Saskatchewan Advantage Innovation Fund (SAIF)

The Saskatchewan Advantage Innovation Fund provides structured financial support designed to accelerate the commercialization of technological innovations through targeted investments. Financial arrangements focus on milestone-based funding, equity considerations, and budget contributions.

• SAIF grants provide non-repayable funding up to a maximum of $450,000 for eligible projects.
• Fund contribution is capped at 30% of the total project budget, with the remaining budget covered by industry partners (minimum 50%) and other sources.
• Equity investments cannot be declared as part of the proponent’s financial contributions without disclosure, and IS reserves discretion over their eligibility.
• The program limits total lifetime grant funding to $900,000 when SAIF is combined with the Saskatchewan Technology Startup Incentive (STSI).
• The disbursement of funds is linked to the achievement of predefined project milestones and the submission of requisite progress reports.
• Proponents may apply for additional funding if the new project meets specific criteria and is different from original projects funded under SAIF.

Eligibility for the Saskatchewan Advantage Innovation Fund (SAIF) is determined by specific requirements related to the applicant's profile and the proposed project.

• The project must be proposed by a group of active private sector partners representing the project's value chain, including researchers, those involved in the production or supply process, and customer or end-users.
• An active partner is defined as participating in the project through cash and/or in-kind contribution, equity investment, or a letter of intent to purchase.
• The project must be led by a Saskatchewan-based organization, with preference given to lead proponents with headquarters in Saskatchewan.
• The project group can include non-Saskatchewan organizations, provided the majority have headquarters in Saskatchewan.
• Priority is given to proposals that include an academic partner from a Saskatchewan post-secondary or research institute.
• The technological innovation must solve a specific industry challenge and benefit the sector as a whole, not just individual companies.
• The technological solutions must be novel and innovative.
• Proposals must demonstrate a feasible path to commercialization and how the project's benefits will be sustained over the long-term.
• Industry partners must provide 50% or more of the project's budget.
• The amount requested from Innovation Saskatchewan is no more than 30% of the proposed budget.
• Projects led by non-Saskatchewan organizations with innovative technologies of significant benefit to Saskatchewan will be assessed on a case-by-case basis, and full discretion to declare the lead proponent ineligible is reserved by Innovation Saskatchewan.

Who is eligible?

Saskatchewan-based organizations leading R&D projects proposed by a consortium of active private sector partners, particularly those including academic partners from Saskatchewan post-secondary or research institutions. The application must fall within targeted sectors such as mining, energy, manufacturing and processing, or healthcare. Projects proposed by non-Saskatchewan organizations are eligible if the technologies offer significant benefits to Saskatchewan, evaluated on a case-by-case basis.

Who is not eligible

This grant excludes certain companies and industries due to their status or main activity. The restrictions aim to ensure that funds are directed toward strategic sectors aligned with the grant's objectives.

• Businesses seeking funds for non-R&D related expenditures.
• Companies not part of the core sectors: mining, energy, manufacturing and processing, or healthcare.
• Organizations where the project is not led by a Saskatchewan-based entity, unless significant benefit to Saskatchewan is demonstrated.
• Proponents without the required industry partner contribution (50% or more of the project’s budget).
• Entities seeking funds for feasibility studies as the sole focus of the project.
• Applications exceeding the combined lifetime cap of $900,000 for SAIF and STSI programs.

Eligible expenses

Funding from SAIF can be used for costs critical to the R&D of technology leading up to commercialization.

• Consumables
• Capital expenditures within length of project required for R&D (e.g., equipment purchase)
• Incremental salaries for R&D and technical personnel
• Contracted professional technical services or expertise (e.g., 3rd party software developer)
• Costs related to intellectual property (IP) protection, technology transfer, and commercialization
• Travel and accommodation for collaborative purposes

Eligible geographic areas

This grant requires that the project is led by a Saskatchewan-based organization, with a preference for lead proponents headquartered in Saskatchewan. Furthermore, the project group can include non-Saskatchewan organizations, provided the majority of the group has headquarters in Saskatchewan.

• Lead proponents headquartered in Saskatchewan.
• Majority of the project group with headquarters in Saskatchewan.

The evaluation and selection of projects for the Saskatchewan Advantage Innovation Fund (SAIF) are based on detailed criteria to ensure alignment with the program’s objectives and strategic priorities.

• Project Overview: Clarity and thoroughness in the description of the project, including objectives, activities, partners, and timeline.
• Benefits to Sector: Demonstrated alignment with industry needs and clear indication of the industry challenge being addressed.
• Innovation: Evidence of the innovative and unique nature of the technological solution, avoiding incremental advancements.
• Path to Commercialization: Feasibility and detail of the plan to commercialize the developed technology.
• Financial Leverage: Detailed funding structure with necessary documentations and logical financial planning.
• Academic Research Asset Leverage: Use of Saskatchewan-based research resources to advance the project’s objectives.
• Project Design: Comprehensive design with clear work descriptions, deliverables, and justified budget requests.
• Proponent Capacity: Demonstrated capacity and partner expertise to conduct the project successfully.
• End User Impact/Adoption: Identification of end-user groups and their readiness to adopt the innovation.
• Challenges to Technology Adoption: Identification and planned mitigation of adoption challenges.
• Competitive Analysis: Analysis of market competition and differentiation of the proposed technology.
• Risks: Identification and management plan for potential development and implementation risks.
• Economic Impact: Estimation of economic benefits, such as job creation and increased productivity.
• Environmental Impact: Consideration of the project’s potential environmental impacts.
• Long-term Impact: Plans for the ongoing impact and expansion of the technology to other markets.

Here are additional relevant details for this grant:

• The SAIF operates under strict confidentiality agreements and non-disclosure for all external consulting evaluations.
• If a project's goals or group dynamics change significantly, or if progress is not satisfactorily reported, IS can terminate funding.
• Grant recipients are required to provide detailed progress reports during and after the project period, including a post-project debrief a year after completion.
• Projects can reapply for new SAIF funding provided they are substantially different from previously funded projects, with a cumulative cap of $900,000.