Northwest Territories Small Business Grants (2024): 95+ Business Grants, Government Loans in the Northwest Territories
Starting, or growing a small business in NWT, while exciting, can also be a challenging journey. One of the elements that can have a major impact on the success of your business, is access to funding.
Luckily, the province of NWT, offers a number of great business grants, government loans, tax breaks and incentives to help small businesses and to support entrepreneurs at different stages of their business development.
These business grants and funding options can provide a financial boost that is required to turn innovation into a reality, expand operations and overcome the unexpected challenges of business ownership.
Join us as we explore all available Northwest Territories business grants for 2024.
We will be looking at the regions in Northwest Territories which will be able to provide you with the funding, the different types of funding available, what the funds can be used for, eligibility criteria as well, your access to over 95+ business grants, government loans..etc
Access 95+ Business Grants and Government Loans in the Northwest Territories
Access 95+ Business Grants and Government Loans in the Northwest Territories
Are Northwest Territories Business Grants and Funding Right For You
If you are considering starting a business, or have an existing business in Northwest Territories , you should consider government funding.
Remember, government funding does not meant just borrowing money (via Loan), but utilizing provided funding options such as government grants, incentives, tax breaks, credits..etc, towards the various expenses you may have in order to grow your business.
The benefit of being in Northwest Territories , or the above mentioned regions of Northwest Territories is that the government puts a lot towards the success of entrepreneurship, covering many audience types, including Startups, Women, Immigrants, Youth, Indigenous, Veterans, Minority Owned Businesses, Non Profits, Specific Regions as well as those in Specific Industries.
In other words, if you are a Canadian (or have PR); or are in business with a Canadian Citizen (or PR holder) and in need of funding support, chances are you are eligible for certain Northwest Territories business grants and government funding programs.
With that in mind, you must have expenses that you’d like to cover. Have a look at the below, to see what Northwest Territories small business grants can be used for!
What Can Northwest Territories Small Business Grants Be Used For?
Northwest Territories business grants and funding options can be used to cover a number of startup and expansion costs as you run your business. Here are some of the more commonly used user cases as how to benefit from the available funding:
☑️ To cover the initial startup and/or expansion costs
☑️ To assist you with purchase of tools, equipment and inventory to lower your initial costs
☑️ To help you adopt technology use in your business and get your business online
☑️ To provide you costs for marketing and advertising campaigns, or hire marketing related assistance
☑️ To give you working capital for the every day, day to day expenses
☑️ To cover the cost of wages for yourself, your staff and provide training
☑️ and much more
These are just a few of the expenses that Northwest Territories business grants and funding can be used towards. For a full list, access the Funding Database and take advantage of over 1,500 different options, covering hundreds of possible expenses your business may have.
What are the types of government funding options in the Northwest Territories ?
Access 95+ Business Grants and Government Loans in the Northwest Territories
The province of Northwest Territories , including the mentioned local and regional government offices provide a large number of options for small business owners to take advantage of. These options vary from business to business, however the majority will come in the form of business grants, business loans and tax breaks/credits.
While these funds are all government funds, some can be government backed as well (via banks and lenders).
Northwest Territories Business Grants
Business grants, considered free money is often the best form of funding that a business owner can obtain as it can give a business several key benefits, including:
Government grants in Northwest Territories offer several benefits for businesses, including:
- Non-Repayable Funding: These are grants that do not need to be repaid, unlike loans, which helps businesses manage cash flow and reduce financial burden.
- Financial Support: These business grants provide crucial financial support, allowing businesses to invest in growth, innovation, and development without impacting their capital reserves.
- Risk Mitigation: Accessing these business grants reduces the financial risk associated with new projects, research and development, or expansion plans.
- Competitive Advantage: Government grants can enhance a business’s competitive edge by enabling investments in new technology, skilled labor, and market expansion.
- Encourages Innovation: Grants often target innovative projects, helping businesses develop new products, services, or processes that can lead to significant market advantages.
- Improves Credibility: Receiving a government grant can enhance a business’s credibility with investors, customers, and partners, as it demonstrates government support and validation of the business’s potential.
