Aquaculture Development Overview
Funding is available to help Indigenous communities and groups develop sustainable aquaculture operations. This includes costs to expand or upgrade existing aquaculture facilities, for materials required in new and expanded operations, and those associated with entering into an aquaculture business. The intent of this funding is to support capacity-building, revenue and profit generation, employment generation, and self-sustainability of aquaculture operations.
Each project submitted for Northern Integrated Commercial Fisheries Initiative (NICFI) aquaculture development funding must be aligned with the community’s or Community Fishing Enterprise (CFE) business development plan. It must also support capacity-building and sustainability in aquaculture and related activities.
The Aquaculture Development component of the NICFI program is proposal driven. It has flexibilities to enable multi-year contribution agreements for projects to be implemented in stages with secured funding. Multi-year agreements may extend from one to five years.
General Application Requirements
Business Cases - All prospective applicants must work with the Business Development Team (BDT) to develop a business case, which includes all supporting information, prior to submitting their application to the NICFI Program Authority. Note that there is no cost to the applicant for the services provided by the BDT.
Financial Details - All applications must include detailed budget information, outlining the complete costs for each project, and the sources of funding expected. Note that each application must include a minimum 10% cash contribution from the applicant to the total project costs.
Letter of Support - All applications must include a letter of support from the authorized representative of the applicant, e.g. Chief, Executive Director, President, Mayor, or Band Council Resolution (BCR), etc., authorizing the submission of an application under NICFI.
Application Deadline – Applications should be submitted to the NICFI Program Authority by November 30. Once the budget has been fully allocated, projects will be considered for the following Fiscal Year. This is a fiscal year managed program which open’s April 01 requiring projects to be completed by March 31 each fiscal year.
Eligibility – NICFI Aquaculture Development funding can be accessed by Indigenous groups not eligible for AICFI or PICFI, or organizations that provide related support services. There is no geographic restriction for aquaculture projects.
All information provided by an applicant in the application and supporting documentation, and all collaboration with the BDT, will be held in confidence by the NICFI Program Authority even after projects are approved. The evaluation of applications will also be carried out under strict confidentiality by those involved.
WAUBETEK’S AQUACULTURE SERVICES - Waubetek delivers this initiative in central Canada to Alberta, Saskatchewan, Manitoba and Ontario.
- ASSIST IN IDENTIFYING NEW OR EXPANDING OPPORTUNITIES.
- IDENTIFY NEW INNOVATIONS, BEST PRACTICES AND APPROACHES.
- ADVISORY ON THE IMPLEMENTATION OF EARLY-STAGE AQUACULTURE BUSINESS DEVELOPMENT PLANS.
- IDENTIFY JOINT VENTURE OPPORTUNITIES AND PARTNERSHIPS.
- ADVISORY SERVICES SPECIFIC TO AQUACULTURE RELATED FISHERIES AND SUPPORT.
- ASSIST WITH FLAGSHIP BUSINESS DEVELOPMENT PROJECTS.
- ASSIST WITH BUSINESS IMPROVEMENT PROJECTS.
- HOST AND PARTICIPATE IN AQUACULTURE WORKSHOPS.
- Guidance in developing viable business plans, feasibility studies and environmental assessments
- Assisting to source capital for aquaculture businesses and operations
- After-care services for businesses and operations in early stages of operations
For more information Contact:
Nicholas Huber, Senior Aquaculture Development Officer
Waubetek Business Development Corporation
Resources information available includes: