Alberta Innovates — International Technology Partnership Program
Highlights
The International Technology Partnership Program is designed specifically for Alberta-based small to medium enterprises like yours. This program offers up to $250,000 in funding to help you develop your products or conduct pilot tests with an international partner. This is a matching program, meaning your contributions will be matched by both the program and your international partner, potentially bringing the total investment to $750,000.
Why should you apply?
- Significant Funding: Up to $250,000 in matching funds.
- International Collaboration: Work with an international partner to enhance your product's value and advance commercialization.
- Flexible Use: Funds can be used for product development, testing, or pilot projects in an operational environment.
What's in it for you?
- Accelerated Growth: Prove the technical and business merits of your product, making it market-ready faster.
- Increased Market Reach: Gain international exposure and potential new markets through your partnership.
- Expert Support: Access to business experts and Technology Development Advisors to guide you through the process.
Qualifying for this program is straightforward, and the continuous intake process means you can apply at any time. This is a unique opportunity to scale your business with substantial financial support and international collaboration.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- This is a grant, so there are no repayment terms or interest rates. The funds provided do not need to be repaid.
Eligible Expenses:
- Product development costs
- Pilot testing expenses
- Costs associated with working with an international partner
Ineligible Expenses:
- General operational costs not related to the project
- Marketing and sales expenses
- Any expenses not directly tied to product development or pilot testing
Fees:
- There are no fees associated with this grant program.
Qualifications
- Must be Alberta-based.
- Must be a small or medium-sized enterprise (SME).
- Must have fewer than 500 full-time employees.
- Must have less than $50,000,000 in annual gross revenue.
- Must have a project that will bring the technology closer to commercialization through further development, testing, or first pilots of the product in an operational environment.
- Must have the participation of at least one international project partner before applying to the program.
- Must be able to complete the project within 18 months.
- Must reasonably expect to make the first sale within two years after the project is completed.
- Must have contributions that will be matched by the program, and the international project partner is also expected to match the applicant’s contributions, up to a total maximum investment of $750,000.
Description
This program supports your business with up to $250,000. You can use this money to develop your products or conduct pilot tests with an international partner. This is a great chance to prove your product's value and move closer to commercialization.
Your contributions will be matched by the program, and your international partner is also expected to match your contributions. This means you could have a total maximum investment of $750,000 for your project.
The program is designed to help you advance your technology and business. It provides significant financial support, making it easier for you to take your product to the next level. This is a valuable opportunity to grow your business and expand into international markets.
Program Steps
Identify a Project and Partner: Start by identifying a project that will bring your technology closer to commercialization. Secure an international technology partner to collaborate with on the project.
Connect with a Business Expert: Reach out to one of our business experts to review your project details. They will guide you on the next steps and ensure your project aligns with the program's objectives.
Prepare Documentation: Gather the necessary documents for your application. These include:
- Business plan
- Financial statements
- Project proposal
- International Project Partner Letter of Interest
- Any other relevant supporting documents
Access the Application Portal: For current clients, log in to SmartSimple, our online application portal. If you are not a current client, you may need to register or contact your Technology Development Advisor for access.
Complete the Application Form: Fill out the application form on the SmartSimple portal. Ensure all sections are completed accurately and all required documents are uploaded.
Submit the Application: Once your application form is complete and all documents are uploaded, submit your application through the SmartSimple portal.
Follow Up: After submission, stay in touch with your Technology Development Advisor or the business expert you connected with. They will keep you informed about the status of your application and any additional steps required.
Evaluation Process: Your application will be reviewed by Alberta Innovates staff and external expert reviewers. They will evaluate your project based on technology, business opportunity, risks, and potential return on investment.
Approval and Agreement: If your application is approved, you will be contacted to discuss the terms of the investment agreement. Ensure you understand and agree to all terms before signing.
Project Implementation: Once the agreement is signed, you can begin your project. Maintain regular communication with your international partner and Alberta Innovates to ensure the project stays on track.
By following these steps, you can successfully apply for the program and take advantage of the funding opportunity to advance your technology project.