How much funding can be received?

The Alberta Central Big Future Innovation Grant offers eligible Alberta-based for-profit small businesses a chance to secure maximum funding dedicated to fostering innovation and growth within the business community. The program supports businesses in engaging in lawful, compliant, and innovative operations that have been active for at least a year.

Financing terms and conditions

Two grants of $25,000 each are awarded to selected small businesses.
Funds are deposited directly into the recipient's business account at a local credit union.
The grant does not need to be repaid.
The grant amount is considered taxable income under Canadian law.

Eligible projects & activities

Projects aimed at furthering business innovation within a small Alberta-based for-profit business.
Initiatives designed to support the growth and expansion of a small business.
Community-focused activities that contribute to local development through business operations.

Examples of admissible projects:

$ 30,000

Development of a new AI-based customer service platform to streamline support operations

$ 30,000

Launching a mobile app to connect local farmers with consumers for direct produce sales

$ 30,000

Upgrade of a bakery's commercial kitchen to include energy-efficient appliances

$ 30,000

Implementing a new ERP system for enhanced operational efficiency

$ 30,000

Establishing a coworking space with advanced technological infrastructure for startups

$ 30,000

Expansion of an organic food delivery service to include eco-friendly packaging

Eligibility criteria of the Big Future Innovation Grant program

Eligibility for this grant is determined by specific requirements related to the applicant's profile and business operations.

The business must be based in Alberta.
The business must be currently active, lawful, and have all necessary and required licenses and registrations.
The business must be in good standing with applicable legislation at the time of submission and until the end of the notification period.
The business must have no more than 99 employees on its payroll at the time of submission, including sole proprietors and part-time employees.
The business must have been in continuous operations for at least one year as of October 1, 2024.
The business owner or an investor must not be a previous or current employee of Alberta Central, any of its co-operatives, or joint ventures.
The business must not be affiliated with a credit union as a vendor or supplier.
The business must not be a non-profit.
The primary purpose of the business must not be in competition with Alberta Central or any of its co-operatives.
The business or its owner must not have a criminal record or be listed on any Canadian or United Nations sanction list.
The business or its owner must not be under bankruptcy protection or have judicial liens or attachments.
The business or its owner must not have previously won an Alberta Central Big Future Innovation Grant or another grant/scholarship from Alberta Central.

Who is eligible?

For-profit small businesses based in Alberta

Who is not eligible

Non-profit organizations.
Businesses owned or invested in by current or previous employees of Alberta Central, its co-operatives, or joint ventures.
Businesses affiliated with a credit union as a vendor or supplier.
Companies whose primary activities are in competition with Alberta Central or its co-operatives.
Businesses or business owners with a criminal record, listed on any Canadian or United Nations sanction list, under bankruptcy protection, or with judicial liens or attachments.
Businesses or owners who have previously won a Big Future Innovation Grant or other grants/scholarships offered by Alberta Central or Credit Unions of Alberta.

Eligible expenses

Expenses that directly further business innovation within the company.

Eligible geographic areas

Alberta

Eligibility criteria of the Big Future Innovation Grant program

Business Profile – Overview of the business, including key areas of operation, location, time in business, and qualifications of key team members (up to 10 points).
Marketplace Solution – Description of solutions provided, value to the market, key demographics, and customer needs (up to 10 points).
Goals – Clarity and feasibility of business and/or expansion goals, including steps and time frames to achieve them (up to 10 points).
Community Support – Demonstrated contribution to community development or growth (up to 20 points).
Business Innovation – Examples of innovative solutions implemented to solve business problems (up to 20 points).
Use of Funds – Clear plan for utilizing grant funds to drive innovation, including plans, timelines, KPIs or benchmarks, and tangible impact on the business or community (up to 20 points).
Overall completeness, quality of storytelling, and passion demonstrated in the application, including supplementary materials provided.

How to apply to the Big Future Innovation Grant program

Verify eligibility criteria

Review the eligibility criteria to ensure your business qualifies
Confirm your business is Alberta-based, for-profit, has 99 or fewer employees, and has operated for at least one year as of October 1, 2024
Check for any disqualifying affiliations or conditions

Prepare application documents

Gather required documents (business license or corporation number, government-issued ID, business tax forms)
Prepare business information: name, email, website, and social media handles
Draft your responses to the application questions in a separate document

Submit the application online

Access the online application form when the intake period opens
Complete all required fields in one session, as partial submissions cannot be saved
Upload any supporting visuals or supplementary materials
Submit the completed application before the deadline or before 100 applications are received

Wait for application review

Receive confirmation onscreen that your application has been received
Wait while applications are reviewed by the selection panel
Check your email for any notifications regarding your application status

Participate in finalist process

If shortlisted, prepare a 15-20 minute presentation for the judging panel
Submit any additional documentation requested for validation
Await final notification of acceptance or refusal

Additional information

Only the first 100 applications submitted are considered; once this limit is reached, applications close for the year.
Applicants are required to submit the application in one session; there is no option to save and complete later.
Successful recipients will have funds deposited into a business account at a local credit union.
Confirmation of submission is provided via an onscreen pop-up message after applying online.