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Diversification and New Market Program

This funding program aims to assist Saskatchewan tourism businesses by supporting and facilitating the development of new experiences and/or new markets for an established tourism product.

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Diversification & New Market Program

 

The Diversification and New Market Program intake is now open until 4:00 p.m., June 15th, 2022.  Apply NOW.

 
 
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.

 

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. (see below).

 

Eligible Applicants

Existing Saskatchewan tourism businesses that are Market-Ready. (click to download PDF)


Available Streams

There are 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)

Applicants are Required to Provide the Following:

  • Program Application
  • Third Party, accountant-prepared Financial Statements (must include a Profit and Loss Statement and Balance Sheet)
  • Proof of business insurance (including liability limit)
  • Business plan including:
    • Financial plan
    • Human resource plan
    • Marketing plan
    • Risk management plan
    • Operational plan

 

Resources (click to download PDFs):

Program Guidelines

Frequently Asked Questions

Application Example

 

Eligible Expenses:

  • Infrastructure development
  • Training for delivery of guided experiences
  • Packaging expenses, such as commissions management, inventory management, costs associated with online booking systems and distribution channels, etc.
  • All development or enhancement costs of tourism experiences with a focus on reaching new markets
  • Development of new experiences or products to extend operations into shoulder seasons or winter, or to expand current product offerings.

 

Project Requirements (ALL of the following requirements MUST be met):

  • Incorporates ALL of the following package elements: food and beverage, accommodation, transportation, recreation and entertainment (“transportation” refers to ‘in activity transportation’ i.e. how you will move your customers around to each element of the experience, assuming the elements may be spread apart geographically);
  • Incorporates products that are available at a single-point of purchase;
  • Potential exists for present infrastructure to attract new markets or expand into a new season;
  • All projects must demonstrate alignment to Tourism Saskatchewan’s priority markets or provide future potential alignment for those markets;
  • Encourages the development of a unique Saskatchewan experience by aligning new product and experience development to Tourism Saskatchewan’s brand pillars: Land and Sky, Time and Space, and Community. (Review Bringing the Saskatchewan Tourism Brand to Life for guidance on weaving brand themes into your activities);
  • Supports projects within communities and destination areas that contribute to the development of new or enhancement of existing tourism experiences. Special attention will be paid to projects that reflect the following experiential themes:
    • embracing Saskatchewan life
    • pursuing Saskatchewan adventure
    • savouring Saskatchewan flavours
    • experiencing Saskatchewan creativity
  • Offers a package of goods and/or services that address customers’ complete needs during their stay;
  • Shows an effective use of funds and demonstrates ability to deliver on project outcomes; and
  • Project must be completed on or before March 31, 2024.

 

Need help?

If you have questions about the program, please contact Tourism Saskatchewan's Industry Development department:

Darcy Acton, Industry Development Consultant, at (306) 933-7493 or darcy.acton@tourismsask.com

Prat Das, Information and Business Intelligence, at (306) 933-7538 or pratysh.das@tourismsask.com

 

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