Mitacs project funding

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:

• Project length is scalable up to 2 years. Projects can range from a single four-month internship unit to up to 10 internship units (4 - 6 months each) to accommodate larger projects with more interns, as well as ‘TBD’ interns for later recruitment.
• Undergraduates, graduate students (PhD and Masters), postdoctoral fellows, and recent grads (within 2 years) are all eligible to participate.
• Each 4-6-month internship unit receives $15,000 in direct funding, with the partner organization and Mitacs each providing $7,500.
  • In cases of a part-time role, or certain partners - Mitacs can match $5,000 for a total unit value of $10,000.
• The $15,000 is placed in a research account at the university in the name of the intern’s academic supervisor and is managed according to the budget associated with the project.

Given that the demand for the program is larger than the number of available internships, the focus in Ontario for the 2024-25 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

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.