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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|terms_and_conditions
The Micro Voucher Program from Alberta Innovates provides specific funding conditions to support eligible projects in technology development. The program offers financial coverage for various project-related expenses as outlined below.
- Non-dilutive funding up to $10,000 for eligible technology design and development activities.
- Funding covers expenses like design, engineering, prototype development, product testing, refinement, certification costs, advanced business strategies, and patent development (excluding maintenance fees).
- Recipients must provide a minimum 25% cash contribution towards the total project costs.
- The program allows for financial support of advanced market assessments and segmentation analysis.
- Additional eligible technology development activities are considered on a case-by-case basis.
grant_single_labels|projects
The Micro Voucher Program facilitates the creation and enhancement of Alberta's technological landscape. Projects under this program aim to foster innovation through various stages of technology development and business strategy enhancement.
- Design, engineering, and prototype development.
- Product testing and refinement.
- Patent development (excluding patent maintenance fees).
- Advanced market assessment or segmentation analysis.
- Certifications to support product positioning.
- Advanced business and/or marketing strategies.
- Case-by-case considered technology development activities.
grant_single|admissibleProjectsExample
$ 10,000
Certifying an eco-friendly packaging solution for food products
$ 10,000
Development of an AI-driven financial advisory tool
$ 9,000
Assessing market segmentation for a new organic skincare line
$ 10,000
Patent development for a new green energy technology
$ 10,000
Developing a prototype of a wearable health monitoring device
$ 10,000
Testing and refinement of a new biodegradable plastic alternative
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's profile and proposed activities.
- The applicant must be a for-profit organization.
- The applicant must meet the definition of an SME: a company with fewer than 500 full-time employees and less than $50,000,000 annual gross revenue.
- The applicant must be incorporated in Alberta and/or incorporated in another jurisdiction and extra-provincially registered in Alberta.
- The applicant must be a general partnership, limited partnership, or limited liability partnership registered in Alberta.
- The applicant must exist as a corporate person, with up-to-date corporate filings, and be authorized to undertake the proposed project and execute a grant with Alberta Innovates on their standard terms.
- The applicant must not be prohibited from receiving Alberta Innovates funding due to past bad debt or financial standing issues with Alberta Innovates or its subsidiaries.
- The applicant must be an Alberta-based company with a significant physical and corporate operational presence in Alberta, appropriate Alberta ownership, and show discernable intent that operational benefits will primarily flow within Alberta.
grant_eligibility_criteria|who_can_apply
The Micro Voucher Program is open to Alberta-based tech companies that meet certain eligibility criteria. The program specifically supports Small and Medium Enterprises (SMEs) looking to innovate and commercialize their technological solutions.
- Alberta-based SMEs with fewer than 500 full-time employees and less than $50,000,000 in annual gross revenue.
- Companies that can provide a minimum 25% cash contribution towards total project costs.
- Businesses with a novel technology demonstrating potential for intellectual property development.
- Companies whose digital technology could scale up within one to two years if successful.
- Organizations that have clearly defined functional requirements and a technically feasible concept.
- Companies working towards establishing a management team and foundational business agreements.
- Businesses that can identify target customers, customer segments, and possible markets.
- SMEs that have completed an initial high-level competitive position analysis and understand regulatory hurdles.
- Projects that can be completed within six months and meet the specific technological solutions outlined.
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 supports Alberta tech companies in moving their technological innovations closer to commercialization. The eligible activities focus on various aspects of product development and market validation.
- Design, engineering, and prototype development to refine technological solutions.
- Product testing and refinement to ensure market readiness.
- Development of patents (excluding patent maintenance fees) to protect intellectual property.
- Conducting advanced market assessments or segmentation analysis.
- Pursuing advanced business and/or marketing strategies to enhance market entry.
- Other technology development activities evaluated on a case-by-case basis.
grant_eligibility_criteria|zone
This grant is specifically available to companies based in Alberta, targeting technological development within this region. Applicants must demonstrate a significant physical and corporate presence in Alberta.
- Companies registered and operating in Alberta, Canada.
grant_single_labels|criteria
The evaluation and selection of projects for the Micro Voucher Program are conducted based on various business and technical factors to ensure alignment with the program's objectives of technological advancement and economic growth for Alberta.
- The management team's capability and experience in leading the project.
- Market conditions and the competitive advantage of the proposed technology.
- Assessment of product/market fit and strategic go-to-market plans.
- Financial sustainability and growth/export potential of the business.
- Technical feasibility of the project with clear implementation plans.
- Overall potential return to Alberta, considering economic, social, health, and environmental benefits.
- Risks associated with the project and strategies to mitigate them.
grant_single_labels|register
- Step 1: Project Scoping (Identify Project Need)
- Identify the project need and obtain a quote from a service provider to complete the project.
- Engage with a Technology Development Advisor (TDA) to assess readiness and receive guidance.
- Consider other Alberta Innovates funding programs or external funding opportunities if needed.
- Step 2: Application & Evaluation (Submit Application Form)
- Access and submit the application form via the online application portal at any time.
- Include details such as the current state of the opportunity, business readiness, service provider participation, intended project benefits, and current financial status.
- Step 3: Project Management (Execution and Monitoring)
- Execute an Investment Agreement with Alberta Innovates upon approval of the application.
- Work with an assigned TDA, if not already engaged, to monitor project progress and receive coaching.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- This grant supports projects that can potentially attract follow-on investment to accelerate growth and scale-up.
- The funding is disbursed after the receipt and approval of a final report for the project.
- The grant encourages co-funding with other agencies, provided that total government assistance does not exceed 75% of eligible project costs.
- Alberta Innovates performs due diligence, which may include corporate, bankruptcy, and litigation searches on applicants and service providers.
- Successful applicants are expected to engage actively with a Technology Development Advisor for project management and coaching.
- Performance of the project may be monitored for up to five years post-completion to evaluate ongoing benefits.
- The project outcomes must align with Alberta Innovates' objectives and contribute to job creation, revenue growth, and technology scale-up.
- Final project outcomes must be reported, demonstrating economic, social, health, and environmental benefits to Alberta.
- Applicants should maintain communication with Alberta Innovates and comply with confidentiality and conflict of interest policies during the evaluation process.
grant_single_labels|contact
intake@albertainnovates.ca
403-210-5229
