admissibility
This grant is available to businesses in the Northwest Territories that are looking to make substantial investments to expand and grow their business.
- NWT Businesses.
grant_eligibility_criteria|who_can_apply
NWT Businesses are eligible for this grant. Businesses looking to make large investments in their company to expand and grow their business can apply for funding.
- NWT Businesses
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant include:
- Directly increasing business and economic activity in local communities.
- Resulting in increased employment outcomes in local communities.
- Leveraging funding sources outside the Government of Northwest Territories.
- Consistent with Department strategies and/or regional economic development plans.
- Investments in technology and innovation receiving priority for funding.
grant_eligibility_criteria|zone
Eligible geographic zones for this grant are determined by community groups within the Northwest Territories. Group 1 includes larger communities, while Group 2 includes all other communities.
- Group 1 communities: Yellowknife, Hay River, Fort Smith, and Inuvik
- Group 2 communities: All other communities within NWT
grant_single_labels|criteria
The evaluation and selection criteria for the Strategic Investments program in Northwest Territories include:
- Direct increase in business and economic activity of the local community or communities;
- Increased employment outcomes in the local community or communities;
- Leveraging funding sources outside the Government of Northwest Territories;
- Consistency with Department strategies and regional economic development plans;
- Priority given to applications investing in technology and innovation.
grant_single_labels|register
- Step 1: Contact Your Regional Economic Development Officer
- Discuss your idea with a regional Economic Development Officer.
- Gain insights and advice on how to develop your proposal.
- Step 2: Complete the Application Form
- Fill out the SEED Application Form.
- Ensure all required documents listed in the application checklist are attached.
- Step 3: Submit the Application Form
- Submit your completed application form and all required documents to your regional office.
grant_single_labels|otherInfo
The Strategic Investments program aims to support NWT businesses in making significant investments to expand and grow, with funding available up to $75,000. It prioritizes applications that invest in technology and innovation and requires a minimum equity contribution based on the community.
- Funds are available from April 1 to March 31 annually.
- Group 1 communities have a 30% project cost equity requirement.
- Group 2 communities have a 20% project cost equity requirement.
- Eligible businesses are encouraged to contact their regional Economic Development Officer before developing their proposal.
- Application documents include a SEED Application Form, SEED Policy, and SEED Brochure.
- Contact information for regional offices is provided to assist applicants.
grant_single_labels|contact
867-587-7171
Apply to this program
Strategic Investments Program for NWT Businesses
The Strategic Investments Program provides funding up to $75,000 to Northwest Territories (NWT) businesses for large investments to expand and grow their companies. This funding prioritizes projects that enhance local business activity, create employment opportunities, leverage additional funding, and align with regional economic development plans.
Understanding the Strategic Investments Program
The Strategic Investments Program, aimed at Northwest Territories (NWT) businesses, is designed to foster economic growth and expansion through substantial business investments. The program offers up to $75,000 in funding, and its primary focus is to support initiatives that directly contribute to the business and economic activity of local communities. In this detailed guide, we will explore the program's objectives, eligibility criteria, application process, and the strategic importance of this funding opportunity.
Program Objectives and Benefits
The Strategic Investments Program is structured to achieve several key outcomes: 1. **Increase Business and Economic Activity**: The program encourages investments that directly boost the economic activity within local communities. This encompasses a wide range of projects, from infrastructure developments to business expansions that can stimulate local commerce. 2. **Employment Outcomes**: A significant aim of the funding is to enhance employment opportunities. Projects that result in new job creation or the retention of existing jobs within the community are highly prioritized. 3. **Leverage Additional Funding Sources**: The program seeks to maximize its impact by encouraging applicants to leverage funding from outside the Government of Northwest Territories (GNWT). This could include private investments, federal grants, or other financial sources. 4. **Alignment with Strategic Plans**: To ensure cohesive economic growth, funded projects are expected to align with Department strategies and/or regional economic development plans. This alignment ensures that investments contribute to the broader economic goals of the region.
Funding Available
Under the Strategic Investments Program, businesses can receive up to $75,000 in funding. However, there are several conditions attached to this financial support: - **Equity Requirements**: Depending on the community category, businesses need to meet certain equity requirements: - Group 1 communities (Yellowknife, Hay River, Fort Smith, and Inuvik) require 30% of project costs to be covered by the business. - Group 2 communities (all other communities within NWT) require 20% of project costs to be covered by the business. - **Prioritization**: When funding limitations arise, priority is given to applications that invest in technology and innovation. This reflects the commitment to fostering a forward-looking and competitive business environment within the NWT.
Eligibility Criteria
To be eligible for the Strategic Investments Program, applicants must meet the following criteria: - **NWT-Based Businesses**: Only businesses operating within the Northwest Territories are eligible for this funding. - **Project Relevance**: The proposed project must directly increase business and economic activity, result in increased employment, leverage additional funding sources, and align with regional economic development plans.
Application Process
The application process for the Strategic Investments Program involves several key steps: 1. **Consultation**: It is strongly recommended that applicants contact their regional Economic Development Officer to discuss their project ideas before developing their proposals. This initial consultation can provide valuable guidance and clarify any specific requirements. 2. **Application Form**: Applicants need to complete the official application form. This form requires detailed information about the project, including objectives, projected outcomes, and financial details. 3. **Supporting Documents**: Along with the application form, applicants must attach all required documents as identified in the application checklist. These may include business plans, financial statements, project budgets, and other relevant documentation. 4. **Submission**: The completed application form and supporting documents should be submitted to the relevant regional office. Contact information for regional offices is provided to ensure that applications reach the appropriate authorities.
Contact Information for Regional Offices
- **Sahtu**: 867-587-7171 - **South Slave**: 867-872-8046 - **North Slave (Yellowknife)**: 867-767-9212 - **North Slave (Behchokǫ̀)**: 867-392-6119 - **Beaufort-Delta**: 867-678-8023 - **Dehcho**: 867-695-7500
Strategic Importance of the Program
The Strategic Investments Program plays a crucial role in the economic development of the Northwest Territories. By incentivizing businesses to undertake large-scale investments, the program aims to: - **Diversify the Economy**: By supporting a wide range of business activities, the program helps diversify the local economy, reducing dependency on any single industry. - **Promote Innovation**: With a focus on technology and innovation, the program encourages businesses to adopt new technologies and innovative practices that can enhance their competitiveness. - **Strengthen Communities**: By boosting employment and economic activity, the program contributes to the overall well-being of local communities. More jobs and thriving businesses lead to stronger, more resilient communities.
Case Studies of Successful Applicants
While specific case studies were not provided, businesses that have successfully utilized the Strategic Investments Program likely demonstrate the following: - **Increased Local Employment**: Companies that expanded their workforce as a result of the funding. - **Enhanced Business Capacity**: Investments in infrastructure or technology that have significantly improved business operations and output. - **Community Impact**: Initiatives that have had a positive ripple effect on the local economy, leading to broader community benefits.
Conclusion
The Strategic Investments Program is a vital tool for businesses in the Northwest Territories looking to make substantial investments in their operations. By providing up to $75,000 in funding, the program not only supports individual businesses but also contributes to the broader economic growth and employment landscape of the region. For businesses aiming to expand, innovate, and impact their local communities positively, applying for the Strategic Investments Program could be a transformative step.