Conestoga College has recently announced that they will no longer be accepting applications for the Graduate Enterprise Internship Program. Businesses that are looking to receive small business funding grants through the GEI/iSTEM Program are still able to submit their funding applications to one of the other participating organizations: Ryerson University and the University of Waterloo. However, they are encouraged to submit their applications as soon as possible as funding proposals are becoming increasingly time sensitive.
Grants for Small Business to Hire Skilled Graduates
The Graduate Enterprise Internship (GEI) is a Canadian Government funding mechanism that supports the hiring of recent post-secondary graduates of a Science, Technology, Engineering, or Math (STEM) related program. Businesses can receive from $10K to $15K in non-repayable business funding grants through this initiative. The program’s funding is allocated through significant wage subsidies for positions that are related to the graduate’s area of expertise. Employers are required to contribute 50% of the expenses with regard to the hiring and training of the intern; however, these expenses are also eligible to include the costs of locating and recruiting candidates. In order to be considered eligible, graduates must have received their degrees from a post-secondary institution that has been deemed appropriate by FedDev to administer the program. These institutions would include:
Those who are approved can receive Canadian business funding towards the salaries of their candidate for the maximum of a 6-month internship.
Application Support for Small Business Funding Grants
Businesses that would be interested in hiring a graduate through GEI or one of the other Ontario Government Grants for Hiring Graduates can receive additional support and advice towards their applications by contacting one of our Grant Funding for Business Experts. To receive regular Canadian Government Funding up-dates similar to the one provided in today’s article, follow us on Twitter or Join our Circle on Google+.