- Access to Expertise: Many grant programs offer additional resources such as mentorship, networking opportunities, and access to industry experts, which can be invaluable for business growth and development.
- Job Creation: These business grants aimed at job creation help businesses hire more staff, contributing to local economic development and increasing the company’s operational capacity.
Northwest Territories Government Loans
Much like traditional bank loans, Northwest Territories government loans are not different in a standard sense that you are still borrowing money, however, government loans have number of key benefits to a business owner utilizing them, including:
- Lower Interest Rates: Government loans often come with lower interest rates compared to traditional bank loans, making them more affordable and reducing the overall cost of borrowing.
- Flexible Repayment Terms: These loans typically offer more flexible repayment terms, allowing businesses to choose repayment schedules that align with their cash flow and financial situation.
- Access to Larger Amounts: Government loans may provide access to larger amounts of capital than other funding sources, enabling businesses to undertake significant projects or expansions.
- Support for Specific Sectors: Many government loan programs are tailored to support specific industries or sectors, providing targeted financial assistance to businesses in those areas.
- Encourages Investment in Innovation: Government loans often support innovation and development projects, helping businesses invest in new technologies, research, and development efforts that can drive growth and competitiveness.
- Boosts Business Credit: Successfully securing and repaying a government loan can help build and improve a business’s credit history, making it easier to obtain additional financing in the future.
- Job Creation and Economic Growth: Government loans can facilitate job creation and contribute to local economic development, benefiting both the business and the wider community.
- Supplementary Support: In addition to financial assistance, government loan programs may offer supplementary support such as business advisory services, mentorship, and networking opportunities.
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Less Stringent Requirements: Government loans may have less stringent eligibility and collateral requirements compared to private sector loans, making it easier for small and medium-sized businesses to qualify
Access 95+ Business Grants and Government Loans in the Northwest Territories
Northwest Territories Tax Breaks / Tax Credits For Small Businesses
One of the easier funding types offered by the government of Northwest Territories and the federal government is the available tax breaks and credits. These tax breaks and credits directly reduce the amount of taxes a business owes, resulting in significant cost savings that can be reinvested into the business.
By lowering tax liabilities, businesses retain more of their earnings, improving cash flow and financial stability. This also can encourage businesses to invest in new equipment, research and development, employee training, and other growth initiatives that might otherwise be cost-prohibitive.
No matter of the type of funding, be it a government business grant, a government loan, or a tax break/credit, as a startup or growing business, you should regularly check available government funding options in Northwest Territories and take advantage of them.
How Much Grant Money Or Funding Can I Get For My NWT Business
Our Funding Database currently has over 1,500 different funding options available.
A typical business owner in NWT, starting up, or expanding their business, will be eligible to 4-5 different options. Multiple more options, if regular funding searches are conducted (this is done by our experts for you).
Funding amounts and how much you can get in grant funding varies from business to business, as it is based on your specific funding needs, in accordance to the expenses that you wish to cover.
Currently, for 2024, business grants and funding ranges from $1,000 to $500,000 (larger options are available when combined)
Access 95+ Business Grants and Government Loans in the Northwest Territories
Am I Eligible for NWT Small Business Grants?
Based on the current availability of government grants for small businesses in NWT, there are key factors that can determine eligibility. Not all factors apply to every program, but worth noting to help maximize your access to grants and funding.
☑️Business Location (often your city or region)
☑️Business Type (ie: your industry)
☑️Business Stage, or Business Size (new business, existing business, # of employees and revenue)
☑️Funding Needs (what the funds will be used for)
☑️Economic Impact (what your business can do for the economy; ie: create jobs)
It is important to note: Most cities and regions within NWT, offer some sort of government business grants and funding options to startups and existing business owners. While not every single business can get funds for every single type of expense, working with a funding expert can unlock potential to these options for you.
As mentioned, using our Funding Database, a typical business in NWT is eligible to 4-5 funding options!
2024 NWT Small Business Grants and Funding List – 95+ Options
Government funding options are constantly changing.
