Alberta Innovates — Voucher Program
AB, Canada
Voucher for mid-to-late stage development in Alberta
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|fromMinToMax
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Information and cultural industries
- 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 $100,000 to work in collaboration with project partners to advance technology that is in the mid-to-late developmental stages.
grant_single_labels|projects
This grant is available to companies located in specific geographical areas determined by the funding body. The eligible locations are targeted to ensure alignment with regional development goals.
- Companies must be Alberta-based with an Alberta footprint.
- Organizations must exhibit a significant physical and corporate operational presence in Alberta.
grant_single|admissibleProjectsExample
$85,000
Developing a next-gen agricultural drone for precision farming
$90,000
Developing an advanced AI-driven diagnostic tool for medical imaging
$90,000
Innovative water purification system for remote communities
$95,000
Developing a smart irrigation system for urban green spaces
$75,000
Creating an eco-friendly packaging alternative for the food industry
$85,000
Development of a wearable medical device for continual glucose monitoring
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 incorporated or registered as a partnership in Alberta.
- The organization type must be a Small to Medium Enterprise (SME).
- The company must have fewer than 500 full-time employees.
- The company must have less than $50,000,000 in annual gross revenue.
- The company must be Alberta-based, meaning it has a significant physical and operational presence in Alberta.
- The applicant must be able to contribute a minimum of 25 percent cash contribution of the total eligible project costs.
- The organization must have a new, unique technology or innovation that is patentable and working towards commercialization.
- The company must not be prohibited from receiving Alberta Innovates funding, such as due to past bad debt or not being in good financial standing with Alberta Innovates or its subsidiaries.
grant_eligibility_criteria|who_can_apply
The Voucher Program is intended for small to medium Alberta-based enterprises (SMEs) that are for-profit organizations, either incorporated or registered in Alberta, with fewer than 500 full-time employees and less than $50,000,000 in annual gross revenue. Applicants must have a significant physical and operational presence in Alberta and a contribution to the province's economy. Eligible applicants must have novel, promising technologies that are working toward commercialization and be able to contribute a minimum of 25% cash contribution of the total eligible project costs. The companies should be open to collaboration with service providers and adhere to the conditions outlined by Alberta Innovates. Furthermore, all applicants should be in good financial standing with no outstanding obligations to Alberta Innovates or its subsidiaries.
grant_eligibility_criteria|who_cannot_apply
This grant is focused on supporting eligible Alberta tech companies working towards new product commercialization. It does not specify particular exclusions, but eligibility is described rather than explicit ineligible categories.
grant_eligibility_criteria|eligible_expenses
The Voucher Program funds projects that help advance technology-based business opportunities closer to commercialization and revenue for Alberta SMEs. It supports a range of activities crucial for product development and business strategies.
- New product research and development.
- Leading-edge design, engineering, and prototype development.
- Advanced product testing and refinement.
- Patent development activities, excluding maintenance fees.
- Advanced market assessment or segmentation analysis.
- Development of advanced business and marketing strategies.
- Other technology development activities as considered on a case-by-case basis.
grant_eligibility_criteria|zone
The grant covers expenses directly related to advancing technology towards commercialization.
- New product research and development costs.
- Leading-edge design, engineering, and prototype development expenses.
- Advanced product testing and refinement costs.
- Patent development costs (excluding patent maintenance fees).
- Advanced market assessments and segmentation analyses.
- Expenses for advanced business and/or marketing strategies.
- Other eligible technology development activities considered on a case-by-case basis.
grant_single_labels|criteria
The evaluation and selection of projects for the Voucher Program are based on specific criteria to ensure alignment with the program’s objectives and intended outcomes.
- Alignment with the Voucher Program objectives and intended outcomes.
- Potential size and scalability of the return to Alberta.
- Assessment of technology readiness, including technical feasibility and innovation.
- Business opportunity analysis, including market conditions and competitive advantage.
- Strength and experience of the management team.
- Project risks associated with the application.
- Product/market fit and go-to-market strategy.
- Export potential and financial stability of the applicant.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Connect with Alberta Innovates
- Contact Alberta Innovates at 403-210-5229 or intake@albertainnovates.ca to express interest.
- Engage with a Technology Development Advisor (TDA) for guidance on project scoping.
- Step 2: Project Scoping
- Identify your project's needs and objectives.
- Obtain quotes from up to three service providers for project execution.
