Mitacs project funding

Man wearing glasses smiling, Mitacs logo in the corner

Mitacs works to provide a key link between Canadian private sector and post-secondary institutions by offering grants and funding for research and projects-based employment opportunities for post-secondary students. This funding compensates 50% of the student salary and is a unique opportunity as it is eligible for international visa students, permanent residents, and Canadian citizens.
 

Mitacs Business Strategy Internship (BSI)

What is Mitacs BSI?

Mitacs is a federal funding agency that offers several funding schemes. The Business Strategy Internship (BSI) program is intended to support innovation:  projects that fundamentally improve the function, capability, capacity, or potential of eligible Canadian Businesses or Community Partners. Key points include:

  • The industry partner provides 5K$ or 7.5K$ (whatever is best for their budget model) per intern for a 4-month co-op work term to Mitacs
  • Mitacs matches that amount 1:1, and provides the entire amount ($10,000 or $15,000) to the University of Waterloo
  • The University, then, transfers the entire amount to the student’s University account as a one-time payment. It is paid as a stipend vs monthly paycheque.

Given that the demand for the program is larger than the number of available internships, the focus in Ontario for the 2023-24 fiscal year is to support projects that lead to economic benefits and impact for the partner and intern (e.g. commercialization of technologies, IP strategy creation, or accessing new and different markets).

Advantages

  • Provides wider access to talent as international visa students are eligible for this funding in addition to Canadians and permanent residents.
  • You can lock-in funding spots for multiple semesters ahead of time.
  • Funding can be secured prior to hiring co-op student(s).
  • If desired, employers can top up Mitacs grant to stay competitive.
  • Employers receive robust application support for quality Mitacs proposals via dedicated staff member for high probability of approval

Resources

Summary

Program: Mitacs Business Strategy Internship (BSI)
Amount: The funding model is 50/50, where 50% of the compensation is funded by the employer with Mitacs matching the remaining 50%. There are two funding levels employers can apply for: $10,000 and $15,000. Based on these levels, the employer contributes $5,000-$7,500 per four-month work term, with the co-op student receiving the full $10,000 or $15,000 following Mitac’s funding match.
Who can apply for eligibility: This program is great for any organizations looking to hire for their innovative projects. Eligibility criteria:
  • For-profit corporations and eligible not-for-profit corporations, municipalities and hospitals in Canada
  • Available for all sectors
  • Co-op students hired can be international students, Canadian citizens and permanent residents.
NOTE: Eligibility of not-for-profit corporation, municipalities and hospitals must be assessed prior to proposal submission.
How to apply: A key component of the BSI application is creating a project plan that satisfies the objectives of the program outlined above. As opportunities arise please connect with Amanda Green to explore alignment with the program.
Application deadline: Applications are accepted throughout the year. The deadline for submitting BSI applications is 6 weeks prior to the start of the co-op term.

Mitacs Accelerate Program (research-based funding)

Mitacs offers grants and funding for research-based employment opportunities for Canadian companies employing post-secondary students for four or eight months. This funding compensates 50% of the student salary and is a unique opportunity as it is eligible for international visa students, permanent residents, and Canadian citizens.

Summary

Amount: Employer will contribute $7,500 per 4- to 6-month unit, which receives a $15,000 research award. For six or more units with three or more interns, you have the option to contribute $6,000 per project unit, which receives a $13,300 research award. 
Who can apply (eligibility): This program is great for any organizations looking to hire for their research and development projects. Eligibility criteria:
  • For-profit corporations and eligible not-for-profit corporations, municipalities and hospitals in Canada 
  • For-profit businesses operating outside Canada
  • Eligible intern-owned start-ups at approved incubators
  • Available for all sectors
  • Must hire full-time students at all Canadian colleges and full-time grad students at all Canadian universities for the internships
NOTE: Eligibility of not-for-profit corporation, municipalities and hospitals (as well as the project's economic orientation for these partners) must be assessed prior to proposal submission.

Email Mitacs to confirm your eligibility.
How to apply: Contact Amanda Green to discuss your research needs. She can identify potential academic collaborators, help refine research objectives, and assist you with your proposal.
Application deadline: Applications are accepted throughout the year.

Questions about Mitacs funding? Connect with Amanda!  

Amanda is a Senior Advisor, University of Waterloo at Mitacs.
  
She can provide you with guidance on how Mitacs can meet your funding needs for students working on your innovative projects. 
  
Email: amanda.green@uwaterloo.ca
Phone: (519) 580-5476
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