Announcements & News Releases
"NLFC Announces over $140,000 in Funding for Co-operative Incubator Pilot Program"
"Government of Canada Invests in Development and Growth of Co-operatives"
Project Description
The Newfoundland-Labrador Federation of Co-operatives is thrilled to announce that we will be piloting a Co-operative Incubator Program for groups interested in starting new co-operatives in the Northeast Avalon Region of Newfoundland & Labrador in 2024!
The Pilot of the Co-operative Incubator will support five groups interested in starting new co-operative enterprises to go from idea to incorporation in a robust 6-month long program. The primary aspects of the program are a schedule of Trainings and Workshops, Mentoring Teams, Coworking and Peer Support Opportunities, as well as Access to Funding.
Location: For the pilot of this program, municipalities included in the Northeast Avalon Region will be considered to be St. John’s, Mount Pearl, Paradise, Conception Bay South, Holyrood, Petty Harbour/Maddox Cove, Portugal Cove-St. Philips, Bell Island, Bauline, Pouch Cove, Flatrock, Torbay, Logy Bay-Middle Cove-Outer Cove, Bay Bulls and Witless Bay.
Application Period: November 2023 – January 2024
Program Period: February 2024 – July 2024
Stay tuned for more details, coming soon!
Supporters & Quotes
Atlantic Canada Opportunities Agency
Regional Economic Growth through Innovation Fund
Department of Industry, Energy and Technology
Regional Development Fund
“Co-operatives and credit unions are democratically controlled organizations focused on achieving common goals and supporting the economic and social well-being of the communities they serve. Deeply connected to their communities, co-operatives understand local economic realities and help create inclusive economies that benefit all. Guided by our values of fairness, honesty, and trust, credit unions share a commitment to helping build strong, vibrant communities. Collaborating on initiatives like the NLFC’s Co-operative Incubator Project strengthens the co-operative movement by fostering the growth, development, and success of new and emerging co-operative enterprises.”
– Paul Masterson, President & CEO of Atlantic Central and League Savings and Mortgage
“When confronted by challenges as individuals, we might be tempted to despair. Yet through co-operative business philosophies – and the important lessons we learned during the pandemic about collective adaptability, agility, and resilience – our communities can face uncertainties together with strength. Co-operatives are guided by principles that include ‘co-operation among co-operatives’; meaning we work together to strengthen and grow our business model. Co-operators is proud to support the Newfoundland and Labrador Federation of Co-operatives‘ Co-operative Incubator Project to build capacity and tap into the collective strength of our community to meet our own needs though growing the co-operative business model.”
– John Harvie, Board Chairperson of Co-operators
“Co-operatives and credit unions are values-based organizations, uniquely positioned to meet the economic, social, and cultural needs of our communities and stakeholders. This is highlighted throughout our province, as we have seen a diverse range of co-operatives formed to fill gaps that are otherwise unsolved through traditional models. Atlantic Edge Credit Union (AECU) is proud to support the Co-operative Incubator Project through the NLFC, knowing that these newly emerging co-ops will continue to strengthen and empower our province and communities, providing ethical, sustainable value to all.”
– Cory Munden, CEO of Atlantic Edge Credit Union
Get Involved
How can you get involved in creating the next generation of co-ops in Newfoundland & Labrador?
- Facilitate an informational and interactive training or workshop on a topic relevant to starting new co-ops (for example, governance, strategic planning, social impact, team dynamics, community relations, and so much more)
- Become a mentor to start-up co-op enterprises (for example, you are a co-op leader or developer, have any kind of industry expertise, are a business or economic development officer, are a community leader in any way, have financial or legal expertise, etc.)
- Make suggestions for coworking spaces that we can offer to participants of the co-operative incubator pilot program in the Northeast Avalon Region of NL
- Make a financial contribution/sponsorship to this project or offer support for participants to avail of funding or financing you are familiar with
- Share this news and opportunity with your team, board, members, partners, clients, friends, and community!
Stay in Touch
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Project Contact:
Kristen Murray, Project Specialist
Office: (709) 726 – 9434
Cell: (709) 697 – 5810
*When calling, please leave a message mentioning this project with your name and number for calling you back.