Investing in the innovation ecosystem

The Steering Committee has a discretionary fund to support community initiatives proposed by service providers and entrepreneurs in the Edmonton RIN. Organisations can access funding throughout the year for different initiatives.

The grant aims to support the efforts of organisations that contribute to Edmonton’s innovation ecosystem and to create opportunities for different players to meaningfully engage each other.

There are currently two funding streams: events and small scale programs. The former allows for up to $10,000.00 in grant funding, while the latter has a limit of $35,000.00.

 

Community Initiatives Submissions

The Community Initiatives fund covers reasonable costs associated with organising initiatives that benefit Edmonton’s innovation ecosystem.

ERIN uses an evaluation framework that measures initiative impact, level of engagement, applicant competency, among other things, to determine funding level. However, the Community Initiatives Sub-Committee is ultimately making a decision on the percentage funded based on the reasonableness of the budget as it relates to the outcomes (key performance indicators).

The application deadline is on the 15th of each month, and applicants can expect a response from the Sub-Committee within three weeks. However, complex applications or those with a funding request of $5,000 or more may require additional time for processing as these applications will need to be supported by the Steering Committee.

 

Eligibility

Eligibility will be assessed on a case-by-case basis by the Community Initiatives Sub-Committee. However, it is generally understood that all funded initiatives should be hosted in full or in part in the Edmonton Metropolitan Region. Applicants must also be members of the Edmonton Regional Innovation Network.

 

Developing Goals

Goals help to communicate the purpose and the tangible steps that will be taken to achieve the end result envisioned. You have likely heard that goals should be SMART (Specific, Measurable, Achievable, Relevant, and Time-bound), but what does this mean? Goals should not be vague and it should contain enough information to quantify your progress to achieving what you set out to do.

Example of a poorly crafted goal:

To raise awareness of the drone industry.

Example of a well crafted goal:

To host two networking events annually and share funding opportunities available to Alberta’s commercial drone industry.

Specific - Drone networking event to share funding opportunities

Measurable - Two events held annually

Achievable - A limit placed on the number of events and what the initiative will be focusing on

Relevant - The event focuses on one of Alberta’s rising industries and will likely generate interest

Time-bound - The event will come to an end in a year and only two will be held

 

What are Key Performance Indicators?

Key Performance Indicators (KPIs) are performance measures that help to track the success of the planned initiative. KPIs are developed with the initiative’s goal and benchmarks in mind. If we should use the goal from above; an appropriate KPI would be, “100 participants per event”. This gives a quantifiable picture of what success looks like. However, we want applicants to take it a step further by providing, where possible, a breakdown of attendees. For example, “50 post-secondary students”. Another great KPI could be tied to the number of requests received post-event for information such as, “40 emails requesting more information about drone specific funding opportunities” or “40 resource referrals made”.

 

The Edmonton Regional Innovation Network’s Geographic Focus.

 

Disclaimer

The Edmonton RIN is not liable for any risks associated with funded initiatives such as inappropriate or inaccurate content, injury, loss of or damage to personal property, among other things. 

 

Community Initiatives Sub-Committee

The purpose of the Community Initiatives Sub-committee is to support innovation-based community initiatives which foster connection and cooperation within the Edmonton innovation ecosystem.

Chair:

  • Dipo Alli, Black Business Ventures Association

Sub-Committee members:

  • Rajesh Jaiswal, NABI

  • Amanda MacDonald, St. Albert Economic Dev

  • Nicole Delalba, Prairies Canada

  • Randal Adcock, Wayfinders Business Co-operative

  • Mike Riou, Alberta Innovates (Ex-Officio)

  • Manager, ERIN (Ex-Officio)