New city and regional options are constantly closing; and new incentives are coming in. Staying on top of these funding options is crucial to ensure you don’t miss any business grants and funding options for the rest of 2024.
Below is a list of over 95+ business grants, government loans and funding options that can help your small business in NWT.
If you wish to consider any of the options, speaking with a qualified expert is recommended – call 1-800-288-9691.
Access 95+ Business Grants and Government Loans in the Northwest Territories
Prospecting Support Program (SEED) | $5,000 |
Funding opportunity for local prospectors looking to identify the NWT’s next big mineral
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Prospecting Support Program | $6,000 |
Provides funding to local prospectors looking to identify the NWT’s next big mineral find by investing in the tools, equipment, and activities necessary to prospect.
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Northern Business Relief Fund | Various amounts | Financial support for SMEs in Northern Canada. |
Entrepreneur Support (SEED) – Support for Film | $25,000 |
Self-employed film producers in the Northwest Territories may be eligible for funding up to $5,000 for film development, $15,000 yearly for marketing, and/or $15,000 yearly for film sponsorship.
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Small Tool Grants | $2,500 | Funding for artists and craftspeople. |
Voyager Capital | Various amounts |
Driving innovation and taking risks in creating new markets is exciting. Voyager thrives on working with early-stage entrepreneurs to take this journey together.
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Entrepreneur Support (SEED) | $25,000 | Up to $25,000 in funding for NWT entrepreneurs |
Canada-Northwest Territories Job Fund | $10,000 |
The Canada- Northwest Territories Job Fund supports the development of workplace skills and skills development training in the Northwest Territories. The Canada-Northwest Territories Job Grant is a part of the Fund, and provides training grants of up to $10,000 per trainee to assist employers in providing their choice of employees and new hires with the skills training required to do their jobs.
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Accelerate Digital Adoption Projects for Tomorrow (ADAPT) Fund | $5,000 | Accelerate Digital Adoption Projects for Tomorrow (ADAPT) Fund |
NOHC-Investment Grow Stream | $1,000,000 |
The program provides funding to encourage business productivity as well as expansion in Northern Ontario.
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Community Futures NWT | $150,000 |
An initiative created to assist the economic development in communities throughout various regions of the Northwest Territories.
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Entrepreneur Support (SEED) – Market Development and Product Promotion | $15,000 |
The purpose of the program is to provide $15,000 assistance to businesses selling new or existing products from the Northwest Territories, and/or to support product development that would increase sales of NWT products to new markets.
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Training on the Job | $15,600 |
The program provides wage subsidies for employers in the Northwest Territories to hire and train new workers.
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Strategic Investments in Northern Economic Development (SINED) – Targeted Investment Program | Various amounts |
This program seeks out potential investment opportunities for projects lasting two years in the areas of building an economic knowledge base, enhancing economic infrastructure, increasing the economic development capacity of various organizations, and diversifying the economy throughout the Northern regions.
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Strategic Investments in Northern Economic Development (SINED) – Partnership and Advisory Forums | Various amounts |
This funding aims to increase the knowledge and skills of various individuals and organizations involved in Northern economic development through increased coordination amongst partners.
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Pitch for the Purse | Various amounts | Pitch competition win seed funding for female founders |
Funding For Canadian Small Businesses | $300,000 |
Funding is available for Canadian SMEs across numerous industries.
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LaunchPad | Various amounts |
This program is for businesses in other jurisdictions that want to set up operations in PEI.
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Business Development Project Fund (BDPF) | $2,600 |
The Business Development Project Fund provides funding for start-up expenses, expansion, raw materials (for arts and crafts production) and short-term projects that create employment in the Northwest Territories. You can apply for up to $10,000 over a five-year period. Businesses in Level II communities are able to apply for up to $20,000.
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Entrepreneur Support (SEED) – Asset Acquisition | $15,000 |
Northwest Territory businesses in Group 2 communities may be eligible for $15,000 in funding to purchase capital items for business operation and/or help with loan leveraging where other assistance is not available.
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Support for Entrepreneurs and Economic Development (SEED) | Various amounts |
Offers financial support to assist entrepreneurs and small communities in the Northwest Territories.
