Big Future Innovation Grant AB Canada

Big Future Innovation Grant

AB, Canada
The Alberta Central Big Future Innovation Grant empowers Alberta’s small businesses to thrive with essential funding and support.
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  • grant_single|maxCount
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  • grant_single|timelineUnspecified
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Grant and Funding
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  • Credit Unions of Alberta
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grant_card_status|open

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The Alberta Central Big Future Innovation Grant is designed to support Alberta-based for-profit small businesses that demonstrate innovation and growth potential. Eligible activities must be lawful and include businesses with up to 99 employees, which are in continuous operation for at least one year as of October 1, 2024. Recipients must hold a credit union business account to receive the grant funds.

grant_single_labels|projects

The grant is available only to businesses based in Alberta, Canada. It specifically targets companies that are legal and active within the province.
  • Alberta, Canada.
grant_single|admissibleProjectsExample

$30,000

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

$30,000

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

$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

grant_single_labels|admissibility

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.

grant_eligibility_criteria|who_can_apply

To apply for the Alberta Central Big Future Innovation Grant, your business must:- Be a for-profit small business based in Alberta.- Engage in legal and active operations with all necessary licenses.- Be in good standing with legislative requirements.- Have 99 or fewer employees, including sole proprietors and part-timers.- Operate continuously for at least one year by October 1, 2024.Additionally, both the business and the owner must not have any affiliations with Alberta Central or conflicts such as being a vendor or supplier, having a criminal record, or being under bankruptcy protection. Prior winners of certain Alberta Central grants are also ineligible.

grant_eligibility_criteria|who_cannot_apply

Several types of businesses are ineligible for this grant due to their affiliations, activities, or legal status. These restrictions are intended to direct resources to small businesses that are independent and ethically compliant.
  • Businesses affiliated with a credit union as a vendor or supplier.
  • Non-profit organizations.
  • Businesses competing against Alberta Central or its cooperatives.
  • Businesses with owners or investors who are current or former employees of Alberta Central or associated entities.
  • Companies or owners with a criminal record or listed on Canadian or United Nations sanction lists.
  • Businesses or owners under bankruptcy protection or with judicial liens or attachments.
  • Businesses or owners that have previously received a grant from Alberta Central.

grant_eligibility_criteria|zone

The eligible geographic zone for this grant is Alberta. The business must be based in Alberta to qualify.
  • Based in Alberta

grant_single_labels|criteria

The evaluation and selection criteria for the Alberta Central Big Future Innovation Grant include multiple factors to ensure the eligibility and potential impact of applicant businesses. The criteria are specific and go beyond simple eligibility to assess the overall contribution and viability of the business.
  • Business's innovative approach or unique value proposition.
  • Overall business model and strategy.
  • Potential for business growth and scalability.
  • Impact on the local community and economy.
  • Soundness of the financial plan and budget.
  • Sustainability and long-term vision of the business.
  • Alignment with the core values and objectives of Alberta Central.
  • Degree of business's current success and market traction.

grant_single_labels|register

Here are the steps to submit an application for this grant:
  • Step 1: Verify Eligibility
    • Ensure your business meets all the eligibility criteria defined in the rules and regulations.
    • Collect proof of business existence such as a corporation number or business license.
  • Step 2: Prepare Your Application
    • Gather necessary business and personal details, including legal Alberta residency documentation and your age proof.
    • Prepare documentation demonstrating that your business is based in Alberta, lawful, active, and has the required licenses and registrations.
    • Ensure your business is in good standing with applicable legislation and has been operating continuously for at least one year as of October 1, 2024.
    • Prepare proof of the number of employees, ensuring it does not exceed 99, considering both full-time and part-time employees.
    • Ensure you are neither affiliated with Alberta Central, nor ineligible due to past criminal records, sanctions, or financial issues.
  • Step 3: Submit Application
    • Use the official application channel to fill out and submit your application.
    • Attach all required documentation such as business licenses and proof of residency.
    • Submit your application by the provided deadline, after ensuring all information is accurate and complete.
  • Step 4: Confirmation
    • Await confirmation of submission and receipt of your application.
    • Retain any confirmation details for your records.

grant_single_labels|otherInfo

There are a few important additional details to note regarding the eligibility and conditions of the Alberta Central Big Future Innovation Grant.
  • Applications are restricted to only one per business.
  • Winners will need a valid government-issued ID and a credit union business account to receive the grant money, which will be deposited into the credit union business account.

Apply to this program