New funding boost to accelerate commercialization in Alberta

Calgary and Edmonton, AB – The Alberta Heritage Foundation for Medical Research has announced funding to support pre-commercialization and commercialization activities of researchers in Calgary and Edmonton.

To support work in Calgary, it is providing $105,000 funding to University Technologies International to assist researchers there with pre-commercialization activities in the area of medical and health products and services. University Technologies International is the technology transfer, commercialization and incubation centre for the University of Calgary.

In Edmonton, it is providing a similar amount to TEC Edmonton, which is a joint venture of the University of Alberta and the City of Edmonton, through Edmonton Economic Development Corporation.

The funding will be awarded in amounts ranging between $5,000 and $20,000. Successful awards for qualified research-based technologies will be used for activities that include:

– protecting intellectual property (ie, patents);
– exploring market opportunities;
– conducting market assessments;
– completing product marketing initiatives;
– conducting technical feasibility evaluations;
– developing business opportunity strategies;
– offsetting out-of-pocket due diligence expenses (travel, conference and trade show fees, legal fees); and/or
– recovering prototype development/design expenses.