Entrepreneur Support (SEED) - Entrepreneur Support

The program provides $15,000 funding to assist existing Northwest Territories businesses in increasing their capacity and relevant business skills.

Northwest Territories Department of Industry, Tourism, and Investment

Overview of the Entrepreneur Support (SEED) - Entrepreneur Support program:

This program provides funding to entrepreneurs and small businesses to help with start-up, business expansion, market and product development, capacity building, operational support, and film support.

Benefits of the Entrepreneur Support (SEED) - Entrepreneur Support program:

Startup Funding
Assistance may be provided for costs associated with planning, engineering, start-up working capital or other developmental costs deemed to fall within this category by the Regional Superintendent.
Capital Asset Acquisition
In Level 2 Communities only, capital assistance may be provided to:
Assist with the purchase of capital items,
Help provide Equity necessary to leverage loan financing, or
Help take advantage of a business opportunity.
Assistance provided must:
Support the continuation of a business where lack of new investment would result in job losses,
Directly create employment, or
Improve the efficiency or Capacity of a business in order to stay competitive or access new markets.
Market and Product Development
Assistance may be provided:
For new market or product development designed to increase sales of NWT products,
To promote the NWT as a travel destination, or
To participate in trade shows (excluding attendance at conferences).
Assistance may also be provided: for the marketing of existing tourism, arts and crafts, and renewable resource products through trade show participation, print advertising, internet marketing, or similar activities.
Operational Support
Assistance may be provided to
Increase business skills and Capacity;
Identify and address problems faced by the business;
Develop a recovery or restructuring plan;
Provide emergency relief to affect business recovery; or
Assist with the cost of "winding down" a business that has a minimal net worth and cannot meet its financial obligations and which could hurt other businesses and employment opportunities if allowed to fail in a disorderly manner.
Support for Film
Assistance may be provided in the areas of Film Development, Marketing and Promotion, Film Sponsorship, and Special Partnerships. For more information on Support for Film, please visit the Support for Film webpage.

Eligibility criteria of the Entrepreneur Support (SEED) - Entrepreneur Support program:

NWT Businesses and entrepreneurs are encouraged to apply
There are minimum Equity Requirements, that are determined by the community:
Group 1 communities (Yellowknife, Hay River, Fort Smith, and Inuvik) 30% of project costs
Group 2 communities (all other communities within NWT) 20% of project costs