Deadline: 30-Sep-21
The Government of Alberta has announced the applications for its Aboriginal Business Investment Fund to help Indigenous community-owned businesses capitalize on business development opportunities to improve socio-economic outcomes.
The Aboriginal Business Investment Fund (ABIF) can partially or completely fund capital costs for Indigenous community-owned economic development projects. Projects like these improve social and economic outcomes for Indigenous Peoples and their communities.
Applicants must demonstrate long-term effects that:
- increase the number of Indigenous community-owned businesses
- increase employment opportunities for Indigenous Peoples
- create or increase local revenue streams for Indigenous communities
- strengthen the economies of Indigenous communities
A strong application has these elements:
- demonstrated community support for the project that includes a formal Resolution and other supporting documentation
- the potential for generating net economic benefit, like jobs and community revenue
- demonstrated management capacity and business expertise on the project
- demonstrated balance of own-source equity, commercial financing and grant funding
- long-term viability of the proposed business opportunity
- potential for the project to generate spin-off business opportunities
Funding Information
ABIF provides between $150,000 and $500,000 to support an Indigenous community-owned economic development project. That could be up to 100% of eligible project costs. An ABIF grant can be stacked with other government and industry funding sources.
Eligibility Criteria
- Eligible ABIF applicants are Indigenous communities in Alberta or corporate entities owned by Indigenous communities located in Alberta:
- communities must own and control 51% or more of the proposed business or joint venture
- corporate entities must be in good standing
- applicants must be in compliance with the terms and conditions of any previous Indigenous Relations funding
- An Indigenous community may submit only one ABIF application in any given funding year.
For more information, visit https://www.alberta.ca/aboriginal-business-investment-fund.aspx