Alberta Innovates Extends $350,000 to Benefit Alberta-based Businesses

NEWS RELEASE

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(Edmonton, Alberta) December 21, 2020 - Earlier this fall, Alberta Innovates launched the Innovation Relief and Recovery Program with $400,000 of in-depth supports for companies provided by the Government of Canada, through Western Economic Diversification Canada (WD).

The program has received a tremendous response with outstanding proposals from the applicants. Consequently, we heard from entrepreneurs there is a need for more of this kind of support.

Alberta Innovates is providing the program with an additional $350,000 and increasing its in-depth support for Alberta's small to medium-size businesses (SMEs) affected by disruptions related to the COVID-19 pandemic.

Today's top-up from Alberta Innovates adds funding for an additional 38 eligible SMEs to further support more businesses in their recovery through the pandemic period.

"Alberta Innovates identified a further need to support more projects to help Alberta businesses adapt to new realities, and to keep people working. Continuing to grow our economy through strong innovation-based businesses is a high priority for us."

Laura Kilcrease, CEO, Alberta Innovates

The Innovation Relief and Recovery program offers high potential technology-based businesses with access to technical and business supports that are not covered through other relief programs. Project activities may include product testing and refinement, manufacturing capacity improvement, customer discovery work as well as professional services such as human resources, legal and financial required to support relief and recovery.

Support for each project ranges from $5000 up to $10,000.

A total of $1.3 million was provided to Alberta Innovates this fall as part of the Government of Canada's Regional Relief and Recovery Fund (RRRF) through Western Economic Diversification Canada.

Read the October 27, 2020 news release, launching this new partnership:  Supporting technology-based business recovery.

Alberta Innovates invests in research, innovation and entrepreneurship to drive provincial economic growth and diversity. We provide technical expertise, entrepreneurial advice and support, opportunities for partnerships and funding to advance the best ideas. We support a broad range of research and innovation activity - from discovery to use. Collaboration is at the heart of what we do, bringing together bright minds and great ideas.

Find out how Alberta Innovates: albertainnovates.ca