MaRS Embark Funding is a wage subsidy offered through MaRS and your local Regional Innovation Centre (RIC). Embark offers up to $20,000 in funding to hire a young professional (between the ages of 22-29) for a business role who will work with the venture to help reach specific goals or milestones. The business is required to contribute $2500 or 12.5% of the requested funding amount.
Which Companies Qualify for the Embark Funding for Hiring Program?
In order to qualify for this lucrative funding program, applicants must meet the following criteria:
- Must be an Ontario-based technology companies that possess a clear, sustainable technological advantage,
- Must not have raised more than $2 million in total funding from sources such as VC, angel, personal capital, family,, government-funded investment programs and bank loans (does not include funds from government R&D grants),
- In some exceptional cases, the venture may have raised up to $3 million in total funding. These exceptions include:
- Cleantech ventures developing capital-intensive assets such as energy storage and energy generation technologies,
- Life sciences ventures operating in the drug development, biotechnology, and medical and assistive device industries.
- Must have less than $1 million in revenue for a given year,
- Must be a current client of a Regional Innovation Centre (RIC),
- Cannot be a subsidiary of a larger, ineligible parent company,
- Established for less than 8 years,
- Must have at least 1 employee on payroll.
Note: Applicants firms do not need to have a candidate recruited for the position at the time of submitting an application.
Which Candidates are Eligible for Embark Hiring Grants for Tech Start-ups?
Candidates for employment must meet the following criteria in order to qualify for this Hiring grants for Tech startups program:
- Must not have an existing relationship with the prospective employer, however some exceptions can be made on a case-by-case basis.
- The candidate will be between the ages of 22 and 29 years of age,
- The rate of pay received by the employee will not exceed the maximum set by the program,
- The candidate must not be a paid advisor, EIR, or staff on contract at a RIC.
Embark Grants for Hiring to Small Businesses in Ontario: Application Deadline
Applications will be received from September 22, 2014 until the deadline of October 15, 2014. Positions will begin on December 1, 2014.
Contact Your Local Regional Innovation Centre for Additional Information
For further information on this program, please connect with your Regional Innovation Centre at a city near you.
- MaRS Venture Services, Toronto
- Communitech, Kitchener-Waterloo
- HalTech, Halton
- Innovation Initiatives Ontario North (IION), North Bay
- Innovation Factory, Hamilton
- Innovation Guelph, Guelph
- Innovate Niagara, St. Catharines
- Invest Ottawa, Ottawa
- Launch Lab, Kingston-Eastern Ontario
- NORCAT Innovation Mill, Sudbury
- Northwestern Ontario Innovation Centre (NOIC), Thunder Bay
- RIC Centre, Mississauga-Peel
- Sault Ste. Marie Innovation Centre (SSMIC), Sault Ste. Marie
- Spark Centre, Durham Region-Northumberland
- TechAlliance, London-Southwestern Ontario
- WEtech Alliance, Windsor-Essex
- ventureLAB, York Region
Additional Canadian Government Grants for Hiring Opportunities
Mentor Works Canadian government funding experts have the inside track on lucrative funding for hiring opportunities. If you are an established small business that is expanding within the borders of Canada contact a Canadian government funding expert to learn about how you can receive funding to offset salary costs (up to $20,000 per hire). Also be sure to sign up for our Canadian government funding weekly e-newsletter in order to stay up to date on funding-related news and updates.