Entrepreneurial Investments: Micro Voucher Program
$10,000.00
Grant
Description:
The Micro Voucher Program helps Alberta tech companies to design and/or develop innovative technology solutions by providing up to $10,000 in non-dilutive funding.
Comments on Funding:
The Program provides support for up to $10,000.
–The applicant must hire a service provider for a maximum six-month project to advance their technology closer to commercialization
–Funding is paid directly to the applicant and disbursed upon receipt and approval of a final report
–Alberta Innovates encourages co-funding of Projects with other funding agencies but employs a stacking limit to ensure there is sufficient financial commitment from the Applicant. The stacking limit is employed as follows: the maximum level of total government assistance, whether from federal, provincial/territorial, or municipal sources, cannot exceed 75% of the eligible Project costs.
Continuous Intake
Eligibility:
Applicants must:
1. Have fewer than 500 full-time employees and less than $50,000,000 in annual gross revenue.
2. Can pay a minimum 25% cash contribution of the total eligible project costs.
3. Have a novel technology with an opportunity for intellectual property.
4. Have digital technology could scale up in one to two years, if successful.
5. Have functional requirements and features defined, and you can prove the concept is technically feasible.
6. Have or are working towards establishing a management team and foundational business agreements.
7. Identify target customer, customer segments and possible markets.
8. Have completed an initial high-level competitive position analysis and understands any regulatory hurdles to entering the market.
9. Complete the proposed project within six months.
10. Be a for-profit Corporation, General Partnership, Limited Partnership or Limited Liability Partnership and registered in Alberta.
11. Be an Alberta-based companies with an Alberta footprint, which includes a significant physical and corporate operations in Alberta; appropriate Alberta ownership; and discernible intent that operational benefits will flow primarily within the Province of Alberta.
Application Steps:
Applicants must:
1. Identify the project need and obtain a quote from a service provider to complete the project.
1. Engage with a Technology Development Advisor (TDA) prior to applying online.
2. Access and submit application form SmartSimple Online Application Portal. Applications outline must provide:
–Current state of the opportunity,
–Applicant’s business readiness
–Participation of a service provider
–Intended project and benefits
–Applicant’s current financial state
3. Execute an Investment Agreement with Alberta Innovates to proceed with the activities of the Project once approved.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
An Applicant whose application is declined by Alberta Innovates my, on a one-time basis, re-apply to Alberta Innovates to address and correct any deficiencies or issues.
About the author
Maurice
