In partnership with Canadian academic institutions, Mitacs is launching the Business Strategy Internship (BSI) program. BSI is an internship program that will provide students with the opportunity to develop a strategic project in partnership with a company or not-for-profit (NFP) organization in Canada. This internship program is for students to apply their strategic business skills to help Canadian SME businesses on the road to economic recovery. Strategy might be related to product redesign, product & services pivot, marketing, operations, finance, logistics, etc.
International visa students and all Canadian and students with permenant resident status are eligible for this funding stream. The award will provide $10,000 to interested students who develop a project designed to help the organization restore or modify business operations in the new economic environment.
Mitacs is showing its commitment to working with Indigenous peoples by creating equitable access to these programs.
The University of Waterloo has negotiated 100 spots under this funding stream for the Winter 2021 and Spring 2021 work terms. For Spring 2021, applications must be approved before March 31, 2021.
The required length of the work term is 480 hours over a 4-month period. However, work terms with minimum 3 months in length might also qualify with the time before/after invested in opt-in training and report writing.
Once the work term is pre-approved for BSI funding consideration by co-op, the employer is invoiced $5,000 CAD (+tax) by Mitacs. Mitacs will add $5,000 CAD and send a total of $10,000 CAD per internship to UWaterloo’s Office of Research. The student will receive 2 installments of $5,000 CAD in the first and third month of their work term as an award from UWaterloo’s Student Awards and Financial Aid office.
Since this is a Mitacs funding stream, an academic supervisor is required. CEE’s Associate Provost, Dr. Norah McRae will be the academic supervisor for approved work terms.
The student application will be reviewed twice – first, by UWaterloo co-op for quality and adherence to program objectives in accordance with Mitacs assessment criteria, followed by a Mitacs review for eligibility and completeness.
Mitacs expects the following outcomes:
- Enhanced skills amongst participating interns.
- Enhanced plan for organization continuation and survival following the COVID-19 crisis.
- Identification of new connections, potential for further collaboration, or project extension through other Mitacs programming.
Partner organization must be:
- SME with less than 500 full-time employees, or not-for-profit organization; municipalities and hospitals do not qualify.
- Employer must commit $5000.00 + tax to Mitacs prior to application approval.
- Ensure that the company funds committed by the organization have NOT been leveraged against other federal or provincial programs.
The employer is responsible for:
- Working with the student to develop a project that responds to current business needs.
- Guidance and mentorship.
- Providing $5,000 in funding to contribute to the student stipend.
- Providing their contact information on the Mitacs RAP once they receive the link through the student application
- Completing the Mitacs Exit Survey following completion of the project
The student must be:
- Registered college, undergraduate or graduate student at a Canadian academic institution
- Not a current, active participant in another Mitacs program, or their current program must be on hold
- Can be from any academic discipline
- As the program is specifically geared to support students at Canadian institutions and Canadian organizations, students must be located in Canada for the internship; visa students must have valid co-op work permit, SIN and bank account
The student is responsible for:
- Designing a 16-week (480 hours) strategic analysis project proposal in collaboration with the partner organization
- Creating an account on the Mitacs RAP and uploading their project proposal
- Completing an Exit Survey and a Final Report outlining their project experience
- Creating an EDGE account to access Mitacs training courses
- Providing a PowerPoint deck of the presentation to be made to your academic supervisor
- Once the co-op student is matched to a job or has their arranged-own job approved on WaterlooWorks, they should discuss with their employer if the organization qualifies for the funding, and their work term fits under the business strategy.
- If yes; then the student must fill in the Mitacs BSI Application Form and submit it to firstname.lastname@example.org.
- Proposals will be reviewed and assessed based on criteria on pg. 4 (section: Program application review) of the Applicant Toolkit (PDF) (info about Mitacs BSI also found here).
- The student will receive a response in 2-3 business days.
- The student must upload the approved PDF returned to them into their application in the portal.
- If approved, the student should start the application in the Mitacs Registration and Application Portal (RAP), using either Edge or Chrome.
- The students are requested to use the Application Guide for submitting their application. A copy of the application guide will be provided to you once you have connected with email@example.com expressing an interest in applying.
- The Academic Supervisor’s CV will also be required and a copy will be sent to you after connecting with firstname.lastname@example.org.
- The student will send the employer and academic supervisor invitations via the online portal to submit and verify their details for the application.
- After the employer and academic supervisor have submitted their details, the student must complete the application.
- Once the application is submitted, Mitacs will reach out for invoicing the organization for their financial contribution to the project. Payment must be made prior to the final approval stage.
- The end-to-end approval process generally takes 3-4 weeks.
- During the work term, students will have access to training content via Mitacs’ EDGE platform.
- At the end of the work term, students must submit a Final Report to Mitacs in addition to any faculty-related work report requirements.
- Before the end of the work term, students must submit a PowerPoint deck of the 15-minute presentation to be made to your academic supervisor.
- At the end of the work term, both students and employers must fill out the Mitacs survey.
- The Mitacs BSI award will first be applied toward any outstanding fees the student may have on their Quest student account. The rest will be refunded to the student. Refunds will only be issued by direct deposit to a personal bank account at a Canadian bank. The student should add or update their Canadian banking information on Quest to ensure they receive any refunds owing to them. If the student is not able to add Canadian banking information on Quest, their refund will be held on their student account to be applied to future charges. The award is contingent upon the student completing the work term as agreed between them and their supervisor. If they are unable to complete the experience, the value of the award may be adjusted.
If you have questions, please reach out: