Investment Readiness Program
Funder
Island Coastal Economic Trust (ICET)
Deadline Details
Continuous Intake
Funder Organization Type
- Trust
Regional Limitations
This is a regional program and only supports communities in its service area.
(See the Map)Through the Investment Readiness Program, the Trust invests in communities of all sizes to undertake vital local and regional initiatives that will attract new investment, build long-term economic development capacity, and provide value-added services or systems for local businesses. The Trust can provide up to $30,000 to cover up to 50% of eligible costs through four funding streams: project development, sector development, economic development strategies, and regional collaboration. Primary Goals
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Empower rural and First Nations communities to develop and derisk large-scale projects by producing investment-ready capital expenditure and business plans.
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Form long-term economic development strategies with communities that have not created an economic development strategy in the past ten years.
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Develop new and emerging sectors within the coastal economy by focusing on innovation, technology, and natural resource stewardship.
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Spur regional initiatives focused on sustainable development opportunities among multiple First Nations governments, local governments, non-profits, and the private sector.
Eligible Community
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Local and Regional Governments
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Indigenous Communities
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Non-profit Societies
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Industry Associations and Sectoral Organizations
Regional Limitations
Yes (See the Map)Funding Stacking Restrictions
No
Professional Input Required
No
Other Eligible Applicants
Indigenous Economic AgenciesIndigenous 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
Description of Funding
Up to $30,000 to support economic development capacity building and investment readiness.
Percentage of Project Funded
Eligible Costs
PlanningCommunity Engagement
Project Management
Capacity Building for the Community
The Investment Readiness Program offers four funding streams:
1. Project Development
We empower rural and First Nations communities to develop and de-risk large-scale projects by producing investment-ready capital expenditure and business plans.The strategic intent of this stream is for the Trust to partner in the development of project plans for future investment by the Trust. This will also position rural and First Nations communities to attract significant new private and public investment.
2. Sector Development
The strategic intent of this stream is for the Trust to partner in the development of new economic sectors to increase productivity, competitiveness, local tax bases, employment, and quality of life for residents.
3. Regional Collaboration
The strategic intent of this stream is for the Trust to partner in the development of innovative collaboration between communities, the non-profit sector, and private industry to (a) unlock potential for major new investments into the coastal economy and (b) undertake innovative new approaches to sustainable economic development.
4. Economic Strategy
The strategic intent of this stream is for the Trust to partner in the development of economic development strategies to unlock new potential for island and coastal communities to attract significant new private and public investment. Funding may be used to support outreach, research, planning, asset mapping or other activities required to develop formal, actionable economic development strategies.
Up to $30,000 to support economic development capacity building and investment readiness.
Ineligible Costs
Any costs incurred prior to signing a funding agreementBuilding Purchase Costs
Administration Fees
Staff Costs
Land Acquisition
Reporting Requirements
Final report only
Expected Timeframe for Funding Decision
2 monthsFinal decision within 60 days of receiving a complete application.