Funding and Financing
To encourage and assist in the development of applied research projects, SAIT Polytechnic offers its own funding programs and connects young entrepreneurs to additional financing available through its community partnerships.
Funding through SAIT The Applied Research and Innovation Services department administer two internal funds for the SAIT community and their industry partners.
Applied Research Fund This fund is available to the SAIT community for industry-relevant applied research projects that enhance the experience of students at SAIT. The project must have some of its funding come from an outside source. Applications (*.pdf form: opens new browser window) are accepted throughout the year and evaluated by a Peer Review Panel. Applicants may be asked to make a presentation, modify the proposal or consider a different level of funding. A decision is to be provided no more than 45 days from receipt of a properly completed application.
Innovative Student Projects Fund (ISPF) Description Developed to give SAIT students the ability to acquire resources required for their innovative projects, the ISPF is supported by the Alberta Association of Colleges and Technical Institutes (AACTI) and the '88 Legacy Fund along with SAIT Polytechnic. Each academic year, students are invited to submit an application for funding with a deadline in line with coursework demands, typically at the end of November. A Peer Review Panel evaluates the applications based on criteria outlined in the application form and notifies all applicants of its decision within 30 days of the application deadline. If funds remain, a second call for applications is made. Since its inception in the 2007-08 academic year, the ISPF has approved over $215,000 to fund student projects. Forms and additional information are also available to SAIT students on mySAIT.ca, under the Academic Resources tab - Supplies - Student Projects.
LAUNCH Business Plan Competition  | In November 2009, SAIT kicked off its new LAUNCH program for young entrepreneurs, designed to help participants start their careers as entrepreneurs and get their big ideas off the ground. | LAUNCH is a business plan competition that is open to current SAIT students and first-year alumni with an innovative idea for a new business. Every participant has the opportunity to learn what it takes to develop a sound business plan and make connections to valuable industry mentors. The three most promising business ventures are awarded prize packages with a combined value of almost $70,000 at a June awards ceremony. Get all the details by clicking on the logo above!
Other financing opportunities | SPIN MASTER Innovation Fund | This new competition will provide up to 10 innovative young Canadian entrepreneurs with up to $50,000 in start-up financing, mentorship and other support to transform their business plans into viable businesses. Applications due by June 9, 2011! | Basic Eligibility Criteria:
Applicants must be aged 18-34 with a sound business plan and the ability to articulate the opportunities the business will create (new jobs, international expansion, etc.). Must clearly demonstrate how the venture is innovative and be able to define the vision of what the company will become. To apply, a business plan must be compiled, using an outline available on the CYBF website, and submitted along with a copy of the applicant's drivers license, resume and two references. Then, an application form can be completed. After June 9th, a selection panel will choose up to 18 finalists to pitch their idea in person or via videoconferencing on August 17/18 and the winners will be announced September 23, 2011.
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