As the technology landscape constantly evolves, new and upcoming innovations in sectors such as cleantech, manufacturing, artificial intelligence, and agriculture are increasing at a rapid place. In order to remain globally competitive, Canada is continuing to invest in businesses to help advance their technologies and get them to market. To support this initiative, 16 companies in Alberta have recently been awarded government funding to help accelerate the pre-commercialization process.
16 Alberta businesses are the recipients of a combined $20,821,304 from the Western Innovation (WINN) Initiative.
The Western Innovation (WINN) Initiative is a government funding program dedicated for innovative SMEs in Western Canada. WINN funding is designed to help companies move their technologies from the later stages of research and development to the marketplace. Innovation funding from the program will help the 16 Alberta companies propel and advance their products, as well as create over 550 jobs.
WINN Awards $21M in Funding for Product Development
Western Canada accounts for 38% of Canada’s economy and attracts about half of the venture capital of Ontario and Quebec. To help the West compete globally, 16 businesses in Alberta are receiving research and development funding support from the Western Innovation (WINN) Initiative. The funding will help these Canadian entrepreneurs progress their products and bring advanced innovation to market. Their respective projects will also create 570 high-paying jobs.
Six of the companies awarded include:
Nanalysis Corp. ($2,773,000): Innovation funding is allowing Nanalysis to advance new compact Nuclear Magnetic Resonance (NMR) products and expand its technology platform for global markets.
QuirkLogic Inc. ($1,500,000): Funding for product development is supporting QuirkLogic Inc. in commercializing an innovative digital writing solution.
Veerum Inc. ($1,500,000): Veerum Inc. is using WINN funding to commercialize an online platform that optimizes capital project delivery.
ATTAbotics ($1,300,000): Innovation funding is helping ATTAbotics commercialize a robotic warehousing and fulfilment system.
Carbon Credit Solutions Inc. ($1,107,441): WINN funding will help to the company develop a next-generation software platform to report, measure, and verify GHGs.
Aimsio Inc. ($400,276): Aimsio Inc. is commercializing a software module that helps companies visualize their field operations’ resource planning.
About the Western Innovation (WINN) Initiative
The Western Innovation (WINN) Initiative is a research and development funding program for SME businesses located in Western Canada, specifically Alberta, British Columbia, Manitoba, and Saskatchewan. Companies can receive repayable funding to accelerate technology-based product development, while also reducing the amount of time it takes to reach market readiness.
Projects eligible for WINN funding includes:
- Product certifications;
- Validation of market potential and end-user acceptance;
- Technology development and acceleration;
- Pilot projects and technology demonstration projects; and
- Marketing, productivity, human resources development, and process or quality improvement directly related to innovation commercialization.
The Western Innovation Initiative provides up to 50% of eligible project costs to a maximum $3.5 million in repayable funding per project.
The Western Innovation (WINN) Initiative application period is now closed. The next round of application has not yet been announced.
Businesses in Western Canada interested in learning more about government funding programs to support research and development initiatives, please register for Mentor Works E-Newsletter.