Action 7
Action 7: Create a demonstration fund
What is the product demonstration fund?
The fund will support technology and product demonstrations by Alberta companies within established organizations. Initially targeted high potential sectors include health care (hospitals, facilities, doctor’s offices, etc), education (schools, universities, colleges) and government institutions (at various levels).
Why is this important?
Some product innovations are complex, expensive to install and impact significant components of a customer organization’s operations. Because of associated risks to their operations, few customers are willing to be the first to implement a new technology. Funding will help defray some of the customer organization’s costs associated with evaluating new technological solutions.
How will the program work?
Companies that have new technology to demonstrate will partner with a strategic customer who has an interest in trying out a new product or service. Together they will apply for funding of the project.
Who will deliver the program?
Alberta Advanced Education and Technology (AET) will deliver the program. AET will also work with relevant partner agencies, advisors, and selection committee members, to identify and support the most promising projects.
How will funds be awarded?
Applications will be reviewed by a selection committee and/or independent reviewers who have the necessary knowledge and experience in the relevant technology and industry sector. Each application will be ranked against specific criteria in order to determine the value the technology and its broad commercial potential.
What do applicants get?
Only the strategic customer can receive funding and only to cover the costs associated with the trial. The participating company has an opportunity to contribute to and benefit from a real-life product trial, also showcasing the solution to other potential customers.
How does someone apply?
Applicants may contact AET to ensure that the basic parameters of their project are suitable for the project. Applicants must submit their proposal with a complete budget, implementation plan, and proof of commitment by all partners.
Who can apply?
Applicants must be Alberta registered companies in Alberta and demonstrate a commitment to continue to operate in Alberta. Strategic customers must be well-established organizations in Alberta and can involve non-profits, government agencies, institutions, or other suitable organizations.
Current as of: Monday, March 09, 2009
Maintained by: Communications branch, AET
