Accelerating Innnovations to Commercialization
The Product Demonstration Program is designed to de-risk the commercialization process by providing funds and coaching to high potential, high growth technology Alberta small to medium-sized enterprises (SMEs) to commercialize their products and achieve an optimal market position to increase revenue and potentially expand into global markets.
Piloting or demonstrating new products with a “strategic partner” who could be the first buyer or influential client(s) is critical in the commercialization and scale-up pathway.
Qualified SMEs may be eligible for up to $150,000 in funding over a maximum one-year term.
The program is a good fit for SMEs that:
- have a product(s) that no longer require refinement to the core technology (product is ready to pilot in an operational setting to verify product value and reduce its uncertainty).
- have a product(s) that are looking to expand sales or broaden market segments (product is ready for demonstration in an operational environment and may need to extend product core technology and/or capability);
- need to identify a potential strategic partner at Expression of Interest, and need a signed Letter of Intent from the strategic partner(s) at full proposal;
- can complete the pilot or demonstration within one year;
- can reasonably expect a first sale or distribution agreement within 18 months if the pilot is successful, and
- can reasonably expect expanded sales or distribution agreements if the demonstration is successful within 18 months.