Community Economic Development Fund
Highlights
This program is a fantastic opportunity for your organization to secure funding for projects that enhance economic competitiveness and productivity. By applying, you can access financial support to develop initiatives that benefit your sector or community. This funding can help you build partnerships, drive innovation, and create long-term benefits for your industry.
What You Get
- Funding for sector development and economic diversification
- Support for workforce competitiveness and applied research
- Resources for pilot projects and other impactful initiatives
Why Apply?
- No cost to apply: There are no fees associated with the application process.
- Broad impact: Your project can create widespread benefits for your sector or region.
- Partnership opportunities: Collaborate with private sector, academic institutions, and non-profits.
- Long-term benefits: Ensure sustainable growth and competitiveness for your industry.
Ease of Application
- Simple process: Complete the application form and submit required documents.
- Quick confirmation: Receive acknowledgment within one week of submission.
- Timely decisions: Find out if your project is approved within 10 to 12 weeks.
Applying for this program can provide the financial boost your organization needs to make a significant impact.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Sector development initiatives
- Economic diversification projects
- Workforce competitiveness programs
- Applied research and development
- Pilot projects
Use of Funds:
- Funds can be used towards projects that increase economic competitiveness and productivity.
- Projects must demonstrate partnerships and create widespread benefits for a sector or industry within Nova Scotia.
Restrictions:
- Funds cannot be used for projects that do not benefit the public.
- For-profit businesses are not eligible for funding.
Fees:
- There are no fees associated with applying for this grant.
Qualifications
- Must be a non-profit organization, industry association, sector organization, social enterprise, municipality, academic institution, or other organization that benefits the public.
- Must be located in Nova Scotia.
- Must demonstrate partnerships with other organizations, which can include the private sector, academic institutions, and non-profit organizations.
- Must create or develop widespread benefits for a sector or industry within Nova Scotia.
- Must describe metrics for success and a method to monitor progress.
- Must demonstrate long-term benefits for a specific sector or industry within Nova Scotia.
Must demonstrate a combination of proven leadership, financial capital, and human capital in the project.
Disqualifications:
- For-profit businesses are not eligible for funding.
Description
This program offers funding to help your business become more competitive and productive. You can receive financial support for projects that benefit your sector or community. The funding can be used for various initiatives, including sector development, economic diversification, workforce competitiveness, applied research, and pilot projects.
There is no cost to apply, and the fund is open for applications three times a year. If your project is approved, you will receive funding that can help you form partnerships, improve productivity, and create long-term benefits for your industry.
The evaluation criteria are straightforward. Your project should demonstrate partnerships, show how it will improve competitiveness, and outline clear metrics for success. This is a great opportunity to secure financial support and drive meaningful growth for your business and community.
Program Steps
Review the Application Guide: Start by thoroughly reading the Community Economic Development Fund Application Guide. This will provide you with detailed instructions and important information about the application process.
Complete the Application Form: Fill out the Community Economic Development Fund Application Form. Ensure all sections are completed accurately.
Prepare Supporting Documents: Gather all necessary documentation to support your application. This includes:
- Total cost of the proposed project
- Financial and in-kind funding sources (both approved and declined)
- Risks that can impact the success of the project
- Information on how the organization’s profits are used to benefit the public
- Information on how the proposed project will improve economic competitiveness and productivity
- Information on how you will measure success and monitor progress
- Long-term benefits this project will have in Nova Scotia
- Description of proven leadership, and financial and human resources required for the project
- External financial statements or a business plan (if needed)
Complete a Project Proposal: Write a detailed project proposal that outlines your project’s objectives, methods, expected outcomes, and how it meets the fund’s criteria.
Submit Your Application: Send your completed application form, supporting documents, and project proposal by mail, fax, or email to the Community Economic Development Fund.
Confirmation of Receipt: Wait for confirmation from the Community Economic Development Fund that they have received your application. This should happen within one week of submission.
Application Assessment: The Community Economic Development Fund Board will review your application and supporting documents. They will assess whether your project meets the funding criteria.
Notification of Decision: You will be informed if your project will receive funding. This process typically takes 10 to 12 weeks, but it can take longer if additional information is needed or if the application is incomplete.