Alberta Innovates — Industry Commercialization Associates
AB, Canada
Apply for the Industry Commercialization Associates Program to de-risk technology commercialization and accelerate your business growth!
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|closingDateAugust 29, 2022
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Professional, scientific and technical services
grant_single|grantors
- Alberta Innovates
grant_single|status
grant_card_status|closed
grant_single_labels|preview
The Industry Commercialization Associates Program provides Alberta-based small to medium enterprises (SMEs) with up to $120,000 per year to cover employee salaries aimed at advancing the commercialization of new technology and innovative products. Eligible activities include attracting and retaining business talent, de-risking commercialization efforts, and promoting revenue, export growth, and investment positioning. The program requires a minimum 25% cash contribution from the SME and supports a one-year term with a possibility of extension for a second year based on project performance.
grant_single_labels|projects
The Industry Commercialization Associate Program aims to accelerate and progress the commercialization of new technology and innovative products by providing funding support. The eligible projects must align with the program's objectives, be completed within a one-year term, and outline the required financial contribution by the applicant.
- Accelerate the commercialization of new technologies
- Advance commercialization of innovative products
- Create jobs for business professionals in Alberta
- Provide financial resources to de-risk new tech commercialization
- Meet critical "go/no-go" milestones within the project timeline
grant_single|admissibleProjectsExample
$102,000
Edmonton
Commercialization of eco-friendly water filtration systems
$120,000
Calgary
Development of AI-driven marketing analytics platform
$120,000
Toronto
Implementation of a blockchain-based supply chain management system
$108,000
Ottawa
Development of a mobile app for health and wellness tracking
$97,500
Vancouver
Launch of a sustainable packaging solution for food products
$97,500
Montreal
Creation of an online platform for local artisans to sell their products
grant_single_labels|admissibility
The Industry Commercialization Associates Program is open to for-profit organizations or SMEs based in Alberta with fewer than 500 full-time employees and less than $50,000,000 in annual gross revenue. Additionally, applicants must contribute a minimum of 25% of the associate’s salary in cash and cannot have more than two active Alberta Innovates-funded associates simultaneously.
- Not have more than two active Alberta Innovates-funded associates simultaneously
- Exist as a corporate person, with up-to-date corporate filings
- Be authorized to undertake the proposed project, and execute a grant with Alberta Innovates on standard terms
- Not be in bad financial standing with Alberta Innovates or its subsidiaries
- Incorporated in Alberta or extra-provincially registered in Alberta, or be a registered General, Limited, or Limited Liability Partnership in Alberta
- Fewer than 500 full-time employees
- Less than $50,000,000 in annual gross revenue
- Alberta-based with a significant physical and operational presence in Alberta
- Appropriate Alberta ownership with operational benefits flowing primarily within Alberta
grant_eligibility_criteria|who_can_apply
The Industry Commercialization Associates Program is open to Alberta-based small and medium enterprises (SMEs) in the technology and knowledge-based sectors that meet specific criteria. Eligible companies should have fewer than 500 full-time employees and less than $50,000,000 in annual gross revenue.
- For-profit organizations or SMEs
- Incorporated in Alberta or extra-provincially registered in Alberta
- General Partnership, Limited Partnership, or Limited Liability Partnership registered in Alberta
- Alberta-based with a significant physical and corporate operational presence in Alberta
- Fewer than 500 full-time employees
- Less than $50,000,000 in annual gross revenue
- Authorized to undertake the proposed project
- In good financial standing with Alberta Innovates
- Not have more than two active Alberta Innovates-funded associates simultaneously
grant_eligibility_criteria|eligible_expenses
Yes, eligible expenses for this grant include costs incurred after the Investment Agreement signing related to the salaries of employees involved in commercialization within Alberta. Any costs above market prices or incurred prior to the agreement are not eligible.
- Salaries of employees involved in commercialization
- Costs incurred after the Investment Agreement signing
- Reasonable costs based on market prices
- Costs between arm’s-length entities
grant_eligibility_criteria|zone
The eligible geographic zone for this grant is Alberta, Canada.
- Alberta-based and owned companies
- Companies must have a significant physical and corporate operational presence in Alberta
- Appropriate Alberta ownership
- Operational benefits must primarily flow within the Province of Alberta
grant_single_labels|criteria
Yes, Alberta Innovates evaluates submitted applications to the Industry Commercialization Associate Program based on various business and technical factors to determine fit with the program objectives and intended outcomes.
- Management team strength
- Market conditions
- Competitive advantage and product/market fit
- Go-to-market plan
- Financials
- Technical feasibility
- Export potential
- Associate’s suitability and project work plan
- Successful completion of year-one milestones (for second-year funding eligibility)
grant_single_labels|register
- Step 1: Pre-Application Connection
- All interested Applicants must engage with a Technology Development Advisor prior to applying online.
- TDAs provide guidance and coaching and assess an applicant’s program readiness.
- The Applicant may apply in two stages:
- Stage 1: Associate not yet identified, the Applicant has six months to submit the Associate and Project sections of the Application
- Stage 2: Associate identified at time of application
- Step 2: Application and Evaluation
- Access and submit application form on the online application portal at any time.
- Applications outline:
- Applicant’s management and project team
- Innovation and Market opportunity
- Activities and Outcomes for the project
- Applicant’s current financial state
- Step 3: Project Management and Follow-up
- For approved applications, the Applicant will execute an Investment Agreement with Alberta Innovates to proceed with the activities of the Project.
- TDAs will monitor the progress of the project and provide coaching to the Applicant.
- Reporting includes Progress Report (6 months) and Final Report (12 months).
