Strategic Investments Program: Nunavut Business Investment Fund
This program pays part of the eligible costs to start or expand a Nunavut business, such as training or assets. You cover the rest yourself. The contribution agreement sets when you are paid, so ask the department whether you must spend first.
Before you spend any money
The program takes applications all year, with no set deadline. Get approval and sign the contribution agreement before you spend any money.
At a glance
Subject to program rules, available funding, and approval. Confirm current details with the official program administrator.
Is this for you?
- You own a business in Nunavut that is majority-owned by residents.
- You are planning a start-up or expansion with eligible costs like marketing or physical assets.
- You are a rural resident or a new start-up, as these groups are prioritized.
Probably not the right fit if
- Your business is located outside of Nunavut.
- Your business is not majority-owned by Nunavut residents or a local municipality.
- You need funding you are sure to get. This is a competitive contribution program.
How much you'd realistically get
From $50,000 up to $250,000 per project. Funding is capped at a 1:3 ratio of your project's arm's-length debt or equity financing, so the amount depends on how your project is financed.
What may be supported
- Business start-up and expansion projects.
- Training and professional development programs for staff.
- Marketing campaigns for business or community development.
- Community economic development projects and events.
- Acquisition and development of physical community assets.
What's excluded or restricted
- Companies located outside Nunavut
- Companies not majority-owned by Nunavut residents (or entities not majority-owned by municipalities, non-profits, or societies)
How applying works
Effort: moderateYou must decide your project scope, confirm eligibility with the department, and submit an application.
- 01Determine your project scope and ensure it aligns with eligible costs such as start-up, expansion, training, or community development.
- 02Confirm your eligibility, specifically that your business is majority-owned by Nunavut residents and located within the territory.
- 03Call the Department of Economic Development and Transportation at (867) 975-7866 or 1-888-975-5999 to get the application form and ask how to submit it.
- 04Prepare your required documents, which likely include a detailed project plan, budget, and proof of ownership and location.
- 05Submit your application to the Government of Nunavut, Department of Economic Development and Transportation.
- 06Wait for approval and sign the contribution agreement before incurring eligible costs.
Who to ask: Department of Economic Development and Transportation: Phone (867) 975-7866, Toll-free 1-888-975-5999
Documents commonly required
- Proof of business ownership and residency in Nunavut.
- Detailed project plan outlining start-up or expansion activities.
- Budget breakdown of eligible costs (training, marketing, physical assets, etc.).
- Proof of location and operation within Nunavut.
- Specific application form obtained from the Department of Economic Development and Transportation.
What to know before you count on it
- The exact cost-share percentage isn't published up front; confirm your out-of-pocket share with the Government of Nunavut before you commit.
- The contribution runs from $50,000 up to $250,000, and funding can't exceed a 1:3 ratio of your project's arm's-length debt or equity financing.
- The exact application form and steps aren't posted online; contact the Department of Economic Development and Transportation to confirm how to apply.
- The program pays only part of the eligible costs, so you must cover the rest yourself. You may have to spend first and be paid back later, as set out in the contribution agreement.
What are your odds?
Approval is not guaranteed. Funding is competitive, and rural and northern residents and start-ups get priority. Check with the department that your project fits before you spend a lot of time on the application.
Frequently asked questions
Is the funding a loan or a grant?
It is a contribution program, and you must share the cost. The official page does not say whether the contribution must be repaid or whether it is taxable. Ask the department before you apply.
What is the cost-share percentage?
The exact cost-share percentage isn't published up front. Confirm it on the official Government of Nunavut page or by contacting the Department of Economic Development and Transportation.
Can I apply if I am not a Nunavut resident?
No. The program is for businesses majority-owned by Nunavut residents, municipalities, or non-profit corporations and societies located and operating within Nunavut.
How do I submit my application?
The exact application form and steps aren't posted online. Contact the Department of Economic Development and Transportation at (867) 975-7866 or 1-888-975-5999 to confirm how to apply.
More funding by what it pays for
What you can combine it with
This is a territorial contribution program. You cannot combine it with funding from other Government of Nunavut programs. Ask whether federal regional development funds can help with your project, and do not claim the same costs twice.
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Worth reading before you apply
Get alerted when this changes
Programs open and close, budgets run out, rules change. We send one short email when something changes that matters for this program.
Page last updated ; status and deadline checked . Source: official program page.