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BDIC Term Loans | $25,000 |
The purpose of BDIC is to promote financial independence, assist communities in capturing economical development opportunities and help develop a diverse and viable northern economy.
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Business Intelligence and Networking (SEED) | $8,000 | Funding opportunity for NWT businesses to network globally |
Strategic Investments in Northern Economic Development (SINED) – Pan-Territorial Fund | Various amounts |
The Fund supports projects involving multiple territories (or a territory and one or more provinces) related to areas within the territories to promote inter-jurisdictional cooperation for shared economic interest.
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Entrepreneurship and Business Development Fund | $3,000,000 |
Financial support to Aboriginal entrepreneurs, businesses, and commercial entities to expand their business in Yukon, Nunavut and Northwest Territories.
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Entrepreneur Support (SEED) – Start-Up Funding | $15,000 |
Northwest Territory start-up businesses that have a good probability of increasing local or regional sales are eligible for up to $15,000 per year in assistance for business planning and developmental costs.
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Entrepreneur Support (SEED) – Entrepreneur Support | $25,000 |
The program provides $15,000 funding to assist existing Northwest Territories businesses in increasing their capacity and relevant business skills.
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Strategic Investments in Northern Economic Development (SINED) – Innovation and Knowledge Fund | Various amounts |
This Fund supports territorial residents engaged in science, technology, innovation, and research activities in the North.
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Northern Food Development Program | Various amounts |
The Northern Food Development Program provides grant funding for farmers, greenhouse growers, harvesters and fisheries in the Northwest Territories. The aim of the program is to increase local food production and availability of NWT food products for consumers. Grants may be used towards eligible expenses related to agriculture or fisheries, and for traditional harvesting and marketing support costs.
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Agriculture and Human Resources – Agriculture Development | $10,000 |
The Agriculture & Human Resources program supports the NWT agriculture industry through two streams of funding. One of these streams provides funding for agriculture development projects that enhance regional development and contribute to sustainability.
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Agriculture and Human Resources – Human Resource Development | $10,000 |
The Agriculture & Human Resources program supports the NWT agriculture industry through two streams of funding. One of these streams supports individuals and organizations who want to attend or conduct agricultural training, workshops, seminars, and conferences. A maximum of $10,000 (within NWT) and $5,000 (outside NWT) is available per application.
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Market Development Program | $10,000 |
The Market Development Program supports the NWT agriculture industry by providing funding to cover marketing, promotion and shipping costs with the aim of making the NWT agriculture sector more competitive.
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Agricultural Awareness Initiative | $5,000 |
Offers funding to agribusiness in the NWT to develop and implement agriculture awareness and educational activities.
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Commercial Fisheries Industry Support Program | $75,000 |
The Commercial Fisheries Industry Support Program offers grant funding to help commercial fisheries in the Northwest Territories offset high freight and production costs. Funding is provided through five streams, including new entrants in fish harvesting and expansions, two support programs for fish harvesters, and a core funding program for operational and maintenance costs.
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AgriInvest | Various amounts |
AgriInvest is one of the business risk management programs the Sustainable Canadian Agricultural Partnership (Sustainable CAP)
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Agriculture and Agri-Food Research | $10,000 |
The Agriculture & Agri-Food Research Program supports research studies and pilot projects. Grant funding of up to $10,000 is available for projects involving cultivation of new crops, production and processing techniques, new value-added agri-food products, or commercial feasibility of non-timber forest products.
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Agriculture and the Environment | $10,000 |
The Agriculture and the Environment Program supports projects that contribute towards the evaluation and understanding of the potential impact of agriculture on the environment. Grant funding of up to $10,000 is available for implementation of environmental farm plans, agriculture-caused environmental impact mitigation. Funding is also available for studies that collect data for soil database and production zones or seek to identify and mitigate the impact of invasive species.
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Food Security Research Grant | $131,000,000 |
The Government of Canada’s Food Security Research Grant is funding Indigenous-led projects that focus on food security and food access inequality in isolated northern communities.
