Innovation is a cornerstone of societal growth, driving advancements across all sectors. In Alberta, innovation is being championed by Alberta Innovates through its Ecosystem Development Partnerships (EDP) Program. This initiative aims to fill crucial gaps in Alberta’s entrepreneurial ecosystem, supporting entities engaged in research and innovation. This article outlines how the EDP Program can assist businesses and organizations in Alberta, detailing the funding opportunities and eligibility criteria.
Program Overview
The EDP Program is designed to support the innovation journey from discovery to implementation. Its primary goal is to enhance Alberta’s innovation ecosystem by providing communities, services, and supports for inventors and entrepreneurs. The program focuses on:
- Enabling research and innovation across Alberta.
- Supporting key markets to implement and adopt innovations.
- Accelerating the development and application of emerging technologies.
Type of Funding Available
The EDP Program offers funding for projects up to a three-year term. The funding amount depends on the project’s outcomes and quality. Payments are milestone-based, disbursed upon receipt and approval of reports. In certain cases, Alberta Innovates may provide an initial payment upon the execution of the investment agreement to expedite project commencement.
Eligible Applicants
The EDP Program is open to a variety of entities, including:
- Post-secondary Institutions
- For-Profit Organizations (considered based on service nature; nonprofit preference)
- Government Entities
- Non-Profit/Not-for-Profit Organizations
- Associations/Consortia/Societies
To qualify, applicants must:
- Be a legally incorporated entity with current corporate filings.
- Be authorized to undertake the proposed project and execute a grant agreement with Alberta Innovates.
- Have no outstanding bad debt or financial standing issues with Alberta Innovates or its subsidiaries, InnoTech Alberta and C-FER Technologies.
- Demonstrate a clear value proposition for Alberta, even if not based in the province.
Eligible Projects
Projects must align with the EDP Program’s objectives and meet the following criteria:
- Address the needs of the innovation ecosystem.
- Include critical “go/no go” milestones.
- Be completed within a three-year term.
- Comply with additional criteria as specified by Alberta Innovates.
It is important to note that the EDP Program does not support individual research projects or product development projects at companies or post-secondary institutions. Instead, it focuses on enhancing the applicant’s capacity to help Alberta innovators succeed and foster collaboration within the ecosystem.
Conclusion
The Ecosystem Development Partnerships Program by Alberta Innovates is a vital initiative designed to support the province’s innovation landscape. By offering targeted funding and support, the program aims to bridge gaps in the entrepreneurial ecosystem, driving growth and technological advancement. Entities involved in innovation and research are encouraged to explore the opportunities provided by the EDP Program to enhance their impact and contribute to Alberta’s economic development.
Deadline
All interested applicants are strongly encouraged to register their intent to apply by August 2, 2022, at 12:00 PM MST/ 2:00 PM EST. Contact EVAMAX to get started on your application today!
