Download the RII Application and Guide (Microsoft Excel spreadsheet) and submit it with all mandatory support information (as attachments) to eodp@pelacfdc.ca 

Mandatory Support Information:
– Proof of legal name, business registration, or if incorporated, a copy of Articles of Incorporation
– Financial Statements (at minimum, a YTD Profit & Loss Statement and Consolidated Balance Sheet)
– Project Budget Form by Fiscal Year
– List of Board of Directors (Not-for-Profit)

Additional Information You May Include:

• Business Plan or Executive Summary

• Business Model Canvas

• Third Party Quotes for Eligible Project Costs

• Letters of Support

• Other Relevant Documentation

GENERAL INTENT

Overall it is the intent of Community Futures to carefully invest in local projects that support high-potential enterprises and the transition of traditional rural sectors and business to the new rural economy.

Projects will demonstrate sustainability, drive prosperity and job creation/sustainment through innovation, research and development, commercialization, and business practices that work to position the region for global competitiveness, export markets, and economic diversification.

Recipients will work with partners and service providers to identify and measure the social impacts of their project, and will be encouraged to develop metrics tailored to their organization that they can report on periodically. 

WHO IS ELIGIBLE

Eligible recipients with operations located in Prince Edward County and Lennox & Addington County may include:

• Private, for-profit, traditional SMEs with the potential to grow through innovation;

• Not-for-profits and social purpose organizations supporting business and community transition into the new rural economy.

WHAT IS ELIGIBLE

Projects in the following priority sectors will be considered:

• Agrifood

• Food Processing

• Agtech

• Digital Industries

• Clean Tech

• Priority will be given to projects that advance the economic participation of: youth, women, Indigenous peoples, persons with disabilities, newcomers, and visible minorities

ELIGIBLE ACTIVITY

Eligible activities should drive business growth and transition enterprises to the new rural economy by supporting the adoption of advanced business practices and innovation processes such as:

• Rapid prototyping and new products

• Scaling and automating production processes

• Export facing market products and services

• Internet of things, sensors

• Data driven solutions

• Emerging sustainable technology

• Machine learning

• Blockchain, digitization, and interconnected knowledge management

Projects proposed by not-for-profits and social purpose organizations should be business-focussed, align with federal government economic development priorities, support priority industry sectors, and advance inclusiveness.

Examples of eligible project activities could include:

• Business hubs supporting economic diversification

• Workshops that help farm-to-table food enterprises reach new markets

Selected projects will be eligible for a non-repayable performance-based contribution and require a minimum 50 percent cash contribution by the recipient on eligible expenses net of HST.  The minimum project size is $50,000 resulting in a minimum contribution of $25,000 by the recipient.  

The total support to for-profit recipients will not exceed $100,000.

ELIGIBLE COSTS

Eligible costs for project activities may include:

• Labour

• Expertise

• Non-Capital

• Capital

All costs must be reasonable and directly related to the eligible project activities.

INELIGIBLE AND/OR UNSUPPORTED COSTS INCLUDE:

• Any costs deemed not reasonable and/or not directly related to the eligible project activities.

• Activities in support of regular maintenance and/or ongoing operational costs.

• Cost incurred prior to the eligibility date as defined in the Contribution Agreement.

• Costs incurred after December 30, 2020.

• Any cost that is ineligible under the Contribution Agreement.

• Acquisition of land or buildings.

REPORTING REQUIREMENTS

Eligible recipients must demonstrate that they are prepared to and have mechanisms in place to submit data, schedules, plans and reports in sufficient detail for the Community Futures to:

• Assess project progress

• Post project completion monitoring

• Evaluate the outcomes and effectiveness of the contributions

Eligible recipients will provide the Community Futures organization with Progress/Activity Reports and financial claims on a monthly basis, quarterly or as required and outlined in the Contribution Agreement.

HOW TO APPLY

1. Start – Download the RII Application and Guide (spreadsheet).

2. Submit – Send your completed application with all mandatory support information (as attachments) to eodp@pelacfdc.ca

3. Due Diligence – Community Futures staff carry out review, due diligence, and project development.

4. Investment Committee Review – Review and select recipients.

Applicants notified typically within 6 weeks of date of completed application, or the close of an intake round, whichever is later.

If a project is selected for support, Community Futures will prepare a Contribution Agreement with terms and conditions.

Financial contributions are performance-based and subject to a 10% holdback until the applicant has completed the project, and met all project requirements as outlined in the Contribution agreement. No project is expected to extend past 

December 1, 2020.

Incomplete applications will not be considered.

Applicants are encouraged to contact the Program Manager to discuss proposed projects prior to submitting an online application. However, intake is now closed.

eodp@pelacfdc.ca