Venture Development Grant

Up to $150,000 to help Alberta-based, high-growth technology ventures generate evidence, reduce uncertainty and take their next step toward customers, commercialization, growth and investment.

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Program Status: Active
Program Status refers to the state of work going on within this particular program. If the Program is 'Active', it is either accepting new applications or research is currently underway. If the Program is 'Inactive', the Program is neither accepting new applications nor is any research being conducted.
Intake Status: Open
Intake Status refers to the state of the Program's call for new applications. If the Intake is displaying 'Open', the Program is accepting new applications. If the Intake is displaying 'Closed', the Program is not accepting new applications.
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Program at a Glance

Program Guide: Venture Development Grant Guide

Eligibility

Alberta-based: Yes
Organization Type: Small to Medium Enterprise
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Overview

The Venture Development Grant helps Alberta-based, high-growth potential technology ventures tackle the most important gaps holding their innovation back from customers, commercialization, growth and investment. 

One grant and one application now cover what used to take several programs. You apply once, at the funding level that fits where your venture is today. 

The grant helps ventures: 

  • Advance innovation readiness by closing one or more critical gaps limiting progress toward commercialization
  • Generate evidence and reduce uncertainty by validating assumptions about the path to market
  • Enable future growth and investment by positioning for customers, revenue, partnerships and investment
  • Deliver meaningful venture advancement by moving to the next stage of development, commercialization or growth 

The grant supports focused work that generates evidence, reduces uncertainty and sets you up to make a well-informed next decision. 

Is this the right fit and time? 

You may be ready to apply if you can: 

  • Explain the problem, your customer or user, your technology-based innovation and the evidence behind it
  • Name a material readiness gap and the focused work that would address it
  • Define meaningful milestones, the evidence you’ll produce, timing and a credible next step
  • Show you have the capacity, cash contribution and documents to proceed 

The grant is not intended for general working capital, routine operations, broad sales or general promotion. 

Open Intakes

Venture Development Grant

Due date: Continuous

More details

Eligibility

  • You have fewer than 250 employees and less than $50 million in annual revenue
  • You are a for profit organization that is incorporated, or a partnership registered in Alberta.
  • You can contribute a minimum of 25 per cent cash contribution of the total eligible project costs.
  • You are working towards commercializing a differentiated technology-based innovation with credible potential to grow.
  • You do not have an active grant under any of the following programs: Micro-Voucher, Voucher, Digital Traction, r&D Associate, Commercialization Industry Associate, and Product Demonstration Program.
  • Meet the minimum Innovation Readiness Levels, with supporting evidence.
  • Be a for-profit Corporation, General Partnership, Limited Partnership or Limited Liability Partnership and registered in Alberta.
  • Companies must be Alberta-based 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. 

You can find a complete list of all the eligibility requirements in the Program Guide.  

Please note: Meeting the eligibility requirements does not guarantee funding. 

Eligible Project Expenses 

Appendix B in the Program Guide outlines eligible expenses for projects in Venture Development Grant.

Click Here to view Appendix B in Program Guide.

How To Apply

Start by reading the Venture Development Grant Guide to confirm eligibility and fit. Then apply through the SmartSimple application portal.

  1. Profile and innovation: Share your company information and describe the problem, customer, innovation, differentiation and opportunity.
  2. Readiness: Select the highest level completed for each readiness dimension and explain your evidence. 
  3. Funding request: Describe the activities, readiness gap, intended outcomes, funding level, budget and your contribution. 
  4. Documents: Upload the required financial, ownership, planning and supporting documents. 
  5. Submit: Confirm your application is complete and accurate. We may follow up for clarification or due-diligence information.

Required documents

Document Explore Bridge and Grow
Capitalization table with ownership and geographic information  Required  Required 
Balance sheet, income statement and cash flow statement for the last three fiscal years (or years available)  Required  Required 
Current-year interim balance sheet, income statement and cash flow statement  Required  Required 
Pro forma forecast with assumptions  12 months 36 months 
Business documentation  Lean Canvas (minimum) Business plan


You can also attach optional evidence supporting your readiness self-assessment. Incomplete applications won’t move forward in the review.

What happens after you apply 

Submit → Eligibility and completeness review → Assessment → Decision and notification → If approved, milestone planning and Investment Agreement 

The Venture Development Grant is a competitive process. Eligible applications are assessed on three questions: 

  • Is there opportunity? Alignment with Alberta Innovates’ strategic priorities, benefit to Alberta, the customer problem and solution, commercial opportunity, novelty and evidence
  • Is there readiness and a clear path forward? Appropriate readiness levels, focused priorities, and logical milestones, outcomes and evidence
  • Can the applicant deliver? Company and team capacity, timing, risks, budget, contribution and expected impact 

If your venture is a strategic fit, you’ll be connected with a Technology Development Advisor. If funding is approved, a Grant Advisor will work with you on deliverables, timelines, budget and the milestone and reporting schedule in your Investment Agreement. 

Evaluation Process

All applications received are reviewed in batches and evaluated to determine fit with the strategic goals of Alberta Innovates and the Venture Development Grant objectives and intended outcomes. Alberta Innovates’ staff are engaged to evaluate applications.

For more information, consult the Program Guide.

Supports

If you don’t feel ready to apply for a Venture Development Grant at this time, consider contacting a Regional Innovation Network. With support from Alberta Innovates, Regional Innovation Networks (RINs) are a network of community-based innovation organizations that provide services and supports to early-stage technology and knowledge-based innovators and entrepreneurs.

If your venture is determined to be a strategic fit for Alberta Innovates through the Venture Development application process, you will be connected with a Technology Development Advisor (TDA).

Support Resources

SmartSimple Online Application Portal

Innovation Readiness Levels overview

Questions about the Venture Development Grant?

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Open and Upcoming Intakes

Venture Development Grant

Up to $150,000 for Alberta-based, high-growth technology ventures to close the gaps between their innovation and commercialization.

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