How much funding can be received?

Funds up to 30% of admissible expenses, capped at $75000 per project.

What is the deadline to apply?

The program is accepting continuous intake

Support for Entrepreneurs and Economic Development (SEED) — Strategic Investments

Q: What are Support for Entrepreneurs and Economic Development (SEED) — Strategic Investments's eligibility criterias?

Applicants must be businesses located in the Northwest Territories (NWT). Businesses should seek to make substantial investments to expand and grow.

Last Update: January 24, 2025

NT, Canada

Money for strategic projects in Northwest Territories

Support for Entrepreneurs and Economic Development (SEED) — Strategic Investments at a glance

Eligible Funding

Max. $75,000
Up to 30% of project cost

Timeline

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

Financing Type

Grant and Funding

Eligible Industries

All industries

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) — Strategic Investments program

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.

Financing terms and conditions

This grant facilitates strategic economic growth by providing substantial financial support to businesses, incentivizing large-scale investments with specific fiscal conditions based on project scope and impact.

Funding of up to $75,000 for investments that increase local community business activities.
Priority given to projects that invest in technology and innovation.
Equity requirements are set at 30% for Group 1 communities (Yellowknife, Hay River, Fort Smith, and Inuvik) and 20% for Group 2 communities (all other NWT communities).
Projects must leverage external funding sources beyond the Government of Northwest Territories.

Eligible projects & activities

The SEED — Strategic Investments grant assists NWT businesses in making significant investments to expand and grow by directly benefiting local communities. Eligible projects focus on increasing business activities and enhancing employment opportunities.

Investments that directly increase business and economic activity in the local community or communities.
Investments that directly result in increased employment outcomes in the local community or communities.
Projects that leverage funding sources outside the Government of Northwest Territories (GNWT).
Investments consistent with Department strategies and/or regional economic development plans.

Examples of admissible projects:

$ 75,000

Launch a community technology hub to provide digital skills training

$ 65,000

Establish an artisan cooperative for handmade crafts

$ 70,000

Expand bakery's production capacity to meet growing demand

$ 65,000

Develop a small wind farm to supply renewable energy to Regina

$ 70,000

Launch a local organic food market to support farmers

$ 50,000

Upgrade fishing equipment to support sustainable practices

Eligibility criteria of the Support for Entrepreneurs and Economic Development (SEED) — Strategic Investments program

Eligibility for the Strategic Investments grant requires the applicant to meet specific criteria related to business registration and geographical location.

The applicant must be a business located in the Northwest Territories (NWT).

Who is eligible?

The Strategic Investments program is specifically designed for businesses located in the Northwest Territories (NWT) of Canada. This program targets NWT businesses that seek to make significant investments to expand and grow their business operations.

Eligible expenses

The Strategic Investments program supports large investments made by NWT businesses to boost economic activity and employment in local communities. Projects that prioritize technology and innovation are given precedence.

Projects that directly increase the business and economic activity of the local community, or communities.
Initiatives that directly result in increased employment outcomes in the local community, or communities.
Investments that leverage funding sources outside the Government of Northwest Territories.
Projects that align with Department strategies and/or regional economic development plans.

Eligible geographic areas

This grant is specifically available to businesses operating in the Northwest Territories (NWT). Eligibility is based on the business's location within this particular region.

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

Eligibility criteria of the Support for Entrepreneurs and Economic Development (SEED) — Strategic Investments program

The evaluation and selection criteria for projects under the Strategic Investments program focus on maximizing economic and employment outcomes in the Northwest Territories.

Directly increase the business and economic activity of the local community, or communities.
Directly result in increased employment outcomes in the local community, or communities.
Leverage funding sources outside the Government of Northwest Territories (GNWT).
Demonstrate consistency with Department strategies and/or regional economic development plans.
Priority given to projects investing in technology and innovation.

How to apply to the Support for Entrepreneurs and Economic Development (SEED) — Strategic Investments program

Initial Consultation

Contact your regional Economic Development Officer.
Discuss your business idea and the potential fit for the Strategic Investments program.

Application Preparation

Complete the SEED Application Form.
Gather all required documents as listed in the application checklist.

Application Submission

Submit the completed application form along with the required documents to your regional office.
Verify submission with the regional office to ensure receipt of your application.

Additional information

Here are additional relevant details for this grant:

The application period starts on April 1 and ends on March 31 annually, allowing businesses to plan submissions within this timeframe.
It is recommended to have a discussion with a regional Economic Development Officer, which may provide valuable insights and additional support.
A minimum equity requirement varies by community, potentially affecting the overall project budget.