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Invitation to Tender

Project Overview and Objectives:

Alberta Enterprise Corporation (AEC), a crown corporation of the Government of Alberta, manages the Alberta Enterprise Fund. AEC promotes the development of Alberta’s venture capital industry by investing in venture capital funds that finance technology companies. In addition to capital, we support Alberta’s venture capital ecosystem by connecting investors, entrepreneurs, and experienced technology executives who share our passion for building a bright, innovative Alberta. Since our inception we have committed C$256 million for investment to twenty-four VC funds.

To date AEC’s accounting and finance functions have been managed by the Ministry of Jobs, Economy and Innovation (JEI) through a Shared Services Agreement, however AEC is transitioning this function in house. This project includes developing the transition and implementation plan, including needs assessment. Assisting with the implementation is not included in the scope at this point in time. AEC may choose to tender assistance with the implementation plan as a separate project.

The objective is to create a clear and concise transition and implementation plan that fulfills the needs of AEC to successfully transition the finance function from JEI to in house. The transition plan will include describing the plan for the operationalizing financial services and implementing a financial accountability framework that will provide reasonable assurance to the Office of the Auditor General in order for them to issue a clean audit opinion.

Services  Scope and Deliverables:

Phase 1 – Needs assessment

Assessment of positions, infrastructure and other  resources (including software, bank accounts, etc.) required to meet current and anticipated growth needs of AEC’s finance function. This will include interviews with the core individuals (CEO, finance team at JEI, VP Investments and Operations Manager), assessment of tasks required, as well as assessing and evaluating current IT/Accounting systems utilized and a recommendation on what positions and other resources will be needed.

Deliverable: Written report outlining a recommendation of the detailed resources (positions and other resources) required to complete the transition. This may include a recommendation of processes and other advice for consideration for future implementation.

Phase 2 – Development of job descriptions and salary bands

Outline individual positions (proposed titles and qualifications) and detailed position descriptions as well as salary bands for such positions. The review must take into account the needs assessment from Phase 1, current compensation structures and compensation levels in similar organizations.

Deliverable: Written position descriptions, including recommended qualifications and salary bands.

Phase 3 – Detailed implementation plan

Creation of a detailed implementation plan, including timelines, milestones, estimated costs, and assigned responsibility for each task. The implementation plan must take into account the input of AEC, JEI Finance team and other external sources as may be relevant.

Deliverable: Written implementation plan. 

Timing: Anticipated start April 13th with completion of the project and submission of deliverables to AEC by June 30, 2022.


Qualification requirements and/or desirable provisions are listed in Appendix A (Proposal Template), Section B. Proposals must demonstrate that the mandatory Qualification requirements listed in Appendix A (Proposal Template), Section B are met.

Service Delivery Approach:

The Proponent should describe the proposed service delivery approach, reference Appendix A (Proposal Template), Section C.

Value Add:

The Proponent may describe attributes of the Proposal which are over and above the requirements of the Invitation to Tender and included in the proposed pricing, reference Appendix A (Proposal Template), Section D.

Proposal Pricing:

The Proponent shall propose pricing in accordance with Appendix A (Proposal Template), Section E (Proposed Pricing).

The contractor may only invoice AEC for actual hours worked up to the Proposed Total Rate in Section E. Payment will be made in arrears for each phase upon the contractor providing the deliverables as described in section 2.

Proposal Evaluation:

The evaluation criteria will be distributed in accordance with categories in section 7.

Proposal Format:

Proponents can submit Proposals using Appendix A Proposal Template). Proposals may be submitted in other formats provided that they include a response to the mandatory requirements identified in Appendix A (Proposal Template).   Proposals should provide a response to the desirable provisions in Appendix A (Proposal Template).


AEC will evaluate the proposals in accordance with section 7. AEC reserves the right to request follow up information from each candidate and to invite candidates to presentation to the selection committee. Only final candidates, as determined based on the evaluation categories outlined in section 7, will be contacted. A consulting contract will be completed with the successful proponent. AEC reserves the right to request references. AEC reserves the right to not award a contract or to reissue the invitation for tender if no successful candidates are identified. AEC reserve the right to amend the service scope and deliverables in this invitation to tender.


Questions regarding this invitation to tender may be submitted by e-mail to info@alberta-enterprise.ca. 

Closing Date and Time:

March 11, 2022 at 14:00:59 Alberta Time

Proposal Submission: