Support for Entrepreneurs and Economic Development (SEED) — Strategic Investments
NT, Canada
Money for strategic projects in Northwest Territories
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateApril 01, 2023
- grant_single|closingDateMarch 31, 2024
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Minister of Industry, Tourism and Investment (NT)
- Government of the Northwest Territories
grant_single|status
grant_card_status|closed
grant_single_labels|preview
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.
grant_single_labels|projects
This grant is available to businesses based in the Northwest Territories of Canada. The eligibility is defined by the specific communities within the territory.
- Yellowknife
- Hay River
- Fort Smith
- Inuvik
- All other communities within Northwest Territories
grant_single|admissibleProjectsExample
$65,000
Establish an artisan cooperative for handmade crafts
$75,000
Launch a community technology hub to provide digital skills training
$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
grant_single_labels|admissibility
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).
grant_eligibility_criteria|who_can_apply
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.
grant_eligibility_criteria|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.
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 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.
grant_single_labels|register
- Step 1: Initial Consultation
- Contact your regional Economic Development Officer.
- Discuss your business idea and the potential fit for the Strategic Investments program.
- Step 2: Application Preparation
- Complete the SEED Application Form.
- Gather all required documents as listed in the application checklist.
- Step 3: 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.
grant_single_labels|otherInfo
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.
grant_single_labels|contact
867-587-7171
Apply to this program
Strategic Investment Opportunities for NWT Businesses
The Strategic Investments program offers up to $75,000 in funding for businesses in the Northwest Territories (NWT) planning significant investments to expand their operations. This initiative supports projects that foster economic growth and enhance employment opportunities within local communities.
Detailed Guide to the Strategic Investments Program
The Strategic Investments program is a vital funding initiative provided by the Government of Northwest Territories, aimed at bolstering the economic landscape of the region by supporting business expansions that have a direct, positive impact on local communities. With grants of up to $75,000 available, this program is designed to foster significant business development activities that lead to increased economic activity and employment outcomes.
Targeted specifically at businesses within NWT, the program seeks to encourage applicants who can demonstrate that their investments will stimulate economic growth within their community or multiple communities. Projects that show clear potential for improving business activities and creating jobs are prioritized, ensuring that the funding translates into tangible benefits for the community.
Moreover, the program places an emphasis on leveraging additional funding sources beyond government contributions. By doing so, it encourages businesses to explore partnerships and alternative funding avenues that can enhance the resources available for their projects, thereby amplifying the overall impact.
An important aspect of the Strategic Investments program is its alignment with the broader economic strategies and regional development plans laid out by the NWT government. This ensures that the funded projects not only provide immediate economic benefits but are also consistent with long-term developmental goals.
Furthermore, when funding limitations exist, projects that incorporate technology and innovation are given preference. This focus on innovation is strategic, aiming to elevate the technological capabilities of businesses within NWT, thereby positioning them better in the competitive market landscape. Such investments are crucial for driving modernization and efficiency in operations, which can lead to sustainable growth.
Applicants must meet certain equity contribution requirements, which varies based on their location within the NWT. For businesses in larger hubs like Yellowknife, Hay River, Fort Smith, and Inuvik (Group 1 communities), a 30% equity contribution of the project cost is necessary. In contrast, businesses in other areas (Group 2 communities) are required to contribute 20% of the project cost, reflecting a tailored approach to ensure accessibility and fairness based on the economic conditions of different areas.
Businesses aiming to apply for the Strategic Investments funding are advised to connect with their regional Economic Development Officer. This step is crucial for guidance in aligning project proposals effectively with program requirements and maximizing the chances of success. The application process involves submitting a detailed proposal, with all necessary documents as per the application checklist, to the nearest regional office.
This program represents a significant opportunity for NWT businesses to secure funding that can catalyze major advancements. By participating in this initiative, businesses not only stand to gain financial support but also contribute positively to community development, helping to build a robust and dynamic economic future for the Northwest Territories.
