Support for Entrepreneurs and Economic Development (SEED) — Strategic Investments
Overview
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.
At a glance
Funding available
- Integrate new technologies
- Increasing community impact
- Develop strategic partnerships
- Maximum amount : 75,000 $
- Up to 30% of project cost
- Open Date : April 1, 2023
- Closing date : March 31, 2024
Eligible candidates
- All industries
- Northwest Territories
- For-profit business
- Sole proprietorship
- All revenue ranges
- All organization sizes
- Rural or Northern Residents
Activities funded
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.
Eligibility
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
Selection 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.
How to apply
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.
