Regional Development Fund — Regional Development Program
Highlights
This program is designed for you to support economic development and innovation in your region. It offers non-repayable contributions to help you implement economic initiatives. This means you can receive funding without the need to pay it back, making it a valuable resource for your business growth.
Key Benefits:
- Non-repayable contributions up to 25% of total eligible costs.
- Focus on infrastructure, capacity building, marketing, and research.
- Minimum contribution from you is only 10% of the total project cost.
What's in it for you?
- Financial assistance to support your business development and diversification.
- Access to training and industry development sessions to enhance your organizational skills.
- Support for non-commercial activities that link to economic diversification and business development.
Applying is straightforward, and the program is tailored to help businesses like yours thrive. Take advantage of this opportunity to secure funding and drive your business forward.
Financing Details
Type of Financing: Non-repayable Contribution
Repayment Terms and Interest Rates:
- As this is a non-repayable contribution, there are no repayment terms or interest rates.
Eligible Expenses:
- Infrastructure projects
- Capacity building initiatives
- Marketing activities
- Research projects
Ineligible Expenses:
- Commercial activities
- Any expenses not directly linked to economic diversification and/or business development
Fees:
- There are no fees associated with this program.
Qualifications
- Must be a non-profit organization.
- Must be incorporated.
Eligible applicants include:
- Industry associations
- Municipalities
- Public educational institutions
- Other non-profit groups, including co-operatives and economic development organizations
Disqualifications:
- Federal government departments and agencies
- Provincial government departments and agencies
Description
This program offers non-repayable contributions to support economic development, innovation, and capacity building in your region. Your business can receive up to 25% of the total eligible project costs through this funding. You need to contribute at least 10% of the project cost.
You can use this money for various purposes such as:
- Building infrastructure
- Enhancing capacity
- Marketing efforts
- Conducting research
Additionally, if you're part of a non-profit organization, you can get up to $5,000 for regional projects and $10,000 for provincial projects per year. This funding can be used for training and development sessions focused on strategy, planning, relationship building, organizational skills, and co-operative development.
This program is a great opportunity to boost your business's growth and development without the burden of repayment.
Program Steps
Download the Application Form: Access the application form for the program from the official website. You can choose between the "Application for Non-Commercial Programs" or the "Application for Non-Commercial Programs – Fillable PDF."
Prepare Documentation: Gather the necessary documents to support your application. This includes:
- A detailed project proposal
- Financial statements
- Proof of incorporation
- Any other relevant documents that demonstrate your project’s alignment with the program’s objectives
Complete the Application Form: Fill out the application form with accurate and detailed information about your organization and the proposed project. Ensure all sections are completed thoroughly.
Review Applicant Guidelines: Refer to the "Applicant Guidelines for Writing Regional Development Program Proposals" or "Applicant Guidelines for Writing Community Capacity Building Proposals" to ensure your application meets all requirements.
Contact IET Office: If you need assistance or have any questions regarding the application process, contact the Industry, Energy and Technology (IET) office nearest to you for guidance.
Submit the Application: Once the application form is completed and all required documents are prepared, submit your application to the designated address provided by the program.
Await Review and Approval: Your application will be reviewed by the program administrators. They may contact you for additional information or clarification during the review process.
Receive Funding Decision: If your application is approved, you will receive a notification detailing the terms of the funding, including the amount awarded and any conditions that must be met.
Implement the Project: Upon receiving the funds, proceed with the implementation of your project as outlined in your proposal. Ensure compliance with any reporting requirements specified by the program.
Report Progress: Regularly update the program administrators on the progress of your project and submit any required reports or documentation as specified in the funding agreement.