The Department of Indian Affairs and Northern Development

The Department of Indian Affairs and Northern Development (DIAND) has provided $1 million toward the capitalization of the NVCLPQ investment fund through the two founding Aboriginal partners of this initiative: the Société de crédit commercial autochtone (SOCCA) and the Corporation de développement économique montagnaise (CDEM).

In the past year, DIAND has supported the development of this Quebec-based equity investment pilot project. The activities of the NVCLPQ will assist the department in determining the Aboriginal business community's demand for venture capital as well as the types of instruments that would best serve this community.

The role of DIAND is to foster the establishment of prosperous, self-reliant economies in First Nations and Inuit communities and to facilitate the participation of First Nation and Inuit people in the Canadian economy.

The department offers a variety of economic development programs and initiatives for First Nations and Inuit communities and businesses that enable them to achieve progress on a wide range of challenges related to: improved access to capital; skill development and increased experience; enhanced participation in land management and resource development; increase market access; and improved economic infrastructure.

Industry Canada's Aboriginal Business Canada Program

Industry Canada's investment in the NVCLPQ builds on the long-standing partnership already established with SOCCA and CDEM as Aboriginal Capital Corporations and External Delivery Organizations for the Aboriginal Business Canada program. The investment is an important step in the development of self-sufficient Aboriginal business and financial organizations.

Aboriginal Business Canada promotes the growth of Aboriginal businesses by providing services, information and support to clients in all sectors of the economy. Aboriginal Business Canada's work is directed by the National Aboriginal Economic Development Board, which is comprised primarily of Aboriginal business leaders and other economic and business specialists.

The program responds to emerging opportunities for growth in regional, national and international economies. Its priorities are youth entrepreneurship, innovation, trade and market expansion (including Aboriginal tourism) and strengthening Aboriginal financial and business organizations. Services and assistance are available to Canada's Aboriginal Peoples, including Canadian Status and Non-Status Indians, on or off-reserve, Inuit and Métis people.

Further information on the program can be obtained from any of Aboriginal Business Canada's nine offices across the country, through the Aboriginal Business Canada Web site at abc-eac.ic.gc.ca, or by calling 1 800 O Canada.

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