In March 2021, the Department of Industry Tourism and Investment (ITI) launched an engagement survey to residents around the equity requirements and market disruption clauses of its Support for Entrepreneurs and Economic Development (SEED) Policy.

We’ve had an impressive response so far and we’re grateful to everyone who submitted their responses. If you haven’t had a chance to send in your thoughts, don’t fret – you have until 5pm Friday, June 18 to do the survey.

Click here to have your say

About SEED

SEED programs are a key part of the GNWT’s ongoing commitment to invest in a diverse, sustainable NWT economy.

We’re committed to making the changes needed so our policies and guidelines are providing the supports that NWT businesses need to take part in today’s COVID-impacted economic reality, while also recognizing that different circumstances and opportunities exist across the NWT.

Read More:

$4 million Support for Entrepreneurs and Economic Development (SEED) Program Budget to Focus on Business Recovery

Three things to Know about our 2020-21 SEED Programming

Equity Requirements

Currently, the SEED Policy requires applicants to provide some level of cash equity in a project to secure funding from a SEED program (the minimum requirement varies by community). In some cases, this equity component can be waived or collected in the form of sweat equity.

Should applicants be required to put equity into a project? If so, what is the right amount? Should the use of sweat equity be expanded? Is there something else that we need to consider?

What do you think? Click here to have your say

Market Disruption

Should the SEED program support one business over another if they serve a common market? Should SEED be allowed to help a new or outside business compete in a community where a local business is already operating?

What do you think? Click here to have your say
 

ITI invests almost $4 million annually under its SEED policy in companies, communities, and projects across the NWT. 

In recent years, ITI has increased the amount of funding available to individual applicants under the SEED policy and introduced a new stream of strategic economic support that will advance economic development and diversification.

Grants and Contributions Results Report 2019-2020

The Department of Industry, Tourism and Investment provides more than $17M in grants and contributions annually across multiple sectors in the north.