How much funding can be received?

Funds up to 15100% of admissible expenses.

What is the deadline to apply?

The program is accepting continuous intake

Who are the financial supporters of the Venture Investment Program?

Venture Investment Program is funded by Business Development and Investment Corporation, Government of the Northwest Territories

What are Venture Investment Program's eligibility criterias?

Businesses must be located in the Northwest Territories. Applicants must demonstrate a need for digital project support, such as adopting new digital technologies or enhancing their online presence. Support is available to eligible businesses wishing to digitalize operations.

Venture Investment Program

Last Update: January 24, 2025

NT, Canada

Preferred equity investment in Northwest Territories businesses

Venture Investment Program at a glance

Eligible Funding

Max. $15,100

Timeline

Closing date : May 17, 2024

Financing Type

Grant and Funding

Eligible Industries

All industries

Grant Providers

Business Development and Investment Corporation
Government of the Northwest Territories

Status

Closed

Overview of the Venture Investment Program program

Access business investment through the purchase of preferred shares.

Eligible projects & activities

The Venture Investment Program under Prosper NWT aims to foster digital transformation and resilience among businesses in the Northwest Territories. Eligible activities focus on digital adoption, improving online presence, and operational digitalization.

Adopting new digital technologies for business growth and efficiency.
Enhancing the online presence of businesses to reach wider audiences.
Digitalizing business operations to streamline processes and increase productivity.
Access to digital advisors for advancing digital projects.

Examples of admissible projects:

$ 15,100

Digitalizing our membership management system

$ 15,100

Implementing advanced digital payment systems in our retail stores

$ 15,100

Implementing an inventory management system for our e-commerce store

$ 15,100

Upgrading our community website for better user engagement

$ 15,100

Developing a mobile app for our financial services

$ 15,100

Creating a digital marketing campaign to boost our online presence

Eligibility criteria of the Venture Investment Program program

Eligibility for digital project grants from Prosper NWT requires businesses to meet certain criteria to qualify for support.

The applicant must be a business operating in the Northwest Territories (NWT).
The digital project should focus on adopting new digital technologies, enhancing online presence, or digitalizing operations.
The applicant must demonstrate the need for digital advancement in their business operations.
The business must meet any additional criteria as laid out by Prosper NWT for digital project support.

Who is eligible?

Eligible applicants for Prosper NWT's grant for digital projects include businesses located in the Northwest Territories seeking to adopt digital technologies, enhance their online presence, or digitalize their operations. The available grant offers up to $15,100 for qualifying projects, and emphasizes the support from digital advisors to assist in advancing these digital initiatives. However, specific evaluation and selection criteria details are not provided in the context.

Who is not eligible

There are certain types of companies that are not eligible for the Prosper NWT grant.

Non-profit organizations
Government entities
Unregistered or informal businesses

Eligible expenses

The grant offers support to NWT businesses for digital projects aimed at enhancing their technological capabilities. Eligible activities include technology adoption, online presence enhancement, and operational digitalization.

Adoption of new digital technologies.
Enhancement of online presence.
Digitalization of business operations.

Eligible geographic areas

This grant is specifically available to businesses located in the Northwest Territories as determined by the funding body, Prosper NWT. The eligible locations align with regional support and development initiatives in the Northern territories.

Businesses based in the Northwest Territories, Canada.

Eligibility criteria of the Venture Investment Program program

There are evaluation and selection criteria for the Prosper NWT grant:

Economic Impact: The project's potential economic impact on NWT businesses and communities.
Innovation: The degree of innovation demonstrated by the project and its contribution to digital advancement.
Feasibility: The feasibility and sustainability of the digital project proposed by the business.

How to apply to the Venture Investment Program program

Determine Eligibility

Review the eligibility criteria for the digital projects support program to ensure your business qualifies for funding.

Gather Required Documentation

Prepare necessary documents such as business registration details, project plan, and financial statements.

Develop Project Proposal

Outline the objectives, expected outcomes, and benefits of the digital project for your business.
Include a detailed timeline and budget for the project.

Contact Digital Advisor

Engage with a digital advisor from Prosper NWT for guidance and support in developing your digital project.

Complete Application Form

Access and fill out the online application form available on the Prosper NWT website.
Ensure all required fields are completed and documents are attached.

Submit Application

Submit the completed application through the Prosper NWT online portal.
Verify that you have received a confirmation of submission from Prosper NWT.

Await Response

Monitor your email for any communications from Prosper NWT regarding the status of your application.
Be prepared to provide additional information or clarification if requested.

Additional information

Here are additional relevant details for this grant:

The program offers access to digital advisors who can guide businesses in advancing their digital projects.
Grants/contributions are capped at $15,100 for eligible digital initiatives.