This past week, the Canadian Government announced the continuation of their support to the MITACS Funding Organization and their business funding grants for research and development. The MITACS organization will receive approximately $8.75M over the next two years in support of their globalization and expansion funding for small business. These programs look to incorporate academic expertise with corporate resources to support innovation and prosperity within the Canadian economy.
MITACS Canadian Government Funding Grants
The federal government’s funding will be directed towards three of MITACs’ primary internship programs. These would include:
- MITACS Accelerate: This program acts as a cost sharing program where MITACs will match up to $10,500 for the recruitment of an undergraduate for a 4-month internship. Businesses can receive extensive support and resources from a major university towards the development of an innovative solution to a potential challenge. Businesses would be able to hire the same undergraduate twice in a 12-month period through this program.
- MITACS Elevate: Businesses can receive up to $65,000 in support of a 12-month collaborative research and development project that would be led by a recently graduated post-doctorate fellow. Projects should be concentrated on development of leadership and management qualities in the participating PhD while improving the industry partner’s ability to compete in global markets.
- MITACS Globalink: This program looks to recruit bright and young individuals from around the world to participate in a 3-month research project involving one of Canada’s most prestigious post-secondary institutions. The overall objective of this program is to develop a long lasting relationship with international research institutions while supporting innovation within Canadian industries.
- MITACS Enterprise: Businesses can receive up to $30K in non-repayable business funding grants or 50% of the salaries for one or multiple post-secondary graduates. The intern(s) would be hired for 6-month research project relating to one of the fields of STEM (Science, Technology, Engineering, and Math).
The new round of Federal Government funding for business should support the recruitment of approximately 900 students over the next two and a half years.
Advice and Support for Small Business Funding Grants
Businesses that are interested in expanding their capacity and improving their international market presence should strongly consider one of the Canadian Business Funding Grants for International Expansion. Interested parties can also receive additional small business funding advice and support by contacting one of our Canadian Government Funding Experts or signing up for a Free 60 Minute Canadian Government Funding Workshop. Our readers can also stay up-to-date with the latest in Ontario Government Funding by signing up for our Weekly Canadian Government Funding E-Newsletter or Joining our Circle on Google+.