Eligible businesses may qualify for innovation vouchers of up to $10,000 or $50,000, which can be used to cover a portion of the cost of services from approved agencies for access to labs, fabrication centres, professional expertise and other services.

Intended for small- to medium-sized companies, this two-year $4-million pilot program offers financial support during the challenging early stages of developing innovative ideas into commercial products through technology.  Although similar programs have launched in the European technology community, this kind of voucher program is new to North America.  It will help entrepreneurs tap into Alberta’s support network of design, development and brain power.  Within the province, there are many technology commercialization and business support agencies that offer a wide variety of expertise and services. 

Horner added, “Many great ideas stall and die at a point between research and commercialization, often referred to as the ‘valley of death.’ Creating an environment where technopreneurs thrive will help take ideas beyond this gap and into the international marketplace.  As part of our Action Plan for Bringing Technology to Market, this pilot program is an important step for moving our next generation economy forward.”

Businesses can apply online at www.technology.gov.ab.ca.  Deadline for applications is February 13, 2009. Vouchers will be awarded to successful applicants in March 2009.

This Innovation Voucher Pilot Program is part of Alberta’s Action Plan, Bringing Technology to Market, announced in June 2008.  Other planned actions include implementing a provincial science and research experimental development tax credit, improving access to early-stage seed and venture capital support, strengthening access to regional business services, introducing technology development advisors, enhancing product development centres, creating a demonstration fund, and initiating a youth technopreneurship project.