Tourism Product Diversification and Marketing Program — Business Planning and Transition Assistance
Canada
Funding for tourism product business planning in the Northwest Territories
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|closingDateJanuary 17, 2024
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Arts, entertainment and recreation
- Accommodation and food services
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
Get up to $25,000 towards the development of business plans to enhance an existing tourism product or develop a new one.
grant_single_labels|projects
Projects or activities eligible for this grant include:
- Business planning to enhance existing tourism products
- Development of new tourism products to attract visitors to the NWT
- Product enhancement to improve existing offerings
- Marketing projects such as trade show travel, website development, and brochure creation
grant_single|admissibleProjectsExample
$15,000
Kelowna
Create digital marketing materials for a wine tour startup
$14,000
Charlottetown
Create a marketing campaign to increase tourism at a new historical museum
$22,000
Vancouver
Develop a new guided hiking tour to attract eco-tourists to Vancouver
$19,000
Edmonton
Enhance the cultural festival experience by integrating technology
$15,000
Whitehorse
Develop a business plan for enhancing a canoeing adventure experience
$23,000
Banff
Develop a winter sports festival to attract tourists to Banff
grant_single_labels|admissibility
The eligibility criteria for this grant include:
- NWT Businesses, economic development agencies, and communities
- Aboriginal Organizations
- Potential aboriginal culture tourism ventures
grant_eligibility_criteria|who_can_apply
Eligible types of companies for this grant include NWT businesses, economic development agencies, communities, Aboriginal organizations, and potential Aboriginal culture tourism ventures.
- NWT Businesses
- Economic development agencies
- Communities
- Aboriginal Organizations
- Potential Aboriginal culture tourism ventures
grant_eligibility_criteria|who_cannot_apply
Some types of companies may not be eligible for this grant.
Here are the ineligible entities:
- Non-NWT Businesses
- Entities not related to economic development agencies or communities
- Non-Aboriginal Organizations
grant_eligibility_criteria|eligible_expenses
There are eligible expenses for this grant.
- Business planning and transition assistance costs such as consulting fees, business plan development, or obtaining a Tourism Operator Licence.
- Product development and enhancement costs including start-up, capital acquisition, skills upgrading, website development, and product offering development.
- Marketing assistance for tourism businesses like travel to trade shows, brochure development, website modification, and launch campaigns.
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. The criteria focus on the applicant's business planning, product development, and marketing projects.
- Applicant's ability to demonstrate a clear business plan or project proposal.
- Viability of the proposed tourism product or service.
- Potential for economic growth and job creation in the NWT.
- Evidence of marketing strategies to attract new visitors.
- Equity contribution and financial commitment from the applicant.
- Alignment with the overall goals of the Tourism Product Diversification and Marketing Program.
grant_single_labels|register
- Step 1: Contact your regional Tourism Development Officer to discuss your idea before developing your proposal.
- Step 2: Complete the appropriate application form for the specific funding stream you are applying for: Business Planning and Transition Assistance, Product Development and Enhancement, or Marketing Assistance for Tourism Businesses.
- Step 3: Submit the completed application form to your regional office.
grant_single_labels|contact
867-767-9206
Apply to this program
Tourism Product Diversification and Marketing Program Summary
This program provides funding for businesses, economic development agencies, and communities in the Northwest Territories (NWT) to enhance or expand their tourism products and operations. Funding is available for business planning, product development, and marketing activities to attract new visitors and increase revenues for existing tourism businesses.
Detailed Explanation of the Tourism Product Diversification and Marketing Program
The Tourism Product Diversification and Marketing Program is a funding initiative designed to support businesses, economic development agencies, and communities in the NWT to revamp or expand their tourism offerings. The program is structured into three main schedules that cater to different aspects of enhancing the tourism experience in the region: Business Planning and Transition Assistance, Product Development and Enhancement, and Marketing Assistance for Tourism Businesses.
Schedule 1: Business Planning and Transition Assistance
Under this schedule, applicants can access up to $25,000 for developing business plans to improve existing tourism products or create new offerings that attract more visitors to the NWT. The funds can cover consulting fees, business plan development costs, and expenses related to obtaining a Tourism Operator License. There is an equity requirement of 15%, inclusive of Sweat Equity.
Schedule 2: Product Development and Enhancement
This schedule offers funding of up to $250,000 over one or multiple years for developing new tourism products or enhancing existing ones. Recipients who receive the maximum amount can re-apply after five years. Eligible costs include startup expenses, capital acquisition, skills upgrading, website development, and other enhancements to attract new visitors. A 15% equity requirement applies, with up to $10,000 in existing equity or sweat equity that can be applied towards the project.
Schedule 3: Marketing Assistance for Tourism Businesses
Under this schedule, applicants can receive up to $10,000 for marketing projects aimed at promoting their tourism offerings. The funds can be used for travel to trade shows, brochure development, website modifications, and other marketing activities. A 15% equity requirement applies, and additional information may be requested by the economic development officer during the application process.
Applicants eligible for this program include NWT Businesses, economic development agencies, communities, Aboriginal Organizations, and potential aboriginal culture tourism ventures. It is recommended to consult with a regional Tourism Development Officer before submitting a proposal. The application deadline for the current cycle is January 17th, 2024.
Overall, the Tourism Product Diversification and Marketing Program aims to support the growth and diversification of the tourism sector in the NWT by providing financial assistance for innovative projects that attract new visitors, increase revenues, and contribute to the overall economic development of the region.
