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Capital and Innovation Program

Program Category: Built Environment, Community Infrastructure
Program Sub-Category: Food Security, Economic Development, Innovation
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Status: Closed


Island Coastal Economic Trust (ICET)

Deadline Details

The spring 2024 application deadline is May 17, 2024.

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 Capital and Innovation Program supports the development of vital regional and community-based public amenities and services to support sustainable economic diversification and growth, innovation, as well as enhanced quality of life. Funds are invested in initiatives that enhance the region’s competitive position in key sectors including energy. technology and innovation, small business, tourism, agriculture and aquaculture, transportation, forestry, energy, mining and economic development.
The Capital and Innovation Program supports the development of incremental economic diversification infrastructure and innovation leadership with targeted funding streams:
  1. Industry and Business Support
  2. Downtown Revitalization
  3. Strategic Tourism Infrastructure
  4. Destination Trails
  5. Innovation Infrastructure
  6. Innovation Support

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


Professional Input Required


Other Eligible Applicants

Indigenous Economic Agencies
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.
  • Up to $100,000 for Capital and Innovation Program (Innovation Support funding stream)

Percentage of Project Funded

There are 3 levels of matching funding:
1:1 (50%) for smaller, remote and formerly resource dependent communities
1:2 (33%) which is intended for rural and small to mid-sized communities experiencing relative growth and economic prosperity
1:3 (25%) which is intended for larger urban communities or communities experiencing advantageous economic growth and opportunities  

Eligible Costs

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
Building Purchase Costs
Administration Fees
Staff Costs
Land Acquisition

Reporting Requirements

Progress reports and final reports

Expected Timeframe for Funding Decision

2 months