Many consider the concept of innovation to be an integral part of each system, which helps them to flourish and grow. Businesses, economies, and nations are all deeply impacted by innovation as a whole and depending on how successfully it accelerates, it helps to fill a gap identified in the Alberta entrepreneur ecosystem. The Alberta Digital Traction Program is managed through the Entrepreneurial Investments business unit within Alberta Innovates and helps to recognize SMEs as a crucial component to diversifying and building the Alberta economy.
The objectives of the Program are to accelerate commercialization, advance business metrics towards product/market fit, and grow traction along with customer discovery acumen. The Alberta Digital Traction Program will overall increase the adoption and commercialization of digital technologies and products and as a result improve Digital SME survival rates, revenues, and exports.
Type of Funding Available
Alberta Digital Traction is a funding program of up to $50,000 for small-and medium-sized Alberta enterprises (SMEs) that have software development at the core of one or more of their products and/or services. Funding is paid directly to the applicant and disbursed upon receipt and approval of three consecutive milestone-based reports.
Funding disbursement is as follows:
- Milestone 1: Alberta Innovates contribution up to a maximum of $15,000 (including payment upon execution of agreement, up to $10,000)
- Milestone 2: Alberta Innovates contribution up to $20,000
- Milestone 3: Alberta Innovates contribution up to $20,000
Funding is for a maximum one-year project term and the applicant is required to contribute a minimum of 25 percent for each milestone.
Digital Traction is open to for-profit organizations but for these organizations to qualify for funding they must meet the criteria below:
- Have a founding team and/or advisors
- Demonstrate previous investment into the company by the founding team
- Have fewer than 50 full-time employees, and less than $1,000,000 annual reoccurring revenue
- Be incorporated in Alberta and/or incorporated in another jurisdiction and extra-provincially registered in Alberta
- Be a General Partnership, Limited Partnership, or Limited Liability Partnership and registered in Alberta.
All Applicants must also:
- Exist as a corporate person, with up-to-date corporate filings
- Be authorized to undertake the proposed project, and execute a grant with Alberta Innovates on set standard terms
- Not otherwise be prohibited from receiving Alberta Innovates funding
- Be an Alberta-based company with an Albertan footprint
To qualify for funding, all projects must:
- Align with the objectives of the Digital Traction Program
- Have a project start date at least forty-five (45) days from the application submission date
- Have the first milestone activities identified to a maximum of $15,000
- Have no more than three defined milestones based on business and technical outcomes to be reached during the project term
- Be completed within a one-year term
- Comply with other criteria that Alberta Innovates may develop from time to time
This is a continuous intake program that is accepting applications at any time.