Alberta Innovates — R&D Associates Program
Highlights
This program is tailored for businesses like yours in Alberta, especially if you're looking to advance your technology development. You can receive up to $105,000 in non-dilutive funding to hire a dedicated R&D expert for a year. This is a unique chance to boost your team’s skills without giving up any equity in your company.
Participating in this program means you can confidently pursue proof of concepts, prototyping, and feasibility assessments. This support will help reduce the risks of scaling your products while attracting and retaining top talent in your field. The application process is straightforward, making it easy to take advantage of this opportunity. Overall, this funding might be the boost your business needs to innovate and grow.
Financing Details
Type of Financing
This program offers non-dilutive funding, meaning you won't have to give up any ownership in your business. You can receive up to $105,000 to cover the salary costs of an Associate over a one-year period.
Repayment Terms
There are no repayment terms or interest rates associated with these funds, since they are considered a grant. This means you won’t owe any money back, allowing you to focus on growing your business.
Eligible Expenses
Funds can be used for:
- Salary costs for hiring professional research and development talent.
- Expenses related to proof of concepts, prototyping, and feasibility assessments.
Ineligible Expenses
However, these funds cannot be used for:
- General operating costs.
- Any unrelated business expenses that do not support the eligible research and development activities.
Fees
There are no fees to apply or participate in the program. This is truly funding that supports your innovation efforts without added costs.
Qualifications
- Location: Business must be based in Alberta, Canada.
- Eligible Sectors: Open to all sectors.
- Legal Structure: All legal structures are applicable.
- Profit Structure: All profit structures are applicable.
- Employees: No minimum or maximum number of employees required.
- Revenue: No minimum or maximum revenue qualifications.
Description
The program offers up to $105,000 in funding for your business to hire in-house research and development (R&D) expertise. This amount can significantly help cover salary expenses for a dedicated Associate over a one-year period. By bringing someone on board who has the right skills, you can enhance your team’s capabilities and tackle technology challenges more effectively.
This funding is designed to support various R&D activities, including proof of concepts, prototyping, and feasibility assessments. These projects can crucially help you accelerate the development of innovative products while reducing the risks associated with scaling your business.
The best part? This financial assistance is non-dilutive, meaning you won't have to give up any equity in your company. It’s a straightforward way to strengthen your team and make your tech initiatives more successful without the pressure of repayment.
Program Steps
Visit the Program Website
Access the dedicated program website for all specific details and updates.Prepare the Application Documents
Gather the necessary documentation, which typically includes:- A detailed project proposal outlining your R&D activities
- Resume or qualifications of the R&D expert you plan to hire
- Financial statements for your business
- Proof of business registration in Alberta
- Any relevant industry certifications or awards
Complete the Application Form
Fill out the application form available on the program website. Ensure that all sections are completed accurately.Submit Your Application
Submit your completed application along with your documentation through the designated submission platform.Await Confirmation
After submission, wait for a confirmation email acknowledging receipt of your application.Prepare for Follow-Up
Be ready to provide additional information or answer questions if requested by the program administrators.Review Funding Agreement
If approved, carefully review any funding agreements and terms provided to you before proceeding.Plan Your R&D Activities
Once funded, start planning and implementing your R&D initiatives according to your application proposal.