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Northern REACHE Program | $300,000 |
Supporting northern and Indigenous communities in their transition to renewable, sustainable and affordable sources of energy. Northern REACHE is a part of Wah-ila-toos, a new way to improve community access to federal clean energy programming.
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Self-Employment Option | $26,000 |
The objective of the Self Employment Option (SEO) is to provide supports to individuals who would like to start a small business. Maximum duration of the Self-Employment Option is 52 weeks.
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Sector Support (SEED) – Capital Expansion Incentive | $25,000 | Funding opportunity for business expansion in NWT |
Aboriginal Business Development Program | $99,999 |
To provide residents of the Canadian North with financial assistance to start and grow a business.<br><br>Support will also be offered for business planning, start-up and marketing.
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Micro Business (SEED) | $5,000 |
Funding opportunity for licensed artists, crafters, filmmakers, commercial renewable resource harvesters, and small businesses
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Entrepreneurship and Business Development (EBD) | Various amounts |
The EBD fund provides financial support to Aboriginal entrepreneurs, businesses, and commercial entities to expand their business in the three territories. It helps applicants pursue economic opportunities that benefit Aboriginal people.
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Strategic Investments (SEED) | $75,000 |
This program provides funding to NWT businesses looking to make large investments in their company in order to expand and grow their business.
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Community Economic Development (SEED) | $25,000 | Up to $25,000 in funding for NWT organizations |
***Arts Economic Development | $25,000 |
The Arts Economic Development Program (AEDP) pilot program provides economic support for professional Northwest Territories (NWT) artists and professional NWT arts organizations that work with NWT artists, to develop new product inventory for commercial purposes and/or export their product to new audiences.
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Critical Minerals and Emerging Tech | Various amounts |
Grant funding opportunity to support development of next-generation materials, critical minerals, and end products for a more competitive, modern, and sustainable minerals and materials industry.
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Bioenergy and Circular Economy | Various amounts |
Grant funding opportunity to support projects focused on renewable fuels, waste conversion and building a circular economy in plastics
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Global Grand Challenges Network | Various amounts |
Accelerating Catalyzing Solutions for Climate Change’s Impact on Health, Agriculture, and Gender
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Humanitarian Grand Challenge: Transition to Scale | $1,500,000 |
$300,000 CAD up to $1.5 million CAD to fund groundbreaking, sustainable, and local solutions to pressing issues affecting communities touched by conflict
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Grand Challenges Canada – Transition to Scale | $3,000,000 |
$250,000 to $3 M CAD in grant funding for global health innovations
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National Arts Service Organizations | Various amounts |
Grant funding opportunity for Canadian arts service organizations with mandates to promote and support the arts on a national level.
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Representation and Promotion – Arts Across Canada | $30,000 |
Up to $30,000 of grant funding for travel linked to promotion and the development of new markets for Canadian artists and artistic works.
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Market Access Strategy for Official Language Minority Communities Fund | $60,000 |
Up to $60,000 of grant funding to support Canadian professional artists, arts professionals, artistic groups and arts organizations who self-identify as belonging to an OLMC
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Strategic Innovation Fund: Seed Grants | $25,000 |
Up to $25,000 of seed funding to kickstart small-scale innovation activities that explore and develop capacity, partnerships, and promising innovation ideas.
