Investment Readiness

Description

Island Coastal Economic Trust's (ICET) Investment Readiness Program invests up to $30,000 in communities of all sizes to undertake vital local and regional initiatives that will attract new investment, build long-term economic development capacity, and provide value-added services or systems for local businesses. Investments are made across four funding streams: project development, sector development, economic development strategies, and regional collaboration.

The goals are to:

• Empower rural and First Nation communities to develop and de-risk large-scale projects by producing investment-ready capital expenditure and business plans
• Develop new and emerging sectors within the coastal economy by focusing on innovation, technology, and natural resource stewardship
• Spur regional initiatives focused on sustainable development opportunities among multiple First Nations governments, local governments, non-profits and the private sector
• Form long-term economic development strategies with communities that have not created an economic development strategy in the past ten years​

Eligibility requirements

Eligible organizations include:

• First Nations: Governments, bands, corporations controlled by First Nations
• Local and Regional Governments: Municipalities, regional districts, and incorporated areas
• Registered not-for-profit organizations and charities: Local community-based organizations, economic development organizations, industry associations, regional and sectoral organizations, educational organizations and institutions

Visit ICET’s website to collaborate on your application.

Status

Open and Continuous

Applications are reviewed in the order they are received. ICET will work closely with you on the development of your project plan and application to ensure it meets your community’s needs and maximizes impact. Staff will review completed applications and make a recommendations for funds to be approved.

Administration

Island Coastal Economic Trust serves more than 500,000 British Columbian and Indigenous residents, more than 100 First Nations governments, local governments, and rural unincorporated communities across Vancouver Island, the southern Great Bear Rainforest, the Sunshine Coast, and islands and inlets from the Salish Sea to Cape Caution. Their mission is to invest in inclusive economic development, diversification, and innovation in partnership with communities. ICET administers this program through funding from the Ministry of Jobs, Economic Development and Innovation.