- Step 3: Prepare Application
- Access the application form on the Alberta Innovates online application portal, SmartSimple.
- Outline the current state of the opportunity and intended project benefits.
- Describe the participation of a service provider and the applicant's business readiness.
- Step 4: Submit Application
- Complete and submit the application form through SmartSimple at any time, as intake is continuous.
- Step 5: Application Evaluation
- Wait for your application to be reviewed by Alberta Innovates staff and external experts.
- Be prepared for any follow-up queries or requests for additional information.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Alberta Innovates encourages co-funding of projects from other funding agencies but imposes a stacking limit to ensure sufficient financial commitment from the applicant.
- The program requires applicants to hire up to three service providers for a project duration of one year maximum.
- Funding is released to the applicant based on milestone-based reports approved over the project's term.
- Alberta Innovates may conduct due diligence checks like corporate, bankruptcy, and litigation searches on applicants and service providers.
- Performance outcomes of funded projects may be monitored for up to five years post-completion for evaluation of benefits to Alberta.
- All investment decisions and evaluation processes are at Alberta Innovates' sole discretion.
- The application evaluation criteria include technology readiness, the applicant's management team, market conditions, and competitive advantage.
grant_single_labels|contact
intake@albertainnovates.ca
403-210-5229
Apply to this program
Unlocking Opportunities for Alberta's Tech Innovation
The Alberta Innovates Voucher Program offers substantial financial support, providing up to $100,000 to help small and medium-sized tech enterprises in Alberta commercialize their innovative products. This initiative aims to accelerate the market readiness of promising technologies, thus boosting Alberta's competitive edge globally.
Exploring the Alberta Innovates Voucher Program in Detail
The Alberta Innovates Voucher Program is an essential resource for tech companies looking to bring their cutting-edge innovations to market more swiftly. As a formidable pillar in Alberta's entrepreneurial investment landscape, the Voucher Program targets small to medium enterprises (SMEs) with groundbreaking technologies that promise significant commercial potential. The primary goal is to de-risk the development of these innovations through financial support, enabling firms to accelerate research, design, and development processes crucial for product commercialization.
This program is particularly noteworthy for its strategic focus on identifiable product/market fit, a key determinant of a project's potential for commercial success. By fostering this aspect, Alberta Innovates ensures that funded projects align with the province's broader economic goals, including job creation, revenue growth, and diversification of the economy. This alignment is beneficial not just for SMEs involved but also for the wider Alberta community, providing socio-economic and environmental benefits.
Eligible companies can use Voucher funding to contract up to three service providers for varied developmental tasks. These include cutting-edge product design, advanced testing, and prototype refinement. The flexibility of the program allows participants to cater to specific project needs, with activities also possibly extending to patent development and advanced market strategies, underscoring Alberta Innovates' commitment to comprehensive technology progression.
Participation in the Voucher Program involves a rigorous yet supportive application and review process. It begins with project scoping, wherein participants identify their project's needs and engage with service providers. Potential applicants are encouraged to consult Technology Development Advisors at Alberta Innovates, who provide valuable insights into the application process and ensure that project proposals align with the program's objectives.
The application evaluation process is meticulously structured, involving both Alberta Innovates’ specialists and external reviewers. This ensures objectivity and encourages high standards in technical feasibility, market potential, and management effectiveness. In this setting, the Voucher Program is a catalyst, helping SMEs navigate complex R&D landscapes with reduced financial risk.
Furthermore, Alberta Innovates maintains an active commitment to ensure continuous progress through milestone-based funding. This funding approach mandates regular reporting and proof of milestone completion, thereby encouraging applicants to maintain focus on achieving tangible outcomes. It also serves as an adaptive mechanism for applicants to realign their project strategies according to emerging insights or changes in market dynamics.
The ongoing monitoring and eventual evaluation of project outcomes play a vital role in the Voucher Program framework. Alberta Innovates tracks the impacts of funded projects over time to ensure they deliver lasting economic, social, and environmental benefits to the province. This emphasis on performance metrics reflects the organization’s broader mandate to drive impactful innovation that contributes to Alberta's sustainable future.
This unique program reflects Alberta Innovates’ strategic priority to bolster the province’s tech industry by providing targeted support to its burgeoning SMEs. Through financial assistance and a structured growth trajectory, the program empowers companies not only to realize their innovative potential but also to contribute significantly to Alberta's economic revitalization.