- If the project meets criteria, TDA will discuss second year funding option.
grant_single_labels|otherInfo
The Industry Commercialization Associates Program is managed by the Entrepreneurial Investments unit within Alberta Innovates to support innovation in Alberta through coaching, community, and capital. The program runs on a continuous intake basis and offers a structured evaluation process for applicants.
- All applications must be submitted through the SmartSimple online application portal.
- Applicants must engage with a Technology Development Advisor before applying online.
- The program provides funding on a milestone completion basis requiring a mid-point Progress Report and Final Report.
- Alberta Innovates evaluates applications based on management team, market conditions, competitive advantage, product/market fit, financials, technical feasibility, and export potential.
- Eligible projects must align with the objectives of the program and be completed within a 1-year term, with possible eligibility for a second year of funding.
- Projects may be monitored for up to five years after completion for Alberta Innovates to evaluate the economic, social, health, and/or environmental benefits.
grant_single_labels|contact
intake@albertainnovates.ca
403-210-5229
Apply to this program
Industry Commercialization Associates Program
The Industry Commercialization Associates Program offers Alberta-based SMEs up to $120,000 in non-dilutive funding annually to support employee salaries for advancing the commercialization of innovative technologies, aiming to accelerate product market readiness, create jobs, and foster economic growth.
Comprehensive Guide to the Industry Commercialization Associates Program
The Industry Commercialization Associates Program, initiated by Alberta Innovates, is a pivotal funding opportunity aimed at backing Alberta-based SMEs in their journey toward commercializing innovative technologies and products. This program provides substantial financial support to help businesses attract and retain top talent, thus accelerating their commercialization efforts and fostering economic growth within the province. This guide delves deeply into the details of the program, including its objectives, eligibility criteria, application process, funding specifics, and anticipated outcomes.
Program Objectives
The Industry Commercialization Associates Program is crafted with several key objectives in mind: - **Accelerate Commercialization**: The program targets SMEs that have promising technologies and a clear product-market fit, enabling them to speed up the journey from research to marketable products. - **Job Creation**: By providing funding for highly skilled associates, the program aims to create valuable job opportunities in the technology and innovation sectors. - **De-risking Commercialization**: It offers financial resources to reduce the risks associated with bringing new tech or innovation-based products to market. - **Economic Growth and Diversification**: The program promotes revenue growth, export expansion, and increased investment in Alberta’s economy.
Eligibility Criteria
To qualify for the Industry Commercialization Associates Program, both the applicant and the project must meet specific eligibility requirements:
Applicant Eligibility
- The applicant must be a for-profit organization or an SME. - Must have fewer than 500 full-time employees and less than $50,000,000 in annual gross revenue. - Should be headquartered in Alberta or have a significant operational presence within the province. - Must not have more than two active Alberta Innovates-funded associates at the same time. - Additionally, the applicant must be in good financial standing with Alberta Innovates, its subsidiaries, and not have past bad debts.
Associate Eligibility
- The associate must possess the advanced technical skills required to drive the commercialization project. - There should be no conflict of interest between the associate and the applicant (e.g., no legal relationships or substantial ownership in the applicant's company). - The associate must be willing to work in Alberta and provide a letter of intent to participate in the project. - Must not have been employed by the applicant for more than twelve months prior to the application.
Project Eligibility
- The project should directly align with the program’s objectives. - Should demonstrate a clear pathway with critical go/no-go milestones for commercialization. - Must be structured to be completed within a one-year term. - The project can be eligible for a second year of funding if it demonstrates substantial progress and meets specific criteria.
Funding Details
The program provides up to $120,000 per year to cover the associate’s salary. The applicant must provide a minimum of 25% of the associate's salary in cash. The total eligible salary for the associate should therefore be at least $160,000 per year if the maximum funding amount is received. Funds are disbursed directly to the applicant and cover reasonable costs incurred post the signing of the Investment Agreement with Alberta Innovates.
Application Process
The application process for the Industry Commercialization Associates Program involves several key steps:
Pre-Application Connection
Interested applicants must engage with a Technology Development Advisor (TDA) before submitting an online application. TDAs provide essential guidance and evaluate the applicant’s readiness for the program.
Two-Stage Application
1. **Stage 1**: Application submission without the identified associate. The applicant has six months to complete the associate and project sections of the application. 2. **Stage 2**: Application submission with a fully identified associate and a comprehensive project plan.
Application Evaluation
- Applications are thoroughly reviewed by Alberta Innovates’ staff and external experts. - Evaluations consider factors such as the management team, market conditions, competitive advantage, technical feasibility, and potential for export growth. - The evaluation process is conducted in three stages focusing on the applicant’s suitability, the associate’s fit, and the project's work plan and milestones.
Investment Agreement and Project Management
Successful applicants must sign an Investment Agreement, outlining project responsibilities and reporting requirements. Progress and final reports are essential to receive milestone payments.
Expected Outcomes and Performance Measurement
Alberta Innovates aims to measure and maximize the impact of its investments through clearly defined metrics. These metrics include job creation, revenue and export growth, investment in SMEs, and progression in commercialization. The outcomes are monitored up to five years post-project completion to assess long-term benefits to Alberta’s economy.
Contact Information
For further details or assistance with the application process, applicants can contact: Angela Contardi Business Partner, Entrepreneurial Investments Tel: (780) 450-5126 Email: angela.contardi@albertainnovates.ca The Industry Commercialization Associates Program is a substantial opportunity for Alberta-based SMEs to advance their innovative products and technologies. By offering significant financial support, the program helps mitigate commercialization risks and fosters economic development, making it a crucial initiative for the growth and diversification of Alberta’s economy.
