Diversification and New Market Program – April 2021
Opens Apr 26 2021 08:00 AM (CST)
Deadline May 31 2021 04:00 PM (CST)
Description

Diversification & New Market Program


Spring 2021

APPLICATION FORM


 

Goal:

This funding program has been created to assist Saskatchewan tourism businesses by supporting and facilitating the development of new experiences and/or new markets for an established tourism product. It aims to increase the scope and variety of multi-day comprehensive packages available as a single transaction purchase in the province.

Objectives:

The program has three streams with the following objectives:                                                                                   

  1. New Market(s) – attract new markets for currently operating tourism business infrastructure
    • (Maximum $20,000 available)
  2. Seasonal Usage Expansion – assist businesses to expand seasonal usage of both current and new tourism infrastructure 
    • (Maximum $20,000 available)
  3. New Experiential Product Development – assist in the creation of new experiential product(s) for established tourism businesses
    • (Maximum. $30,000 available) 

Assistance: 

This program is application-based. The maximum funding per applicant ranges from $20,000-$30,000, depending on the stream to which the applicant applies. A minimum equity investment of 30 per cent of the total project cost is required by the applicant, and applies to all three streams. 

Eligible Applicants:

  • Existing Saskatchewan tourism businesses (incorporated or sole proprietorship) that meet all local, provincial and federal requirements for operating a business in Saskatchewan. 
    • Must provide proof of adequate insurance
    • Maintains an active, up-to-date digital presence and is active in online marketing
    • Demonstrates an ability to manage online reputation and have an effective online promotions and advertising program
  • Existing Saskatchewan Non-Profit Corporations that meet all the local, provincial and federal requirements for operating a non-profit in Saskatchewan.
    • Must provide proof of adequate insurance
    • Maintains an active, up-to-date digital presence and is active in online marketing
    • Demonstrates an ability to manage online reputation and have an effective online promotions and advertising program
  • Applicant follows a formal business plan with the following components:
    • Financial plan
    • Human resource plan
    • Marketing plan
    • Risk management plan
    • Operational plan
  • Must meet Market-Ready criteria.
  • Must invest a minimum of 30 per cent of equity required to undertake the project.
  • Applicant must be in good standing with Tourism Saskatchewan

Application and Evaluation Process:

Applicants must use the online application form. Submissions received in any other format will not be accepted. 

Confirmation of your application will be sent by email. If you do not receive notification within two weeks, contact Denise Stroeder at 306-787-2825, denise.stroeder@tourismsask.com.

Applications will be reviewed by the Program Selection Committee. All applicants will receive a response within two months of the program closing date.


Application Checklist:

  • Program application form
  • Third Party Accountant-prepared financial statements
  • Project budget and timeline
  • Proof of business insurance (include liability limit)
  • Business plan including:
    • Financial plan
    • Human resource plan
    • Marketing plan
    • Risk management plan
    • Operational plan


All information submitted by the applicant during the application process will be confidential in nature and not shared outside of the Tourism Saskatchewan program requirements. 

Apply

Diversification and New Market Program – April 2021



Diversification & New Market Program


Spring 2021

APPLICATION FORM


 

Goal:

This funding program has been created to assist Saskatchewan tourism businesses by supporting and facilitating the development of new experiences and/or new markets for an established tourism product. It aims to increase the scope and variety of multi-day comprehensive packages available as a single transaction purchase in the province.

Objectives:

The program has three streams with the following objectives:                                                                                   

  1. New Market(s) – attract new markets for currently operating tourism business infrastructure
    • (Maximum $20,000 available)
  2. Seasonal Usage Expansion – assist businesses to expand seasonal usage of both current and new tourism infrastructure 
    • (Maximum $20,000 available)
  3. New Experiential Product Development – assist in the creation of new experiential product(s) for established tourism businesses
    • (Maximum. $30,000 available) 

Assistance: 

This program is application-based. The maximum funding per applicant ranges from $20,000-$30,000, depending on the stream to which the applicant applies. A minimum equity investment of 30 per cent of the total project cost is required by the applicant, and applies to all three streams. 

Eligible Applicants:

  • Existing Saskatchewan tourism businesses (incorporated or sole proprietorship) that meet all local, provincial and federal requirements for operating a business in Saskatchewan. 
    • Must provide proof of adequate insurance
    • Maintains an active, up-to-date digital presence and is active in online marketing
    • Demonstrates an ability to manage online reputation and have an effective online promotions and advertising program
  • Existing Saskatchewan Non-Profit Corporations that meet all the local, provincial and federal requirements for operating a non-profit in Saskatchewan.
    • Must provide proof of adequate insurance
    • Maintains an active, up-to-date digital presence and is active in online marketing
    • Demonstrates an ability to manage online reputation and have an effective online promotions and advertising program
  • Applicant follows a formal business plan with the following components:
    • Financial plan
    • Human resource plan
    • Marketing plan
    • Risk management plan
    • Operational plan
  • Must meet Market-Ready criteria.
  • Must invest a minimum of 30 per cent of equity required to undertake the project.
  • Applicant must be in good standing with Tourism Saskatchewan

Application and Evaluation Process:

Applicants must use the online application form. Submissions received in any other format will not be accepted. 

Confirmation of your application will be sent by email. If you do not receive notification within two weeks, contact Denise Stroeder at 306-787-2825, denise.stroeder@tourismsask.com.

Applications will be reviewed by the Program Selection Committee. All applicants will receive a response within two months of the program closing date.


Application Checklist:

  • Program application form
  • Third Party Accountant-prepared financial statements
  • Project budget and timeline
  • Proof of business insurance (include liability limit)
  • Business plan including:
    • Financial plan
    • Human resource plan
    • Marketing plan
    • Risk management plan
    • Operational plan


All information submitted by the applicant during the application process will be confidential in nature and not shared outside of the Tourism Saskatchewan program requirements. 

Apply
Opens
Apr 26 2021 08:00 AM (CST)
Deadline
May 31 2021 04:00 PM (CST)