What Can NSM Funding Be Used For?

The maximum lifetime awarded amount through the North Slope Marketplace is $25,000 and AGC pays out the award directly to vendors and supplies as much as possible. Before funding can be disbursed, AGC needs a copy of a W-9 form from the business AGC will be disbursing to. There are general guidelines for how funding can be used, although AGC, Arctic Slope Regional Corporation, and/ or the North Slope Marketplace Committee may put restrictions or conditions on awards and disbursements as deemed necessary.

Acceptable Uses of NSM Funds

  • Expenses related to legally operating a business, including purchasing a business license and business insurance
  • Inventory purchases
  • Equipment, tools, and supplies purchases
  • Computer software purchases, including QuickBooks or other accounting software, Microsoft Office, AutoCAD, or other software relevant and necessary to business functions
  • Business space purchases or expansion costs
  • Renovations/ upgrades to business space, including electrical upgrades, plumbing upgrades, energy efficiency upgrades, and other costs associated with bringing building space up to code
  • Approved training courses directly related to business functions
  • Prototype development/ patenting costs (funding restrictions may apply)
  • Relevant equipment and vehicle repairs
  • Freight/ shipping costs associated with business purchases
  • Business marketing expenses, including banners, flyers, and business cards

Unacceptable Uses of NSM FundingĀ 

  • Working capital
  • Personal expenses and paying off personal debt
  • Travel expenses
  • Reimbursements for purchases made prior to NSM awards being granted
  • Salaries/ wages

NSM Official Contest Rules, guidelines for applying and funding, and North Slope Marketplace policies are subject to change at any time without notice