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Product ScaleUp Pilot Program │ Alberta Innovates

Value

Up to $100,000 for one year

Description

Alberta Innovates created the Product ScaleUp Pilot Program to propel Alberta SMEs forward as they refine and iterate their highly scalable digital technologies.

The program is a grant of up to $100,000 for one year for qualified SMEs to hire a product associate with expertise in developing, commercializing, and scaling digital technology using a product management model.

Eligible Applicants

To qualify as an Applicant, an SME is required to satisfy the following criteria:

  • be a for-profit SME;
  • demonstrate the relationship between the Applicant and the Associate does not create a conflict of interest;
  • be an Alberta-based company with an Albertan footprint, which is determined by the following: significant physical and corporate operational presence in Alberta, appropriate Alberta ownership, and discernable intent that operational benefits will flow primarily within the province of Alberta;
  • meet the following definition of an SME: a company with fewer than 500 Full Time employees, and less than $50,000,000 annual gross revenue;
  • be a legal entity with up to date corporate filings*
    • incorporated in Alberta; or
    • incorporated federally or in another jurisdiction AND extra-provincially registered in Alberta; or
    • a General Partnership, Limited Partnership or Limited Liability Partnership AND registered in Alberta;
  • have the financial capability to fund the required Applicant Contribution;
  • be in good financial standing with Alberta Innovates and its subsidiaries InnoTech Alberta and C-Fer Technologies; and
  • not currently have more than two (2) active Alberta Innovates-funded Associates

To qualify as an Associate, the individual must meet the following criteria:

  • not currently own, has no right, option or entitlement to purchase more than 15% of the issued and outstanding shares of the Applicant;
  • not have been an Associate for the Applicant other than in the case of a re-application;
  • not have been employed by the Applicant for more than twelve (12) months prior to the submission date of the Application;
  • be in good financial standing with Alberta Innovates and its subsidiaries InnoTech Alberta and C-Fer Technologies; and
  • intend to live in the Province of Alberta at least for the duration of the Investment in the Project, unless the Applicant can provide evidence that having the Associate outside of the province will support the Project.

Eligible Expenses

This program uses a peer-to-peer network approach, connecting cohort members via a dedicated community portal. Successful applicants will receive ongoing virtual product management training for the leadership team and associate each month for six months that may include topics such as:

  1. Strategic Product Executive and Value within a ScaleUp organization
  2. Vision, Product Strategy, Expansion Strategies and alignment with Company Strategy
  3. ScaleUp Team Planning and Mapping, and How to Become a Scaleup Executive Influencer
  4. Financial Bootcamp for Scaleup Strategic Product Executives and Scaleup CEOs
  5. Data-driven Practices for Product Executives
  6. Your Seat at the Board Table and Communicating With Different Stakeholders

Deadline Date

  The Product ScaleUp Pilot Program will be accepting applications from September 14, 2021 to October 7, 2021.

Contact

Contact Name: Ayo Aiyeleye (Director, Scaleup and Growth - Entrepreneurial Investments)

Phone Number: 780-450-5305

E-mail Address: Ayodele.Aiyeleye@albertainnovates.ca

Website: https://albertainnovates.ca/programs/product-scaleup-pilot-program/

Industry: Software/Technology, Location: Alberta ,
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