Alberta Innovates — Micro Voucher Program
AB, Canada
Voucher for SMEs in early-stage tech development in Alberta
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Professional, scientific and technical services
grant_single|grantors
- Alberta Innovates
- Government of Alberta
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get up to $10,000 paid directly to a service provider to support technologies in the early development stages.
grant_single_labels|projects
The Micro Voucher Program supports various technological development activities by offering funding to Alberta tech companies. These activities are aimed at advancing business opportunities closer to commercialization.
- Design, engineering, and prototype development
- Product testing and refinement
- Patent development (excluding patent maintenance fees)
- Advanced market assessment or segmentation analysis
- Certifications
- Advanced business and/or marketing strategies
- Other technology development activities considered on a case-by-case basis
grant_single|admissibleProjectsExample
$10,000
Vancouver
Certifying an eco-friendly packaging solution for food products
$10,000
Ottawa
Development of an AI-driven financial advisory tool
$9,000
Toronto
Assessing market segmentation for a new organic skincare line
$10,000
Edmonton
Patent development for a new green energy technology
$10,000
Calgary
Developing a prototype of a wearable health monitoring device
$10,000
Montreal
Testing and refinement of a new biodegradable plastic alternative
grant_single_labels|admissibility
The company eligibility criteria for the Micro Voucher Program are as follows:
- The applicant must be a For-Profit Organization.
- The company must have fewer than 500 full-time employees and less than $50,000,000 in annual gross revenue.
- The company must be incorporated in Alberta and/or incorporated in another jurisdiction and extra-provincially registered in Alberta.
- The company can be a General Partnership, Limited Partnership, or Limited Liability Partnership and must be registered in Alberta.
- The company must exist as a corporate person, with up-to-date corporate filings.
- The applicant must not be prohibited from receiving Alberta Innovates funding due to past financial issues with Alberta Innovates or its subsidiaries.
- The company must be an Alberta-based entity with a significant physical and corporate operational presence in Alberta, appropriate Alberta ownership, and intent that operational benefits will primarily flow within Alberta.
grant_eligibility_criteria|who_can_apply
The Micro Voucher Program is open to small and medium enterprises (SMEs) that are Alberta-based or have a significant operational presence in Alberta. The program is designed to support tech companies involved in the development of novel technology solutions.
- For-Profit organizations.
- Companies with fewer than 500 full-time employees and less than $50,000,000 in annual gross revenue.
grant_eligibility_criteria|who_cannot_apply
There are specific types of companies that are not eligible for this grant:
- Organizations with 500 or more full-time employees.
- Companies with annual gross revenue exceeding $50,000,000.
grant_eligibility_criteria|eligible_expenses
The Micro Voucher Program covers several eligible project expenses related to technology development and commercialization.
- Design, engineering, and prototype development
- Product testing and refinement
- Patent development (excluding patent maintenance fees)
- Advanced market assessment or segmentation analysis
- Certifications
- Advanced business and/or marketing strategies
- Other technology development activities considered on a case-by-case basis
grant_eligibility_criteria|zone
Companies eligible for the Micro Voucher Program must be based in Alberta or have a significant operational presence in Alberta. The program is designed specifically for Alberta-based small and medium enterprises (SMEs) to help them develop innovative technology solutions.
- Alberta
grant_single_labels|criteria
The evaluation and selection criteria for projects applying to the Micro Voucher Program focus on the technology, business opportunity, applicant risks, and potential return to Alberta, alongside other business and technical factors.
