Capital and Innovation Program
Funder
Island Coastal Economic Trust (ICET)
Deadline Details
Next Deadline: February 17th 2023. Additional application deadlines in 2023 will be May 12 and October 20.
Funder Organization Type
- Trust
The Capital and Innovation Program supports the development of incremental economic diversification infrastructure and innovation leadership with targeted funding streams:
- Industry and Business Support
- Downtown Revitalization
- Strategic Tourism Infrastructure
- Destination Trails
- Innovation Infrastructure
- Innovation Support
Eligible Community
Local and Regional GovernmentsIndigenous CommunitiesNon-profit SocietiesCommunity 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
Type of funding
- Non-repayable Contribution
Range of funding available per project
- Up to $100,000
- From $100,000 to $1,000,000
Description of funding
- Up to $300,000 for the Capital and Innovation Program (Industry and Business Support Stream, Strategic Tourism Infrastructure funding stream and Innovation Infrastructure funding stream)
- Up to $200,000 for the Capital and Innovation Program (Downtown Revitalization funding stream, Destination Trails funding stream)
- 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
Engineering, Design, Capital Costs, Equipment/Material Purchase, Project ManagementIneligible costs
Any costs incurred prior to signing a funding agreement, Building Purchase Costs, Administration Fees, Staff Costs, Land AcquisitionReporting requirements
Progress reports and final reports