Entrepreneurial Investments: Industry Commercialization Associate Program

Who can apply

You can contribute a minimum of 25 per cent cash contribution of the total annual base salary of the Associate.

Alberta’s high potential, high growth, technology and knowledge-based small and medium sized enterprises (SMEs) may be eligible for funding to enable them to employ a highly trained resource with the goal of advancing business readiness levels and/or accelerating product commercialization.

Applicant Eligibility

The Industry Commercialization Associate Program is open to for-profit organizations or SMEs.

In addition, to qualify for funding, the Applicant must:

1. Not have more than two (2) active Alberta Innovates-funded associates simultaneously.
2. Exist as a corporate person, with up-to-date corporate filings.
3. Be authorized to undertake the proposed project, and execute a grant with Alberta Innovates on our

standard terms; and

1. 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.

1. Be incorporated in Alberta AND/OR incorporated in another jurisdiction and extra-provincially

registered in Alberta, OR

1. Be a General Partnership, Limited Partnership or Limited Liability Partnership and registered in

Alberta.

1. 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.

1. 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.

1. Clear our due diligence and risk screening as determined by Alberta Innovates in its sole and

unfettered discretion.

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.

Associate Eligibility

The Industry Associate has the advanced technical skills required by the SME to make that last leap from research to commercializing a marketable product. The Associate must:

1. Be authorized to undertake the proposed project.
2. Demonstrate the relationship between the Applicant and Associate does not create a conflict of

interest.

1. Be at arm’s length from the Applicant (i.e., no legal relationship to the Applicant).
2. Not currently own, have no right, option, or entitlement to purchase more than 15% of the

issued and outstanding shares of the Applicant.

1. Not have been an Associate for the Applicant other than in the case of a re-application.
2. Not have been employed by the Applicant for more than twelve (12) months prior to the

submission date of the application.

1. Provide a letter indicating the Associate’s intention to participate in the Project at the time of

the application.

1. Intend to live in the Province of Alberta at least for the duration of the Investment in the

Project, unless the Applicant can provide evidence that having the Associate outside of the province will support the Project.

1. 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.

Project Eligibility

To qualify for funding, all Projects must:

1. Align with the objectives of the Industry Commercialization Associate Program;
2. Be stepped with critical “go/no go” milestones;
3. Be completed within the 1-year term;
4. TRL level between 5-9
5. Outline the financial contribution required by Applicant; and/or
6. Comply with other criteria that Alberta Innovates may develop from time to time.

All companies must be incorporated in Alberta AND/OR incorporated in another jurisdiction and extra provincially registered in Alberta, OR be a General Partnership, Limited Partnership or Limited Liability Partnership and registered in Alberta.

Next, if you meet the following Alberta Footprint criteria you are an Alberta company that can apply to our program.

1. Over 50% total Alberta ownership
2. And over 50% Alberta employees (FTE, PTE, and Contractors)
3. And an Alberta Founder residing in Alberta as primary residence, where income tax is paid

If you do not meet the criteria above you may still be eligible and the following evaluation criteria will be used to assess your Alberta Footprint:

Alberta Footprint Evaluation Criteria for Entrepreneurial Investment Programs Location of main operations (operations, salaries, taxes, expenses, license, permits, assets, and capital flow) and head office.

Portion of physical assets based in Alberta if applicable to your business model.

Number of Alberta-based T4 employees currently employed by the applicant and percentage of total jobs in the company based in Alberta.

Taxable revenues, current and future, flowing back to Alberta.

Percent of Alberta Ownership as demonstrated on Capitalization tables and registration documents.

Due to unclear ownership and liquidity of shares, publicly traded companies are only eligible if significant Alberta ownership and control can be demonstrated. The Alberta ownership does not include Alberta investment firms that have investors from outside Alberta.

Number of Founders based in Alberta Connections to Alberta eco-system, industry, strategic partners, and resources to grow business in Alberta. Current and future growth in Alberta to promote jobs, economic growth, and benefit to Albertans.

Publicly identified as, and corporate messaging consistent with, being an Alberta company Collaborative support from other provinces on a large strategic win for Canada These criteria are considered together to determine if there is sufficient Alberta benefit.