Apply for Funding

Investment Readiness

The Investment Readiness Program photo shows an Awak'was structure in Alert Bay.
The Village of Alert Bay and ‘Namgis First Nation partnered on an interpretive signage initiative along the waterfront, providing visitor information about the unique Awak’was structures and other attractions on Cormorant Island. Photo by Brodie Guy

We invest 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. Through the Investment Readiness Program, we invest up to $30,000 across four funding streams: project development, sector development, economic development strategies, and regional collaboration.

With the Investment Readiness Program, our primary goals are to:

  • Empower rural and First Nation communities to develop and derisk 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.

Types of Organizations We Fund

We welcome proposals that are led by any of the following organizations:

First Nations
Governments, bands, corporations controlled by First Nations, not-for-profit organizations

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

We encourage proposals that foster economic reconciliation with First Nations and Indigenous people by creating meaningful partnerships and mutually beneficial opportunities based on a holistic, values-driven approach to attaining community economic prosperity.

While we don’t fund individuals or businesses, we encourage public projects that are partnerships with the private sector.

Impact Focus

We empower First Nations, local governments, non-profits, industry associations, and private businesses to collaborate on regional economic development initiatives that are an expressed shared priority. We invest in sustainable development projects that focus on one or more of the following eight impact priorities. For information on each focus, please see the overviews on the following pages.

Funding Program Application Guide

In line with our 2023-2026 Strategic Plan and our commitment to fostering inclusive economic development growth that enhances community wellbeing across our region, we have updated our Investment Readiness Program.

In 2024, we streamlined the Investment Readiness Program to focus on four funding streams and created a straightforward application process. Our work centres on supporting communities and organizations unlock new investments that help foster sustainable economies.

In our guide, we share valuable insights into our program with easy-to-follow step-by-step instructions, including:

  • How we focus on four funding streams, with examples of eligible projects.
  • How to easily convey the Trust’s impact priority your project is focused on. 
  • How we will work in partnership with you on the development of your project plan, budget, and key outcomes.
  • How we engage regional leadership in our decision-making process to make project investment decisions.
  • How we support you with media outreach, community engagement, and project reporting.

Investment Readiness Funding Streams

Our Investment Readiness Program offers four funding streams — each has been designed to enable the Trust to partner and invest in projects that will unlock new investment in local and regional economies.

Awak'was in 'Yalis (Alert Bay) were a partnership with the village of Alert Bay and the 'Namgis First Nation.

Project Development

We empower rural and First Nations communities to develop and de-risk large-scale projects by producing investment-ready capital expenditure and business plans.

The strategic intent of this stream is for the Trust to partner in the development of project plans for future investment by the Trust. This will also position rural and First Nations communities to attract significant new private and public investment.

Download the Project Development Application.

Kyoquot Sound has welcomed new business growth in tourism and aquaculture in recent years.

Regional Collaboration

We empower First Nations, local governments, non-profits, industry associations, and private businesses to collaborate on regional economic development initiatives that are an expressed shared priority.

The strategic intent of this stream is for the Trust to partner in the development of innovative collaboration between communities, the non-profit sector, and private industry to (a) unlock potential for major new investments into the coastal economy and (b) undertake innovative new approaches to sustainable economic development.

Download the Regional Collaboration Application.

The Seaweed Agriculture industry is rapidly growing on Vancouver Island and across coastal BC.

Sector Development

We partner with industry associations, communities, non-profits, and academic institutions to develop new and emerging sectors leveraging innovation and technology.

The strategic intent of this stream is for the Trust to partner in the development of new economic sectors to increase productivity, competitiveness, local tax bases, employment, and quality of life for residents.

Download the Sector Development Application.

Bamfield, a community on the Pacific Rim of Vancouver Island

Economic Strategy

We empower communities to establish comprehensive long-term economic development strategies to set direction for sustainable, diversified economic growth.

The strategic intent of this stream is for the Trust to partner in the development of economic development strategies to unlock new potential for island and coastal communities to attract significant new private and public investment. Funding may be used to support outreach, research, planning, asset mapping or other activities required to develop formal, actionable economic development strategies.

Download the Economic Strategy Application.

Continuous Funding Intake

With our focus on working closely with you on the development of your project plan, we no longer work towards application deadlines. Our approach is more collaborative.

We will collaborate with you to finalize your funding application for recommendation to our board of directors. We will help identify questions, risks, or gaps in the information provided that we anticipate our board of directors will seek to clarify when making their funding decisions. 

Our board of directors meet regularly to review project proposals and to make funding decisions on our Investment Readiness project applications. If we receive more proposals than our annual program funding budget, we will assess each project, and the board of directors will rank-order projects based on each project’s readiness to process, alignment with the program’s objectives and eligibility, risk assessment, and anticipated outcomes. Projects that are not ready to be implemented right away are typically invited for decision at the first board meeting of the next fiscal year (starting April 1).

Working in Collaboration with You

We welcome every opportunity to work collaboratively with you as you develop your project plan. We are available by phone, video conference, and we are also happy to meet in-person (we will travel to your community). Please do not hesitate to contact us for further information.

We invite you to contact us while you develop your project plan before you start a funding application. By sharing your organization’s project plan with us, we can work in collaboration with you to then develop your funding application.

Denice Regnier​Denice Regnier
Manager, Funding Programs and Corporate Affairs

Please call Denice at 250-871-7797 or email denice@islandcoastaltrust.ca.