Product ScaleUp Pilot Program │ Alberta Innovates

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.