Prosper NWT, formerly known as the Northwest Territories Business Development and Investment Corporation (BDIC), is excited to announce additional funding of $534,000 that will be used to assist businesses with their digital projects to increase their online presence, boost e-commerce, or digitalize operations. This funding is being provided by the Canadian Northern Economic Development Agency over a three-year period and will supplement funds available to businesses through digital support programs delivered by Prosper NWT.
With this additional investment, eligible businesses will now be able to receive up to $12,700 in Yellowknife/Ndilǫ, Fort Smith, Hay River and Inuvik, and up to $15,100 in all other communities, for digital projects. This funding is available through the federally funded Canada Digital Adoption Program (CDAP) and Prosper NWT’s Accelerate Digital Adoption Projects for Tomorrow (ADAPT) Fund.
Businesses can access this funding and digital advisory expertise and support through a single window from Prosper NWT. Businesses that apply to the Canada Digital Adoption Program (CDAP) will automatically apply for additional funding if needed from Prosper NWT’s Accelerate Digital Adoption Projects for Tomorrow (ADAPT) Fund and the Canadian Northern Economic Development Agency.
These digital support programs have already helped over 50 businesses in the territory expand their digital footprint.
Quotes
“Today, more people are shopping online for products and services, and want convenience and personalized experiences. It is imperative for businesses to have a robust online presence and use digital tools to improve efficiencies. This funding will further assist NWT businesses in adopting new technologies so that they can flourish in this digital economy.” – Joyce Taylor, Chief Executive Officer, Prosper NWT (formerly BDIC)
“Businesses are vital to a strong and diversified economy. This funding will further help businesses get the tools and technologies they need to remain competitive and tap into new markets beyond our territory. Initiatives like this really exemplify the value of partnerships and working together to accelerate business growth and innovation in the Northwest Territories.” – The Honourable Caitlin Cleveland, Minister Responsible for Prosper NWT
“Across the NWT, businesses are working hard to improve and optimize their digital presence and expand their markets. This investment in Prosper NWT is a perfect example of our government’s support of entrepreneurs in northern and remote communities to take their businesses to the next level.” – The Honourable Dan Vandal, Minister of Northern Affairs, PrairiesCan and CanNor
“Northerners know how to innovate, and by developing new digital capacities, NWT’s businesses have an opportunity to expand and connect to broader markets, increasing their reach and bringing new economic advantages to their doorstep. Supporting northern businesses as they expand their digital footprint is an important part of increasing business competitiveness and building prosperity for both local and regional economies.” – Michael McLeod, Member of Parliament for the Northwest Territories
Quick Facts:
- Prosper NWT, formerly the Northwest Territories Business Development and Investment Corporation (BDIC), was created in 2005 to support the economic objectives of the Government of the Northwest Territories (GNWT) by encouraging the creation and development of businesses, offering financial assistance including investment, and providing information and support to businesses.
- The organization is a public agency of the Government of the Northwest Territories (GNWT) and is governed by a Board of Directors appointed by and responsible to the Minister Responsible for Prosper NWT (formerly the BDIC).
- Since 2005, the organization has distributed over $124 million to businesses and has created or maintained over 1,900 jobs in communities across the NWT.
- Prosper NWT is committed to helping businesses thrive and grow in the territory, and it offers a variety of programs and services including digital support.
- Digital support programs that are available through Prosper NWT include the Canada Digital Adoption Program (CDAP) and the Accelerate Digital Adoption Projects for Tomorrow (ADAPT) Fund with top-up funding now provided by the Canadian Northern Economic Development Agency.
- Funding from these digital support programs can be used by businesses for a variety of projects which include: creating or upgrading a website; adopting an e-commerce platform or solution; setting up online payments; and setting up a digital inventory tracking or sales system.
Media Requests:
Leslie Dragon
Manager, Public Affairs, Marketing and Business Services
Prosper NWT (formerly the BDIC)
867-767-9075 ext. 86002
Web: www.bdic.ca (to become www.prospernwt.ca)