Inuit Opportunities Fund
The primary objective of the Inuit Opportunities Fund is to support economic activities related to tourism by Inuit-owned or –controlled business ventures in Baker Lake. Priority will be given to Inuit Firms that are:
- Collaborating with other Inuit-owned firms instead of competing with them
- (non-Inuit firms are excluded);
- Purchasing goods or services from other Inuit-owned Firms;
- Attracting foreign investment;
- Protecting the environment instead of potentially damaging it;
- Collectively-owned instead of individual-owned;
- In future industries instead of current industries;
- Labor-intensive instead of capital-intensive;
- 100% Inuit-owned instead of lower Inuit-ownership (Any 51% Inuit-owned Firm
- must have an Inuit ownership increase plan in place);
- Technology-intensive instead of technology-free;
- Leveraging other programs instead of the Inuit Opportunities Fund alone;
- Right-sized instead of ambitiously-sized.
The maximum amount of funding for each approved application and the requirement for contributed equity will be as follows:
| Project Type | Maximum Contribution Level | Required Cash Equity | Requirement to Leverage Other Programs |
|---|---|---|---|
| Feasibility study; business planning; market study | $15,000 | 0% | yes |
| Business valuation; asset condition assessments and appraisals | $10,000 | 0% | yes |
| Legal and other professional fees; negotiation; | $10,000 | 10% | yes |
| Accounting support and training; management and technical training; | $10,000 | 10% | yes |
| Purchase of assets; operating costs of a start-up | $25,000 | 10% | yes |
How To Apply
Downloadable Form: Inuit Opportunities Fund Application Form
Email your completed application to info@kivalliqinuit.ca
For more information about this program, please contact:
Inuit Programs and Services Department
Kivalliq Inuit Association
Tel: 867-645-5725;
Toll-free: 1-800-220-6581
Fax: 867-645-2348