- The technology and its feasibility
- The business opportunity and market conditions
- Applicant risks and potential size of the return to Alberta
- The management team
- Competitive advantage
- Product/market fit and go-to-market plan
- Financials and growth/export potential
- Alignment with the objectives of the Micro Voucher Program
- Participation of a service provider
grant_single_labels|register
Step 1: Project Scoping
- Identify the project need
- Obtain a quote from a service provider to complete the project
- Engage with a Technology Development Advisor (TDA) for guidance and assessment of Micro Voucher readiness
- Receive recommendations for suitable alternative funding programs if necessary
Step 2: Application & Evaluation
- Access and submit the application form through the online application portal
- Provide details on the current state of the opportunity, business readiness, service provider participation, intended project and benefits, and current financial state
- Ensure applications are evaluated to determine fit with program objectives and intended outcomes
Step 3: Project Management
- Execute an Investment Agreement with Alberta Innovates for approved applications
- A TDA is assigned to the project and oversees progress, offering coaching as needed
- Actively participate in project management activities and work with the TDA
grant_single_labels|contact
intake@albertainnovates.ca
403-210-5229
Apply to this program
Alberta Innovates Micro Voucher Program Overview
The Alberta Innovates Micro Voucher Program offers non-dilutive funding of up to $10,000 to assist Alberta-based small to medium enterprises (SMEs) in the technological development and commercialization process. This program supports companies in Alberta by providing financial assistance for prototype development, product testing, and advanced market analysis to promote business growth and innovation.
Detailed Explanation of the Alberta Innovates Micro Voucher Program
The Alberta Innovates Micro Voucher Program is a vital initiative tailored for small to medium enterprises (SMEs) based in Alberta, aimed at catalyzing local technological innovations. This program provides up to $10,000 in non-dilutive funding, strategically designed to help young and growing companies in Alberta turn their innovative ideas into market-ready solutions. By supporting projects that range from design and engineering to prototype development and market analysis, the program aims to de-risk technology solutions and facilitate the move towards commercialization and scale-up. The Micro Voucher Program operates under the Entrepreneurial Investments business unit of Alberta Innovates and forms part of a broader suite of funding options tailored for SMEs. This specific program places emphasis on supporting the initial stages of problem/solution fit and advancements towards product/market fit. Such support is critical in propelling SMEs towards additional investment opportunities, which can further accelerate their growth trajectory and scaling efforts. A significant feature of the Micro Voucher Program is its continuous intake model. This means that eligible SMEs can apply at any time, giving them the flexibility to align the funding process with their specific project timelines. The application process begins with project scoping, where an applicant identifies their project needs and collaborates with a service provider to obtain a project quote. Subsequently, applicants are encouraged to engage with a Technology Development Advisor from Alberta Innovates to assess readiness and explore other possible funding opportunities. Once the application is submitted online, it undergoes a rigorous evaluation process. Alberta Innovates employs both internal staff and external expert reviewers to ensure that applications align with the program's objectives and intended outcomes. Key factors considered during the evaluation include technology readiness, market potential, competitive advantage, and financial feasibility. This thorough review process guarantees that only projects with the potential to deliver substantial returns to Alberta's economic landscape receive funding. Approved applicants enter into an Investment Agreement with Alberta Innovates, marking the official start of the funded project. Throughout the project tenure, typically set at a maximum duration of six months, a Technology Development Advisor is assigned to monitor progress, offering guidance and support to ensure successful completion. Alberta Innovates adopts a performance-driven approach, requiring milestone-based reporting to gauge project success and facilitate milestone payments. The program stipulates a 25% cash contribution from the applicant towards the project's total eligible costs, underscoring Alberta Innovates' emphasis on fostering strong financial commitment from participating companies. Additionally, there is a stacking limit in place to ensure that total government assistance does not exceed 75% of eligible project costs, thereby encouraging applicants to co-fund projects with other agencies. By offering this financial support and access to strategic advisory services, the Alberta Innovates Micro Voucher Program aims to create globally competitive SMEs that contribute to net job creation and enhanced revenue and export growth in Alberta. The program is meticulously crafted to promote technological progression and enhance companies' readiness to enter and compete in international markets. In sum, the Alberta Innovates Micro Voucher Program stands as a pivotal support mechanism for Alberta's SMEs, driving innovation and ensuring these enterprises can successfully transition from conceptual ideas to fully commercialized products. This support not only bolsters the Alberta economy but also positions the province as a leader in technological advancements and sustainable economic development. By investing in these early-stage projects, Alberta Innovates plays an essential role in fostering an ecosystem that supports long-term economic sustainability and prosperity within the region.
