For a project to qualify as an eligible activity it must meet the following criteria:

• Leverage - the project should involve other sources of funding, (private and/or public) however some projects may be financed 100% under the Fund in exceptional circumstances;
   
• Incremental to existing programs - the project has sought assistance from other sources where applicable so that the Fund is used as a funding source of last resort; that is, existing federal and provincial programs must be used first where possible;
   
• Viability - the project must be sustainable. For repayable assistance, the project must generate sufficient revenue to repay the assistance.

In addition each project must demonstrate the possibility of producing at least one of the following measurable results:

• Long-term, sustainable growth - projects should generate new, incremental export sales or tourism receipts on a sustainable and long-term basis or should attract new, export-oriented businesses to Cape Breton Island;
   
• Job creation - projects should create long term, sustainable jobs or demonstrate a clear and definitive link to future commercial activity which will result in sustainable job creation;
   
• Diversification of the industrial base of Cape Breton -projects should generate new start-ups in designated sectors or generate new, incremental direct investment;
   
• Increase technological capacity - projects should generate new, incremental expenditures in research and development, particularly in the area of commercialization of research;
   
• Industrial benefits - projects should generate new and incremental sales by Cape Breton Island businesses to oil and gas and environmental remediation industries