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
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- 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
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grant_card_status|open
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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
The Voucher Program offers funding to Alberta tech companies for various project activities aimed at advancing technology towards commercialization. These projects can help enhance business and technological development across several areas.
- New product research and development
- Leading-edge design, engineering, and prototype development
- Advanced product testing and refinement
- Patent development
- Advanced market assessments
- Other technology development activities considered on a case-by-case basis
grant_single|admissibleProjectsExample
$90,000
Toronto
Developing an advanced AI-driven diagnostic tool for medical imaging
$85,000
Calgary
Developing a next-gen agricultural drone for precision farming
$90,000
Winnipeg
Innovative water purification system for remote communities
$95,000
Montreal
Developing a smart irrigation system for urban green spaces
$75,000
Vancouver
Creating an eco-friendly packaging alternative for the food industry
$85,000
Ottawa
Development of a wearable medical device for continual glucose monitoring
grant_single_labels|admissibility
The eligibility criteria for the company applying for the Voucher Program grant are as follows:
- 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 prohibited from receiving Alberta Innovates funding, for reasons such as past bad debt.
- Incorporated in Alberta AND/OR incorporated for-profit organizations in another jurisdiction and extra-provincially registered in Alberta.
- Be a for-profit organization, General Partnership, Limited Partnership, or Limited Liability Partnership registered in Alberta.
- Have fewer than 500 full-time employees and less than $50,000,000 in annual gross revenue.
- Must be Alberta-based with a significant physical and corporate operational presence in Alberta; appropriate Alberta ownership; and operational benefits intended to flow primarily within Alberta.
grant_eligibility_criteria|who_can_apply
The Voucher Program is open to small to medium-sized enterprises (SMEs) with novel and promising technologies that are working towards commercialization. Companies must have an Alberta footprint to qualify for this grant.
- Alberta-based tech and innovation companies
- For-profit organizations that are incorporated or registered in Alberta
grant_eligibility_criteria|who_cannot_apply
The Voucher Program primarily focuses on tech and innovation companies with specific eligibility criteria. However, certain restrictions apply to the companies based on their status and main activity.
- Must be a for-profit organization
- Must be incorporated or registered in Alberta
- Must not exceed 500 full-time employees
- Annual gross revenue must be under $50,000,000
- Must not be prohibited from receiving Alberta Innovates funding due to past financial issues
grant_eligibility_criteria|eligible_expenses
The Voucher Program outlines eligible project expenses, particularly those incurred after an Investment Agreement is signed:
- Costs must be for advancing the technology towards commercialization.
- Expenses must be between arm’s-length entities.
- Eligible expenses are those which are reasonable and market priced.
- Costs should be incurred during the project term as per the Investment Agreement.
grant_eligibility_criteria|zone
The Voucher Program is eligible to Alberta-based for-profit organizations with an Alberta footprint. Companies incorporated outside of Alberta can also be eligible if they are extra-provincially registered in Alberta.
- Alberta-based companies
- Companies incorporated in another jurisdiction but registered in Alberta
grant_single_labels|criteria
Projects for the Alberta Innovates Voucher Program are evaluated and selected based on various criteria that assess the technology, business opportunity, applicant risks, and potential return to Alberta.
- Alignment with the objectives and intended outcomes of the Voucher Program.
- Technology readiness and technical feasibility (TRL between 4-9).
- Identification of clear "go/no go" milestones with measurable target outcomes.
- Potential for technology progression and scale-up.
- Business readiness and the strength of the management team.
- Market conditions and competitive advantage.
- Product/market fit and business opportunities.
- Financial feasibility and availability of financial contribution from the applicant.
- Potential size of the return to Alberta, considering economic, social, and environmental benefits.
- Export potential and revenue growth forecasts.
grant_single_labels|register
Step 1: Project Scoping
- An Applicant identifies the Project need and obtains quotes from up to three service providers to complete the Project.
- Engage with a Technology Development Advisor (TDA) for guidance and coaching.
- Assess readiness for the Voucher program and consider alternative funding options if recommended.
Step 2: Application & Evaluation
- Access and submit the application form on the online application portal.
- Applications should include details about the current state of the opportunity, the business readiness, participation of a service provider, intended project and benefits, and current financial state.
- All applications are reviewed and evaluated by Alberta Innovates staff and external expert reviewers.
- Evaluation is based on project fit with program objectives, technology, business opportunity, applicant risks, and potential return on investment.
Step 3: Submit and Follow-Up
- Applications can be submitted anytime as the program accepts continuous intake.
- If the application is declined, applicants may re-apply one-time to address and correct any deficiencies or issues.
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Here are some additional important details for the grant applicant:
- Funding is disbursed based on milestone completion; applicants must provide progress reports for payment release.
- The Voucher Program encourages co-funding with other agencies but has a stacking limit where total government assistance cannot exceed 75% of eligible project costs.
- The program tracks performance metrics over five years post-project to evaluate the benefits to Alberta.
- An investment agreement must be signed before funding is provided; costs incurred before this are ineligible.
- Alberta Innovates might perform due diligence, including corporate, bankruptcy, and litigation searches on applicants and service providers.
grant_single_labels|contact
intake@albertainnovates.ca
403-210-5229
Apply to this program
Alberta Innovates Voucher Program Summary
Understanding the Alberta Innovates Voucher Program
The Alberta Innovates Voucher Program is a valuable funding opportunity for tech and innovation companies in Alberta. This program offers up to $100,000 to accelerate new product commercialization for businesses with unique technologies or innovations. Eligible companies can receive financial support for activities such as research and development, design, engineering, prototype development, product testing, patent development, market assessments, and other technology development initiatives. The program aims to support small to medium enterprises with fewer than 500 employees and less than $50 million in annual revenue. Businesses must be incorporated or registered partnerships in Alberta and demonstrate a 25% cash contribution towards eligible project costs. The Voucher Program is designed to help companies progress their promising technologies towards commercial success, fostering innovation and economic growth in the region.
How to Apply for the Voucher Program
To apply for the Voucher Program, interested companies need to meet the eligibility criteria outlined by Alberta Innovates. Organizations must have a new, patentable technology or innovation in the process of commercialization. The program accepts applications on a continuous basis, and potential applicants can connect with Alberta Innovates for guidance on the application process. Companies already engaged with Alberta Innovates can access and submit their application forms through the SmartSimple online portal. The evaluation process involves a thorough review of all applications to ensure alignment with the program objectives and desired outcomes. Alberta Innovates' staff and external experts assess the applications to identify projects with high potential for success and impact.
Benefits of the Voucher Program
The Voucher Program offers significant benefits to Alberta-based tech companies looking to advance their innovative products. By providing financial support for critical development activities, the program enables businesses to accelerate their commercialization efforts. Companies can leverage the funding to engage up to three contracted service providers for business and technology development services, including research, design, engineering, testing, and market assessments. The program's focus on novel and promising technologies helps companies bring cutting-edge solutions to the market, driving competitiveness and growth. Moreover, the Voucher Program encourages collaboration and partnership between businesses and service providers, fostering a culture of innovation and knowledge exchange within the tech ecosystem.
Conclusion
In conclusion, the Alberta Innovates Voucher Program offers a valuable opportunity for tech and innovation companies in Alberta to access funding and support for new product commercialization. By providing financial assistance for critical development activities, the program empowers businesses to accelerate their innovation journey and bring novel technologies to market. Through strategic investments and partnerships, the Voucher Program plays a vital role in supporting the growth and competitiveness of Alberta's tech sector, driving economic prosperity and fostering a culture of innovation in the region.
