AVAC may fund your new idea if it meets the criteria of enhancing agrivalue™ in Alberta. There are three investment programs based on commercialization stage of the project/company:
Idea Builder - Pre-seed and seed stage agrivalue™ projects
Funds are most typically used for exploring the commercial applications of promising research discoveries, developing inventions or assessing emerging market opportunities, in order to progress the opportunity to the stage where a pre-commercial investment may be considered.
If, at the conclusion of the Idea Builder, the idea proves to be a good business opportunity, a follow-on proposal is required to further progress the opportunity.
Pre-Commercial - Proof of concept projects that add value to agricultural products
Seed stage projects may include developing a new product or service, enhancing an existing service, conducting third party assessments such as clinical studies or regulatory reviews, intellectual property development or developing professional marketing plans, assessments and feasibility studies. Other proposals may focus on referral services that are required, such as legal, professional and engineering advice.
After completing their proof of concept work, the company should be sufficiently developed that they have validated their value proposition, proven their competitive advantage is sustainable and are ready to enter the market. It is expected that successful commercial ventures reinvest in the AVAC seed capital fund via a royalty return arrangement.
Start-up (Pilot) - Commercial start-up stage
The start-up investment program is intended to support initial production of a qualified value-added agriculture product to support introduction of the product into the commercial marketplace. There are opportunities to finance selected equipment—for example, to enable pilot-scale or proof-of-concept processing and development of prototype products.
It is expected that successful commercial ventures reinvest in the AVAC seed capital fund via a royalty return arrangement.