Regional Artificial Intelligence Initiative (RAII) in the Prairie Provinces - 5. How projects are assessed

How we assess your proposal

All applications will be evaluated on their ability to achieve RAII objectives, their economic impact, the viability of the project, and their relative strengths in the following areas:

• market potential
• management capability
• financial capacity
• economic benefits
• technology readiness (technology commercialization projects only)
• degree of alignment with departmental/regional priorities

If undergoing a detailed assessment, PrairiesCan will request:

• business plan (if not already submitted)
• forecasted income statements and cash flow including relevant assumptions for the duration of the project (3 to 5 years)
• detailed breakdown of project costs
• disclosure of pre-existing disbursements to third parties or senior executives
• other detailed information on the project or your organization.

Note that PrairiesCan will also conduct a credit check (e.g. Equifax) for repayable projects. Where required, PrairiesCan will engage the technical services of the National Research Council’s Industrial Research Assistance Program (IRAP) to conduct the technical assessment of proposals for projects using novel technology.

Applicants are advised to submit a complete and thorough application. Not all applications undergoing a detailed assessment will receive an offer of funding.

Expected outcomes

Applicants must quantify, substantiate and later report on the following expected results:

• number of highly qualified personnel (HQP) jobs created in Canada
• number of non-HQP jobs created in Canada
• revenue growth ($)
• export sales growth ($)
• incremental private sector investment attracted ($)
• number of technologies to market, where applicable
• business sales growth resulting from commercialization or adoption ($), where applicable
• number of small and medium-sized enterprises (SMEs) assisted
• value of business expenditures in research and development ($), where applicable

PrairiesCan is working to improve the economic participation (e.g. job creation) of underrepresented groups such as Indigenous peoples, women, and youth.

Elements of a strong proposal for repayable projects

Strong proposals will have a complete and sufficiently detailed application which will allow PrairiesCan to thoroughly review and validate the information and can include the following:

• Comprehensive and well-written business plan
• Independent market assessment and/or evidence of unmet market demand
• Clearly defined market size and opportunity
• Direct competitors identified and assessed
• Detailed description of both the applicant organization and project management team
• Credible financial statements accompanied by logical and reasonable financial projections
• Demonstrated financial capacity to execute the project and the ability to repay
• Clear alignment with at least 1 priority area
• Significant expected outcomes supported by reasonable assumptions and rationale
• Demonstrated understanding of the current and anticipated AI regulations in Canada (e.g., Bill C-27 to enact the Consumer Privacy Protection Act, the Personal Information and Data Protection Tribunal Act and the Artificial Intelligence and Data Act) and other countries (e.g., the EU Artificial Intelligence Act, the U.S. Voluntary AI Risk Management Framework), and potential requirements to ensure the security of data and the responsible use of AI.
• Well-defined IP strategy (if applicable)
• Clear explanation as to how the productivity or efficiency savings will enable the company/organization to grow and expand (if applicable)

Elements of a strong proposal for non-repayable projects

Strong proposals will have a complete and sufficiently detailed application which will allow PrairiesCan to thoroughly review and validate the information and can include the following:

• clear alignment to RAII objectives
• strong market/industry demand (such as the project addresses a significant gap in the market or there is a demonstrated industry demand for the project)
• measurable economic benefits for the prairie provinces
• effective governance measures and management team in place to carry out the project
• strong, evidence-based rationale for the project
• financial statements that demonstrate the organization is financially self-sustaining
• leveraged funding from provincial governments, the private sector, and other non-government sources (typically 50% or more)
• demonstrated understanding of the current and anticipated AI regulations in Canada (e.g., Bill C-27 to enact the Consumer Privacy Protection Act, the Personal Information and Data Protection Tribunal Act and the Artificial Intelligence and Data Act) and other countries (e.g., the EU Artificial Intelligence Act, the U.S. Voluntary AI Risk Management Framework), and potential requirements to ensure the security of data and the responsible use of AI.
• non-PrairiesCan funding is confirmed with written proof.*

*Written proof, confirmed or conditional upon PrairiesCan’s funding, will be considered acceptable confirmation of non-PrairiesCan funding. Examples of written proof include current bank statements detailing existing cash balances or the unused portion of lines of credit. If third parties are included in project funding, letters of intent or funding agreements from third parties, may be acceptable.