Investment Readiness Program
The READY Capacity Building Program provides funding to support economic development capacity building and investment readiness. Funding can be used to access expertise or resources which are not available within the organization and to fund initiatives which are incremental to the organization’s day to day business and activities.
Grant Deadline
Deadline not available
Funding Amount
$30,000
Type of Grant
Grant
Sectors
Educational Services, Community
Demographics
Indigenous
Incorporation
Non Profit, Government Institution, Charity
Perks
Region Restriction
This grant is restricted to whole of Canada
Keywords
Age Restriction
This grant is age restricted from 18 to 100
Eligibility and Requirements
WHO CAN APPLY
- Ì Local and Regional Governments
- Ì Indigenous Communities
- Ì Non-profit Societies
- Ì Industry Associations and Sectoral Organizations
* Economic development strategies require formal support by the local government or Indigenous community.
WHERE PROJECTS CAN BE LOCATED
Applicant organizations may be located outside the Trust area, but must demonstrate that the project and its key benefits are in the ICET region. This area includes the North Island-Sunshine Coast Region and the Central South Island Region, as indicated on the map on the following page.
THE PROJECT SHOULD DEMONSTRATE:
- Ì Participation of community, business, industry and other relevant stakeholders
- Ì Clear short-term, medium-term and long-term direction
- Ì Detailed action-based implementation plan
- Ì Capacity to implement
EXAMPLES OF ELIGIBLE USES:
Ì New community economic development strategy which may include:
• Asset mapping
• Demographic research and analysis
• Economic or sectoral research
• Data analysis
• Formal consultation processes
NOT ELIGIBLE: Update to existing strategy, business development strategy, comprehensive community plan.
THE PROJECT SHOULD:
- Ì Address key priorities identified in a recently completed economic development strategy
- Ì Result in tangible short-term progress in moving strategic priorities forward
- Ì Be something new to the organization which provides lasting benefits
EXAMPLES OF ELIGIBLE USES:
- Ì Small scale capital project identified in the strategy
- Ì Business case required to access funding for a larger scale initiative prioritized in the strategy
- Ì Technical study required to access funding for implementation of a key strategic initiative
NOT ELIGIBLE: Feasibility study, initiative not identified in the strategy, capital project with no short-term benefits.
THE STRATEGY SHOULD:
Ì Demonstrate ongoing engagement/participation of key sectoral and regional stakeholders
Ì Have broad regional or sub regional objectives
Ì Align with regional or provincial priorities
Ì Include detailed action-based implementation plan
Ì Be public and shared with relevant organizations
EXAMPLES OF ELIGIBLE USES:
Ì Strategy to address sectoral barriers or opportunities. The strategy may include:
• Research and economic analysis
• Formal consultation process with stakeholders, industry and government
• Review of best practices and innovation opportunities
NOT ELIGIBLE: Academic research or discussion paper, feasibility study.
THE STRATEGY SHOULD:
Ì Align with regional or provincial strategies
Ì Provide clear short-term, medium-term and long-term direction
Ì Engage key regional stakeholders (tech, education, business etc.)
Ì Include regional recommendations and cost-effective partnership approaches where feasible
Ì Include a specific action-based implementation plan
EXAMPLES OF ELIGIBLE USES:
Ì Community or regional tech attraction strategy
Ì Community or regional connectivity strategy
NOT ELIGIBLE: Connectivity strategy where capacity meets or exceeds generally accepted standards, technical connectivity plan with no community-based engagement process.
THE TOOLS SHOULD:
Ì Be new and incremental to existing investment attraction tools and materials
Ì Foster improved investor attraction and response capacity
Ì Provide lasting benefit to the community and/or region
EXAMPLES OF ELIGIBLE USES:
Ì Community profile
Ì Community investment attraction website
Ì Investment response team development
NOT ELIGIBLE: General community website, community branding, onetime promotion or event, stand-alone photography, video or design, business training or ambassador program
THE INITIATIVE SHOULD:
Ì Create new capacity and broad regional benefits
Ì Align with regional or provincial priorities
Ì Include engagement of relevant community and industry stakeholders
Ì Maximize financial efficiency
Ì Demonstrate regional buy-in (financial participation in project or future sustainability)
Ì Include implementation and sustainability plan
EXAMPLES OF ELIGIBLE USES:
Ì Regional marketing strategy and required support tools
Ì Regional collaboration initiative designed to advance key regional priorities
NOT ELIGIBLE: Pilot initiative with no sustainability plan, individual community marketing, branding or buy-local program, business or workforce development, conferences, training, trade missions.
Grant Application website
Contact
The application form and all supporting documents should be submitted electronically to: info@islandcoastaltrust.ca. Do not mail or submit hard copies.