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Capital and Innovation Program

Program Category: Clean Energy, Built Environment, Climate Mitigation, Community Infrastructure
Program Sub-Category: Renewable Energy, Food Security, Environmental Stewardship, Economic Development, Innovation
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Status: Open

Funder

Island Coastal Economic Trust (ICET)

Funder Organization Type

  • Trust

Regional Limitations

This is a regional program and only supports communities in its service area.

(See the Map)

Details can be found in the program summary and on the program’s website.
 
The primary goals of the Capital and Innovation program are to:
 
  • Grow and diversify inclusive local and regional economies.
  • Spur new investment by First Nations, local governments, private industry, social enterprises, and the provincial and federal governments through collaborative partnerships.
  • Create new revenue streams that will be re-invested into projects and communities.
  • Increase climate resiliency.
  • Build long-term assets that are financially sustainable.
 
Each project must create positive economic impact and tangible outcomes that strengthen peoples’ wellbeing in one or more of the Trust’s focus areas:
 
  • Food Security and Agrifood    
  • Cultural and Nature-based Tourism
  • Entrepreneurs and Local Businesses    
  • Innovation and Technology
  • Renewable and Low Carbon Energy
  • Regenerative Forestry
  • Transportation and Logistics
  • Training and Advanced Education
 
Key elements of the projects the Trust can fund:
 
  • Public and community-owned capital projects that contribute to economic diversification and community wellbeing.
  • Collaborative projects with multiple partners who foster inclusive economic development.
  • Financially sustainable initiatives that demonstrate high standards of financial management, accountability, and transparency.
  • Initiatives integrating environmentally sustainable practices, contributing to climate resilience, and building a low-carbon economy.
  • Projects that have a social license with First Nations governments and local governments.
  • Projects that positively benefit existing local businesses and that create opportunities for new collaboration and growth.
  • Projects that foster diversity, inclusion and promote equitable opportunities. 

Eligible Community

Local and Regional Governments
Indigenous Communities
Non-profit Societies
Community Contribution Companies (C3)
Other non-profit organizations involved in economic development such as airport authorities, harbour authorities, industry associations, sectoral organizations or educational institutions 

Regional Limitations

Yes (See the Map)

Required Community Contribution

No community contribution required

Funding Stacking Restrictions

No

Professional Input Required

No

Other Eligible Applicants

Indigenous Economic Agencies
Indigenous-owned Businesses
Indigenous Organizations
Non-governmental Organizations / Not-for-Profits
Economic Development Agencies
Academic Institutions

Type of Funding

  • Non-repayable Contribution

Range of Funding Available per Project

  • Under $100 000
  • From $100 000 to $1 000 000

Description of Funding

  • Up to $200,000 for the Capital and Innovation Program.

Percentage of Project Funded

The Trust can fund a proportion of the total project budget up to $200,000 based on the population size of the community the project is located in.
  • 1/2 (50%) of eligible costs for communities with populations under 5,000
  • 1/3 (33%) of eligible project costs for communities with populations 5,000 to 20,000
  • 1/4 (25%) of eligible project costs for communities with populations over 20,000

Eligible Costs

Engineering
Design
Capital Costs
Equipment/Material Purchase
Project Management

Direct project implementation costs will be reimbursed. Costs must be reasonable and accurately assessed. 

Ineligible Costs

Any costs incurred prior to signing a funding agreement
Administration Fees
Staff Costs
Land Acquisition

Reporting Requirements

Progress reports and final reports

Expected Timeframe for Funding Decision

Funding decisions are made by the Trust’s Board of Directors three times each year, or until the board has fully committed the annual program budget to projects. Should the program be fully committed before year-end, we continue to accept new funding applications, however decisions are deferred until the next fiscal year (starting April 1).