Nikanewin Bursaries 2023: Supporting First Nations Entrepreneurship
The First Nations of Quebec and Labrador Economic Development Commission (FNQLEDC) is proud to continue stimulating entrepreneurship among First Nations members. To this end, the FNQLEDC is launching a third edition of the Nikanewin bursaries, which will be awarded to people with a business project to encourage them and help them move beyond the ideas to actions.
Summary of this article :
What is the objective of the Nikanewin bursaries?
The Nikanewin bursaries aim to support people with a business project and to encourage them to go from the idea to the action to make their projects a reality. They also aim to stimulate private entrepreneurship among First Nations members. .
Who is eligible?
All First Nations members aged 18 and over living in Quebec (both on and off reserve) are eligible.
What projects are eligible?
All business projects in the early stages are eligible. In addition, projects of all kinds (for-profit or not-for-profit) and from all activity sectors (e.g. retail, accommodation, catering, etc.) can be submitted, regardless of whether the project is small or large in scale. However, please note that all projects linked directly or indirectly to the gambling, sex or drug industries will be rejected.
How many bursaries will be offered?
Thanks to partnerships with Hydro-Québec and Bell, a $5,000 bursary and 11 $2,500 bursaries will be awarded to the winning projects, for a total of $32,500 in bursaries!
All bursary recipients will also be able to benefit from the support of Entrepreneurship Advisors from the FNQLEDC during the various development stages of their projects (e.g. business plan, financial forecasts, fundraising, etc.).
In addition, through the FNQLEDC, bursary recipients will have access to support measures to complete projects and create businesses.
It is important to mention that, since the bursary initiative is being launched by the FNQLEDC’s Women Entrepreneurship services, at least 51% of the total bursary funding will be awarded to applications submitted by women.
Until when are applications being accepted?
The application period will begin on January 16, 2023 and end on February 28, 2023 at 11:59 pm.
How to apply?
- Read the explanatory document with the eligibility requirements, the rules for awarding the bursaries and the process for selecting recipients.
- Complete the application form, taking care to complete all the fields and clearly explain, in as much detail as possible, your business project (its mission, objectives, services offered, etc.).
- Write a cover letter in which you must explain why you want a bursary, how the money will be invested, etc.
- Once the documents have been completed, you must send them to the following email address: email@example.com.
How will the recipients be selected?
The selection process will take place in two stages:
- The Entrepreneurship Advisors of the FNQLEDC will examine the applications, conduct analyses and make recommendations.
- These recommendations will then be transmitted to an independent committee made up of three members of the FNQLEDC’s Board of Directors, who will make the final decision.
Applications will be assessed based on the following criteria:
- The clearness of the mission and objectives.
- The positive impacts in terms of economic autonomy.
- The realism and viability of the project, considering the following factors:
- The applicant’s abilities and skills.
- The prevailing socio-economic environment in the place where the applicant wishes to start the project.
- The available funding options.
Where can I get assistance?
The Economic Development Officers who work in each First Nations community are invaluable resources who can help you in your efforts. Do not hesitate to ask for their help, as they are passionate about economic development and entrepreneurship!
The FNQLEDC’s Advisors are also available to support you.
For any questions regarding these grants, please contact Mr. Emmanuel Bertrand-Gauvin by email at firstname.lastname@example.org.