Voucher Program

Overview The Voucher Program provides Alberta tech and innovation companies with up to $100,000 to accelerate new product toward commercialization for novel, promising technologies, and an identified product/market fit. The Voucher Program can help cover the costs of up to three contracted service providers for the purpose of business and technology development related to the following activities: - 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 may be considered on a case-by-case basis.

Grant Deadline

Deadline not available

Funding Amount

$100,000

Type of Grant

Grant

Sectors

Fintech, Artificial Intelligence, Clean Tech, Technology, research and discovery, Med Tech

Demographics

Incorporation

For Profit

Perks

Region Restriction

This grant is restricted to whole of Canada

Keywords

innovation, for-profit, small business, technologies, vouchers provide, develop new products, medium, Technology Development, Commercialize Products, Enterprises

Age Restriction

This grant is age restricted from 18 to 100

Eligibility and Requirements

Eligibility

We designed this program for SMEs to work in collaboration with up to three service providers to advance the technology-based business opportunity closer to commercialization and revenue. Project activities may include

• New product research and development;

• Leading-edge design, engineering and prototype development;

• Advanced product testing and refinement;

• Patent development (not including patent maintenance fees);

• Advanced market assessment or segmentation analysis;

• Advanced business and/or marketing strategies; and/or

• Other technology development activities may be considered on a case-by-case basis

Applicant Eligibility

The Voucher Program is open to For-Profit Organizations.

In addition, to qualify for funding the Applicant must:

• 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 our standard terms; and

• Not otherwise be prohibited from receiving Alberta Innovates funding, for instance due to a past bad debt or otherwise not be in good financial standing with Alberta Innovates or its subsidiaries, InnoTech Alberta and C-FER Technologies.

• incorporated in Alberta AND/OR incorporated for-profit organizations in another jurisdiction and extra-provincially registered in Alberta, OR

• Be a for-profit organization General Partnership, Limited Partnership or Limited Liability Partnership and registered in Alberta.

• To qualify as a small or medium enterprise (SME), a company must have fewer than 500 full-time employees and less than $50,000,000 in annual gross revenue.

• Companies must be Alberta-based with an Alberta footprint, which includes a significant physical and corporate operational presence in Alberta; appropriate Alberta ownership; and discernible intent that operational benefits will flow primarily within the Province of Alberta.

Please note: For Applicants that are not post-secondary institutions, Alberta Innovates may perform corporate, bankruptcy and litigation searches, and conduct other forms of due diligence on the Applicant company and its principals.

Service Provider Eligibility

Service Providers are required to:

• Be a registered corporate entity, or a sole proprietorship, and where applicable be in good standing with the appropriate corporate registries.

• Be authorized to undertake the proposed project.

• Demonstrate that the relationship between the Applicant and Partner/Strategic Partner/Service Provider/Collaborator does not create a conflict of interest.

• Be at arm’s length from the Applicant (i.e., no legal relationship with the Applicant).

• Provide the service(s) and/or product(s) at reasonable market rates.

• Provide a letter indicating the Partner’s/Service Provider’s/Collaborator’s intention to participate in the Project at the time of application.

• Show tangible resources committed to the Project.

Note: For partners, collaborators and/or service providers that are not post-secondary institutions, Alberta Innovates may perform corporate, bankruptcy and litigation searches, and other forms of due diligence.

Project Eligibility

To qualify for funding, all Projects must:

• Align with the objectives of the Voucher Program.

• Be stepped with critical “go/no go “milestones with measurable target outcomes

• Be completed within the one-year term

• Outline the financial contribution required by Applicant; and/or

• Comply with other criteria that Alberta Innovates may develop from time to time.

Grant Application website

https://albertainnovates.ca/funding/voucher-program/

Contact

403-210-5229

intake@albertainnovates.ca