Accelerating Innovations into CarE (AICE) – Validate

The AICE – Validate program offers essential funding up to $300,000 for Alberta-based researchers and SMEs to confirm their product's market readiness and fast-track their health technology innovations towards commercialization. Through this program, the goal is to cultivate economic and health advancements by validating the core aspects of health innovations in Alberta.

The Accelerating Innovations into CarE (AICE) – Validate program acknowledges the crucial stage of product and market validation for health technologies in Alberta. This pivotal funding initiative enables Alberta-based academic institutions, researchers, and SMEs to propel their health innovations from conceptual potential to practical, market-ready solutions. By offering a substantial financial lift of up to $300,000, the program empowers entities to rigorously validate the efficacy, market fit, and regulatory pathways of their health technologies.

The AICE – Validate program specifically targets the Committing and early Validating stages as outlined in the Health Innovation Client Journey Framework. It addresses the key needs of innovators striving to secure external investment, establish a robust business model, and navigate the complexities of regulatory landscapes. By facilitating these processes, it aims to ignite a wave of growth within Alberta's health technology sector, thereby positioning the province as a leader in life sciences.

One of the unique aspects of this program is its focus on the broader impact of supported projects. The outcomes are measured not only at the individual project level but also in the aggregate effect across the portfolio, with the overarching aim of stimulating technological advancements that yield economic benefits and job creation. Health-related projects are evaluated on their potential to transition from prototype to market-ready status, attract significant investment, and foster overall industry growth. The structured funding mechanism supports projects over a two-year period, during which applicants must also secure a minimum of 25% of their project costs through their own contributions, whether in cash or as in-kind resources. This requirement ensures that applicants are committed and capable of leveraging external resources effectively.

The program also provides strategic advantages and additional resources for its applicants. By tapping into associated Alberta Innovates platforms like Entrepreneurial Investments and Technology Development Advisors, participants can access further expertise and coaching that expedite their commercialization journeys. Furthermore, cross-collaborative opportunities with partners such as AGE-WELL, NAIT’s Center for Advanced Medical Simulation, and HaloHealth provide a wider array of professional guidance and practical support.

Upcoming applicants must be diligent in aligning their project proposals with the key priorities and objectives defined by the AICE – Validate program. Amid a competitive selection process, the program seeks ventures that combine promising technology with tangible health benefits. It prioritizes projects that encapsulate innovative digital or data-enabled proposals, possess strong proof-of-concept data, and demonstrate a competitive edge over existing market solutions.

Finally, applicants who present projects with the strongest alignment to AICE's objectives and showcase readiness to progress through its stages are most likely to succeed. Those declined may take advantage of a six-month cooling-off period to reassess, enhance their submissions, and potentially reapply, maximizing their odds for success in subsequent cycles. Ultimately, the program seeks to usher in a new era of health technological advancement within Alberta, paving the way for future innovations that promise significant societal and economic impact.