Alberta Innovates — Alberta Digital Traction Program
Highlights
This program is a great opportunity for your business to grow and scale. It offers up to $50,000 in non-dilutive funding, which means you won't have to give up any equity in your company. This funding can be used to increase your customer base, boost revenue, and prepare your business for global expansion.
What You Get:
- Up to $50,000 in non-dilutive funding
- Business coaching to help you navigate challenges
- Support to attain digital traction and attract investment
Why This Program Stands Out:
- Non-dilutive funding means you retain full ownership of your business.
- Continuous intake allows you to apply at any time, making it easier to fit into your schedule.
- Expert guidance from business coaches ensures you have the support needed to succeed.
Applying for this program is straightforward, and being approved can significantly accelerate your business growth.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- This is a non-repayable grant. There are no repayment terms or interest rates associated with this funding.
Eligible Expenses:
- Salaries and wages for employees directly involved in the project.
- Costs related to software development and testing.
- Marketing and sales activities aimed at customer acquisition.
- Fees for professional services such as legal, accounting, and consulting.
- Travel expenses related to business development and customer acquisition.
Ineligible Expenses:
- General operational expenses not directly related to the project.
- Purchase of real estate or vehicles.
- Repayment of existing debts or loans.
- Any expenses incurred before the grant approval date.
Fees:
- There are no application or processing fees associated with this grant.
Qualifications
- Must be an Alberta-based digital tech company.
- Must have software development as core to one or more products and/or services.
- Must intend to rapidly scale digital technology within one-to-two years.
- Must have fewer than 50 full-time employees.
- Must have less than $1,000,000 in annual recurring revenue.
- Must have a minimum viable product to test.
- Must offer a digital technology that provides a significant competitive advantage over existing solutions.
Description
This program offers up to $50,000 in funding for your business. This money is non-dilutive, meaning you don't have to give up any ownership in your company.
You can use the funds for:
- Increasing your customer base
- Boosting your revenue
- Scaling your business to a global market
The program also includes business coaching and support to help you achieve digital traction.
There is no need to pay back the funding, making it a risk-free opportunity to grow your business.
Program Steps
Connect with a Technology Development Advisor:
- Visit the Connect With Us page.
- Provide your business details.
- A business expert will review your information and guide you through the next steps.
Prepare Documentation:
- Business Plan: Outline your business goals, strategies, and financial projections.
- Financial Statements: Include balance sheets, income statements, and cash flow statements.
- Proof of Alberta-Based Operations: Provide documents showing your business operates in Alberta.
- Details of Software Development: Describe how software development is core to your product or service.
- Market Validation Evidence: Show proof of market validation for your product or service.
Access the Application Portal:
- For current clients, log in to SmartSimple, the online application portal.
- New applicants should connect with their Technology Development Advisor for access.
Complete the Application Form:
- Fill out the application form with accurate and detailed information.
- Ensure all required fields are completed and supporting documents are attached.
Submit the Application:
- Review your application for completeness and accuracy.
- Submit the application through the SmartSimple portal or as directed by your Technology Development Advisor.
Follow Up:
- After submission, stay in touch with your Technology Development Advisor.
- Be prepared to provide additional information or clarification if requested.
Await Evaluation:
- Your application will be reviewed by Alberta Innovates staff and external experts.
- The evaluation process will determine the fit with the program’s objectives and intended outcomes.
Approval and Funding:
- If approved, discuss the final terms and conditions.
- Upon agreement, receive the funding to support your business growth and software development efforts.