Below is a detailed overview of the Alberta Innovates budget for the fiscal year 2025, specifically covering the period from April 1, 2024, to March 31, 2025, as derived from the provided search results.
Budget Overview for 2025
Alberta Innovates, the province's primary research and innovation agency, has a total budgeted revenue of $252.4 million for the 2024-25 fiscal year, as outlined in its 2024-2027 Business Plan. This represents an increase of approximately $5 million over the 2023-24 budget of $247.2 million. The primary driver of this increase is an additional $5 million in base operating grant funding from the Ministry of Technology and Innovation, specifically allocated to the Scale Up and Growth Accelerator Program4.
Revenue Breakdown and Sources
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Government Funding: The majority of Alberta Innovates' budget comes from the Ministry of Technology and Innovation. This includes the base operating grant, which saw the aforementioned $5 million increase for 2024-254.
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External Revenue and Industry Funding: Generated primarily by its subsidiaries, InnoTech Alberta and C-FER Technologies, this revenue stream is projected to remain stable at $42 million for the year4.
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Other Sources: Minor adjustments in revenue align with the organization’s portfolio and the current economic situation, though specific details on these smaller contributions are not fully elaborated in the provided data4.
Expenditure and Strategic Focus
The budget supports Alberta Innovates' operations and its alignment with provincial priorities, including economic growth, environmental sustainability, and health innovation. Key initiatives funded within this budget include:
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Scale Up and Growth Accelerator Program: Enhanced by the additional $5 million, this program focuses on providing comprehensive business support to growth-oriented companies4.
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Strategic Partnerships and Collaborations: The budget facilitates efforts to leverage external funding and partnerships, with a target of attracting $48.1 million from external sources in 2024-25, as part of strengthening Alberta’s research and innovation ecosystem4.
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Sector-Specific Programs: Funding supports specialized streams such as the Bio Solutions program for agriculture and forestry, the Clean Energy program for low-carbon initiatives, and the AI program for emerging technologies, though specific allocations for each are not detailed in the provided data2.
Context and Future Outlook
While the 2024-25 budget reflects a slight increase, Alberta Innovates faces a significant challenge with a planned $53 million operating funding cut starting in 2026, representing about one-fifth of its roughly $250 million annual budget. This impending reduction has raised concerns about program sustainability and potential job losses, with the organization already experiencing executive departures since January 2025. CEO Mahon has indicated plans to seek alternative funding from federal, industry, and international sources to mitigate these cuts, though specific impacts on 2025 operations are not yet clear as the government is still reviewing the agency’s business plan5.
Additionally, the broader Alberta Budget 2025, titled “Meeting the Challenge,” allocates significant funds to infrastructure and industry diversification but does not specify direct increases or changes to Alberta Innovates’ funding beyond what is outlined in the business plan. It does, however, highlight complementary investments in technology and renewable energy sectors, which align with Alberta Innovates’ focus areas13.
In summary, Alberta Innovates’ budget for the 2024-25 fiscal year stands at $252.4 million, with a focus on scaling innovation programs and fostering strategic partnerships. However, looming funding cuts in 2026 introduce uncertainty for the organization’s future operations and program delivery45.
- https://www.alberta.ca/budget-highlights
- https://hellodarwin.com/business-aid/organizations/alberta-innovates
- https://funding.ryan.com/blog/government-funding/alberta-budget-2025-funding-opportunities/
- https://albertainnovates.ca/wp-content/uploads/2024/05/AI-BUSINESS-PLAN-2024_WEB.pdf
- https://www.cbc.ca/news/canada/edmonton/alberta-innovates-will-have-to-end-amalgamate-some-programs-ceo-says-1.7541566
- https://www.alberta.ca/budget
- https://albertainnovates.ca/news/a-national-wake-up-call-for-innovation-and-growth/
- https://albertainnovates.ca/news/why-inventures-2025-is-the-place-to-be-for-albertas-tech-takeoff/
- https://albertainnovates.ca/wp-content/uploads/2023/09/AI-2022-23-ANNUAL-REPORT.pdf
- https://hellodarwin.com/business-aid/grants-and-funding/innovation/alberta
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