A new funding program from Alberta Innovates Bio Solutions aims to increase the value derived from Alberta’s abundant, renewable biomass resource with new products or technologies for the province’s bioindustrial sector.
Bioindustrial products derived from agricultural or forest biomass are currently used in several sectors, ranging from areas such as personal care products, chemicals, the energy industry, construction and manufacturing. “The market demand is evident,” said Steve Price, CEO of Alberta Innovates Bio Solutions, “but taking a new bioproduct from the lab bench to commercial production is risky and expensive for many companies. With our new Alberta Bio Future Product and Technology Commercialization program we aim to help companies bridge this gap with funding, advice, and connections.”
From $250,000 to $1 million is available for projects that need pilot or scale-up work, or prototype development, and that will be ready for the market within three years. Alberta-based companies are invited to apply by submitting a letter of intent. The deadline is Sept. 2, 2015.
The industry-focused Alberta Bio Future program comprises three grant funding streams: Equipment Utilization (continuous intake of applications), Product and Technology Commercialization (one intake on September 2, 2015) and Research and Innovation (launching in summer 2015).