Strategic Investments Program – Nunavut Business Investment Fund
To provide contributions to Nunavut business ventures with anticipated economic development outcomes. These contributions are structured to complement and attract Debt Financing and/or Equity Investments.
Offered by Ministry of Economic Development and Transportation
Amount
Up to $250,000
Minimum contribution of $50,000 and maximum of $250,000, alongside arm's-length debt or equity financing
Quick eligibility check
Who can apply
Eligibility is limited to for-profit businesses operating in Nunavut which comply with the legal requirements to carry on business.
An eligible applicant must be one of the following:
Corporation, registered and in good standing;
Partnership or sole proprietorship duly registered and in good standing with Nunavut Legal Registries; or
Co-operative association in good standing under the Co-operative Associations Act, or in administration under that act.
Applicants must hold a valid business license and meet the requirements set out in the Nunavummi Nangminiqaqtunik Ikajuuti (NNI) system for a Nunavut Business with respect to Nunavut ownership and residency.
About the funding
The minimum contribution is $50,000; the maximum is $250,000.
Debt or equity financing used in this calculation must be arm’s length.
Funding can be conditionally approved prior to securing the required arm’s length financing.
Stacking of assistance with funding from other Government of Nunavut programs is not permitted.
Show all funding details
Funding will not be provided, or may be provided at a lower level, if a financial analysis indicates that there is no need for assistance at the requested level and there is a reasonable expectation that the applicant organization could meet its project objectives without the requested level of project funding.
For successful applicants, payments will be issued in installments during the fiscal year (April 1 to March 31) as stated in the Contribution Agreement. Multi-year contributions may be considered.
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| Small Business Support Program – Entrepreneur Development Fund | Grant | Up to $100,000 per recipient | Open |
| Small Business Support Program – Small Business Opportunities Fund | Grant | Accountable contributions, not to exceed $100,000 per recipient | Open |
| Aboriginal Entrepreneurship Program: Access to Capital | Grant | Individual Indigenous entrepreneurs may receive up to $99,999 in funding assistance and eligible Indigenous community businesses may receive up to $250,000 (non-repayable equity contribution | Open |
| CanNor Jobs and Growth Fund | Grant, Loan | Interest-free repayable contributions for up to 50 percent of eligible costs (businesses) | Open |
