Application for Region of Waterloo Economic Development Grant (2023)

Entrepreneurial initiative

Evaluation Criteria:

The Economic Development Grant – Entrepreneurial Initiatives grant criteria is rooted in the principles and priorities set out by both the Region of Waterloo's Corporate Strategic Plan and the Waterloo Region Economic Development Strategy (WREDS): the five focus areas in the strategic plan, combined with the WREDS focus on supporting local organizations and networks that accomplish specific economic development objectives. 

Grants for organizations and networks will be prioritized based on their commitment to, and demonstrated accomplishment of, one or more of the following objectives:

1. Promotes a diverse and sustainable agricultural system and local food industry.
2. Offers programs and services that foster innovation and entrepreneurship, and outreach to high schools.
3. Assists with regulatory compliance.
4. Strengthens producer collaboration networks.
5. Prioritizes talent development and retention.
6. Welcomes new Canadians and help them start businesses.
7. Promoting talent attraction and retention.

If your organization/network has a significant accumulated deficit (over 25 per cent of annual operating expenses) it is not eligible for the Economic Development Grant – Entrepreneurial Initiatives program.

Organizations/networks receiving the Region of Waterloo’s Economic Development Grant – Entrepreneurial Initiatives must acknowledge receipt of the grant in marketing materials.

Please Note: This grant is intended to compliment additional funding received by the applicant from other sources, in alignment with the above stated objectives. Funding for this program is provided on an annual basis and is not intended to be a primary funding source. 

This application may require the submission of additional documentation. A checklist of required documents is included below.

If selected for a grant, the successful applicant will be required to report on the achievement of their stated targets and outcomes and how those acheivements have aligned with the grant program objectives.

The Grant will be based on the Grant Application rationale and alignment with the defined strategies and criteria.  Funding may be limited based on the total available funds for the fiscal year. The application due date is March 16, 2023. 

Legislative Authority:

Section 107(1) of the Municipal Act

Despite any provision of this or any other Act relating to the giving of grants or aid by a municipality, subject to section 106, a municipality may make grants, on such terms as to security and otherwise as the council considers appropriate, to any person, group or body of any kind, including a fund, within or outside the boundaries of the municipality for any purpose that council considers to be in the interest of the municipality.

Organization details:

Primary contact information:

Grant details

* Please note, organizations requesting more than $10,000 will be required to provide recent financial statements and a list of financial contributors, along with their annual contributions, who support the organization.

Please describe and quantify how your organization/network fosters economic development and economic benefits to Waterloo Region in one or more of the following categories? (Additional supporting materials are welcome.)

1. Promotes a diverse and sustainable agricultural system and local food industry.
2. Offers programs and services that foster innovation and entrepreneurship, and outreach to high schools.
3. Assists with regulatory compliance.
4. Strengthens producer collaboration networks.
5. Prioritizes talent development and retention.
6. Welcomes new Canadians and helps them start businesses.

Please be prepared to provide the following documents as part of the application screening process if asked to provide them.

1. Most recent annual report/audited financial statement (revenue, expense and balance sheet).
2. Budget for the year the grant is requested.                                                            
3. A complete list of board members, their positions and addresses.
4. A one to two page summary of the major programs and services your organization provides, the program recipients, program timeframe, plus any other information which you feel would support your application.
5. Previously used marketing materials acknowledging receipt of the Region’ Economic Development Grant (for previous recipients only).

6. If requesting more than $10,000, please provide a list of financial contributors, along with their annual contributions, who support your organization.

Certification

The applicant certifies that the information provided in this application for an Economic Development Grant is accurate and complete and is endorsed/approved by the board of directors.  In submitting this application, the Applicant agrees to the following conditions:

• the obligation to allow the Region to conduct an audit of the Applicant in regard to how the Region of Waterloo – Economic Development Grant was expended should the Region choose to do so; and
• the condition that the Applicant repay the Region of Waterloo – Economic Development Grant if it is not used for the purposes stated in the application and approved by Regional Council.

If submitting hard copies, please forward the completed application and all supporting documentation to:

Manager, Economic Development
Regional Municipality of Waterloo
Regional Administration Headquarters
150 Frederick Street, 8^th Floor
Kitchener, Ontario   N2G 4J3

 E-mail: ecdev@regionofwaterloo.ca

* Please note that approved Grants are normally paid at mid year*