Alberta Innovates Bio Solutions has launched a new funding program “Alberta Bio Future Product and Technology Commercialization,” which aims to increase the value derived from Alberta’s renewable biomass resource with new products or technologies for the province’s bioindustrial sector.

A minimum of $250,000 and a maximum of $1,000,000 is available for projects that need pilot or scale-up work, or prototype development and will be ready for the market within three years. Alberta-based companies are invited to apply by submitting a Letter of Intent. Deadline is Wednesday, September 2, 2015 at 4 p.m. MT.

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). Alberta Innovates Bio Solutions and Alberta Innovation and Advanced Education co-fund the program, with leadership and management by AI Bio. This program, slated to run until March 2019, aims to stimulate development of new bioproducts and technologies to expand Alberta’s bioindustrial sector and broaden the province’s economic base.