In Alberta, there are many opportunities for businesses to acquire the capital they need to expand their Research and Development (R&D) budget. Whether your project aims to upgrade your current system or develop something entirely new, applying for grant money is one of the many ways to receive funding.
Similar to the Scientific Research and Experimental Development (SR&ED) tax credit, a grant can provide capital to support innovative initiatives. However, you’ll need to review the fine print for each potential option to find the best fit for your business. Knowing how your company can leverage these and other funding opportunities is the first step toward achieving your goals.
Alberta Environment Equipment Business Grants
If your goal is to minimize your business’s environmental impact, eco-focused Alberta business grants can support you in transitioning to a more sustainable operation. Emissions Reduction Alberta (ERA) offers excellent funding avenues designed to help businesses invest in solutions that reduce emissions and conserve energy. Areas of focus for ERA grant programs include:
- Cleaner oil and gas
- Low-emitting electricity systems
- Food, fiber, and biotechnology
- Low-carbon industrial processes and products
Through robust funding initiatives, the ERA helps small businesses, commercial businesses, and industrial-sized companies invest in several pioneering projects. This organization offers two funding streams that support technological advancements and infrastructure upgrades:
The ERA funds a variety of advancements. From solar panels that sustainably power pipelines to technology that allows craft breweries to reuse CO2 emissions, this organization supports a variety of ventures.
Energy Savings For Business
Energy-saving solutions don’t just help your bottom line — they also foster a healthier, cleaner environment. ERA offers grant opportunities for business owners who wish to improve efficiency.
ERA grants help businesses thrive throughout the province by turning hundreds of eco-conscious proposals into sustainability stories.
Alberta Agriculture Equipment Grants
The Canadian Agricultural Partnership (CAP) offers several programs that encourage business growth and development throughout the agriculture sector. Here are a few prominent options for Alberta agri-businesses owners:
Emerging Opportunities Program
Designed to help strengthen the agriculture sector and create jobs, the Emerging Opportunities Program offers up to $500,000 per fiscal year. Projects must involve specific activities to qualify for funding, and eligible applicants must be one of the following:
- Processors (food processors, bio-industrial processors)
- Industry organizations
Efficient Grain Handling Program
The Efficient Grain Handling Program focuses on projects in the agricultural sector that aim to help mitigate climate change and improve overall energy use. This program is a 50/50 cost-sharing opportunity between the grant and applicant that funds eco-conscious initiatives and helps enhance sustainable production with the applicant.
Farm Technology Program
The Farm Technology Program supports producers in Alberta who want to adopt best management practices in farm technology and security. Grants are cost-shared at 50% with the applicant and can be applied toward several expenses, including:
- Electronic sensors
- GPS equipment trackers
- Livestock ID readers
- Data collection/storage units
- Remote monitors
Through large and small business grants, the Albertan programs under CAP help ensure farmers and other agricultural business owners meet their goals.
Alberta Technology Grant
Alberta technology grants help innovation take the lead. One highly valuable grant that can help those in the technology sector advance their business efforts is the Product Demonstration Program (PDP). Geared toward small- and medium-sized enterprises (SMEs), the PDP is designed to de-risk the commercialization process for businesses with high growth potential. If your goal is to expand into a global market, this grant can help. The PDP applies to SMEs that meet the following qualifications:
- Has a product that’s ready to pilot and demonstrate value
- Has a product that’s ready for demonstration but may need additional technology/capabilities to reach expanded markets
- Needs to identify a potential strategic partner
- Needs a signed letter of intent from a strategic partner at full proposal
- Can complete the pilot within one year
- Expects a first sale or distribution agreement within 18 months
- Expects expanded sales/distribution agreements within 18 months upon proven success
Qualified applicants looking to commercialize their products may receive up to $150,000 in funding over the course of a year. Applicants must seek support from a Technology Development Adviser and complete the application process to get started.
Additional Funding Opportunities
If you have an R&D project that requires capital, it could qualify for the federal SR&ED tax credit. The SR&ED tax incentive applies to businesses of all sizes and sectors developing ground-breaking solutions and processes. Your business could also qualify for Alberta’s Innovation Employment Grant (IEG). Specific to the province, the IEG rewards R&D spending across all industries. Eligibility for these incentive programs depends on several factors but are well worth exploring.
Streamline Business Financing with Easly
No matter where you look for Alberta business grants or tax incentives, the process that leads to an eventual payout can be complex and time-consuming. At Easly, we help businesses bypass the long wait for funds through our Capital-as-a-Service (CaaS) platform. Your company may receive its first quarterly advance just days after approval.
For more information about financing with Easly, get started today.