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Search and Rescue New Initiatives Fund | Various amounts |
Grant funding for projects that will improve Canada’s search and rescue system
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Canada Digital Adoption Program | $15,000 | Up to $15,000 in grant funding for Canadian SMEs |
R-LABS Entrepreneur-in-Residence | Various amounts | Funding opportunity for real estate entrepreneurs |
Safe x Connected Cities Accelerator | Various amounts |
Safe x Connected Cities Accelerator – Funding opportunity for innovative startups
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Arts Festivals and Presenters – Arts Across Canada | Various amounts |
Grant funding opportunity for Canadian arts organizations to present and exhibit quality art and literary works to Canadian audiences
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Artistic Institutions – Engage and Sustain | Various amounts |
Grant funding opportunity for major Canadian arts organizations rooted in their communities and dedicated to supporting artists and a variety of arts practices
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Artistic Catalysts – Engage and Sustain | Various amounts |
Grant funding opportunity for Canadian arts organizations that play a pivotal role in nurturing artistic practices and respond to the evolution of creative communities across Canada
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Thrive Impact Fund | $700,000 | Up to $700k in loan funding for impact driven companies |
Canada-UK Critical Minerals: Sustainability and Circularity | $500,000 |
Up to $500,000 in grant funding for Canadian SMEs looking to start joint R&D projects focused on driving circularity in critical minerals
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Access Support – Strategic Funds | Various amounts |
Grant funding opportunity for individual applicants who self-identify as Deaf, having disabilities or living with mental illness, as well as groups and organizations that dedicate the majority of their resources towards supporting these communities
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Digital Greenhouse | $50,000 |
Up to $50,000 in grant funding to support short-term projects that leverage digital technology
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Digital Generator | $40,000 | Up to $40,000 of grant funding for artistic groups and collectives |
Cultivate Grants | $250,000 |
Up to $250,000 in funding to implement, pilot and prototype innovation projects that address systemic issues and benefit the broader arts sector.
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GMF funding | Various amounts |
Grant and loan funding for sustainability projects that help municipalities adopt climate solutions faster
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Newcomer Entrepreneur Accelerator Program | Various amounts | Accelerator program for newcomer-owned start-ups |
Velocity Fund | Various amounts | Funding opportunity for innovative startups |
Venture Ready (VR) Pre-Incubator Program | Various amounts | Funding and mentorship opportunity for early-stage start-ups |
Techstars Remote Accelerator | $120,000 | Funding & mentorship opportunity for innovative startups |
Business purchase or transfer financing | Various amounts | Financing opportunity for merger and acquisitions |
Financing for tech companies | Various amounts | Funding opportunity for tech businesses |
Working capital financing | $350,000 | Up to $350,000 in loan funding for working capital |
Climate Tech Fund II | Various amounts | Funding opportunity for clean tech startups |
Creating, Knowing and Sharing Program | Various amounts |
Mentorship and grant opportunity for First Nations, Inuit and Métis-owned organisations in the arts industry
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Explore and Create – Research and Creation | $25,000 |
Up to $25,000 in grant funding for artistic organisations to invest in R&D
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Women Entrepreneurship Loan Fund | $50,000 | Funding opportunity for Indigenous women entrepreneurs |
Kensington Capital Partners | Various amounts | Funding opportunity for innovative startups |
Timia Capital | Various amounts | Funding opportunity for innovative startups |
League of Innovators Labs Accelerator Program Batch 11 | Various amounts |
Mentorship and funding opportunity for young entrepreneurial leaders
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Canada-UK: Biomanufacturing of Biologics and Advanced Therapies | $900,000 |
Up to $800,000 in funding for innovative technology that enables flexible, scalable, efficient and cost effective manufacturing of novel biological therapeutic products and delivery systems.
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Good Fashion Fund | $2,500,000 | Funding opportunity for sustainable fashion startups |
Closed Loop Plastics Fund | Various amounts |
Funding opportunity for startups focused on the recovery and recycling of plastics
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Closed Loop Ventures Group | Various amounts |
Funding opportunity for innovative startups in the circular economy
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Vevolution Collective | Various amounts |
Funding opportunity for plant-based and cellular agriculture startups
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The Drive Ventures | $250,000 | Up to $250,000 in funding for innovative startups |
Housing Accelerator Fund | Various amounts |
Supports the development of complete, low-carbon and climate-resilient communities that are affordable, inclusive, equitable and diverse.
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The Canada Fund for Local Initiatives | $31,000 |
Up to $31,000 in grants for small-scale, high-impact projects abroad
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The Momentum $1,000,000 Challenge | $1,000,000 | Up to $1,000,000 in funding for promising startups |
Canada-Germany Digital Media Incentive | $300,000 | Up to $300,000 in funding for digital media projects |
Canada–France Co-development and Co-production Incentive for Interactive and Immersive Digital Media Projects | $150,000 |
Up to $150,000 in funding for virtual and augmented reality projects
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