Grants are…
A financial award given to an eligible grantee where the grant amount is not expected to be repaid by the recipient, and is meant for use by charitable organizations/nonprofit entities, small business enterprises, educational institutions, or individuals.
Two broad ways to think of grants:
- Type of funding source
- Target area, sector, nature of the foundation, socio-economic need
Federal + Ontario Government = $35 billion
http://www.grants.gov.on.ca/GrantsPortal/en/OntarioGrants/GrantsHome/index.htm
Significant challenges:
- The application process is intense
- A team effort is mandatory (exemplary team management, project management, time management, and organizational skills as well as good writing)
- Grant provider needs to be clearly convinced about applicant’s need, and it’s fit within their mandate
The Grants Process:
Image Source: http://www.keepoklahomabeautiful.com/the-grant-writing-process
3 Key Components of Grant Writing:
Help me find money for my business!