The Innovation Catalyst Grant Alberta

Attention, recent STEM graduates! If you’ve ever dreamt of transforming your ground-breaking idea into a thriving business, the Innovation Catalyst Grant (ICG) Alberta is here to be your springboard. Let’s take a deeper dive.

What’s the Innovation Catalyst Grant All About?

In essence, the ICG is an entrepreneurial scholarship aimed at empowering recent Master’s or PhD graduates from STEM fields. It offers you a golden opportunity to take your science-backed innovations and give them life in the commercial world. What sets this grant apart is its focus on products and services that boast a hardware component.

Perks of the ICG:

With the ICG in your corner, you’ll have a treasure trove of resources at your fingertips, including:

• A generous annual stipend.
• Seed funding to kickstart your venture.
• Access to state-of-the-art labs and office spaces.
• Mentorship from technical maestros in the field.
• Opportunities for business development and networking.

For a comprehensive understanding, do give the ICG Program Guidelines a read.

Eligibility and Proposal Requirements:

Your proposed project should tick the following boxes:

• It’s a unique STEM-driven tech with a hardware facet.
• You either have or are on the path to obtaining legal rights for its commercialization.

Moreover, the lucky applicants, affectionately referred to as ‘Fellows’, will enjoy a whopping amount of up to $250,000 spread over 2 years.

Are you the right fit? You should:

• Have bagged an advanced STEM degree within the past 5 years.
• Be the brain behind a tech-centric business idea with a hardware twist.
• Showcase your legal rights or efforts towards commercializing the idea.
• Be ready to dedicate yourself full-time to the Fellowship.
• Reside in Alberta and have work rights in Canada.
• Commit to setting up and running your venture in Alberta post the program for a minimum of 3 years.

Please note: While being an ICG Fellow, you cannot partake in any educational programs or have financial ties with established firms.

Your Road to Application:

With a deadline looming on September 15, 2023, here’s how to get your application rolling:

1. Expression of Interest: Start by submitting an EOI to indicate your willingness.
2. Proposal Submission: If shortlisted, you’ll be invited to submit a detailed proposal, complete with a budget outline. Fret not, a template will be handed to you.
3. Pitch Session: Get ready to showcase your idea through an interview and business pitch.
4. Evaluation: An esteemed committee will critically assess, rank, and score all submissions.
5. Networking Event: Engage with industry leaders and other candidates.
6. Final Verdict: Participating universities will have the final say on who gets the nod.

The selection is rigorous but fair, overseen by the Ministry of Technology and Innovation, with a special evaluation committee pulling the strings behind the scenes. As for the actual application submission, it’ll be through the STP Grants portal – and you’ll need an Alberta.ca Account for access.

The journey to turning an idea into a successful business is fraught with challenges. But with the Innovation Catalyst Grant Albera in your corner, consider half the battle won. Best of luck, future innovators! ?