Economic Action Plan invests in the knowledge economy, skilled workforce
Waterloo, Ontario — Graduate students in science, technology, engineering, and mathematics programs will gain real-world business skills and experience through internships with small- and medium-sized businesses as a result of a new Government of Canada initiative to strengthen the economy of southern Ontario. The Honourable Gary Goodyear, Minister of State (Federal Economic Development Agency for Southern Ontario) launched the new Graduate Enterprise Internship today at an event in Waterloo, Ontario. Members of Parliament Patrick Brown and Jeff Watson held announcements in Barrie and Windsor respectively, highlighting the benefits for residents of southern Ontario.
“Our government is committed to creating jobs and supporting economic growth in southern Ontario,” said Minister Goodyear. “The new Graduate Enterprise Internship will give science, technology, engineering, and mathematics graduates business skills to help them move into the workforce, while providing businesses with greater access to technical expertise they need to innovate.”
The Graduate Enterprise Internship will provide up to $80 million over four years to programs that offer science and engineering graduate students and recent graduates (within five years) of undergraduate programs, internship and mentoring opportunities with small- and medium-sized businesses. Interns will gain business experience to complement their scientific skills and companies will benefit from interns’ technical knowledge.
“This investment from the Government of Canada is crucial for creating permanent, high-quality knowledge jobs for young researchers in southern Ontario,” said Dr. Arvind Gupta, Scientific Director of MITACS, a national research network which runs an industrial research internship program, MITACS Accelerate. “By augmenting their research and business skills, we are setting these young people up to succeed and in return, Ontario succeeds.”
The government’s actions are guided by a firm commitment to supporting job creation and economic growth, and mapping the path to Canada’s economic recovery.
The initiative is a direct result of feedback from business leaders, academics and community leaders from across southern Ontario, who encouraged FedDev Ontario take a leadership role in addressing the ability of young people to meet future labour market needs and successfully transition into the southern Ontario workforce.
FedDev Ontario was created as part of Canada’s Economic Action Plan to support businesses and communities in southern Ontario. Now in its second year of operation, the Agency is launching a number of initiatives to create a Southern Ontario Advantage and place the region in a strong position to compete in the global economy. These initiatives are designed to support businesses and other organizations through partnerships and investments in skills and training; innovation; research and development; and increased productivity. To learn more, please visit www.feddevontario.gc.ca or call 1-866-593-5505.
Questions and Answers
Graduate Enterprise Internship
Graduate Enterprise Internship
What is the Graduate Enterprise Internship?
The Graduate Enterprise Internship will support businesses and not-for-profit organizations as they provide recent STEM (Science, Technology, Engineering and Mathematics) graduates and current graduate students with internship and structured mentoring opportunities to help them gain business and management knowledge in a workplace environment. Businesses will also benefit from the technical and scientific knowledge of students and recent graduates.
By equipping graduate students and recent graduates of undergraduate programs in sciences and engineering with real-world business experience, this initiative will help to build a future talent pool in the STEM fields and lead business innovation in southern Ontario.
The Graduate Enterprise Internship is an example of how FedDev Ontario is working to build a People Advantage, in line with the priorities of the Southern Ontario Advantage, the Agency’s strategic direction for the future.
How much funding is available?
Up to $80 million will be available over four years for projects put forward by not-for-profit corporations and post-secondary institutions.
Applicants will be eligible for up to $15,000 per six-month internship with a collaborating business for graduate students and up to $10,000 for students who recently completed an undergraduate program in sciences or engineering.
Who is eligible for funding?
Not-for-profit organizations and post-secondary institutions located in southern Ontario that currently offer mentorship or internship programs for STEM graduate students and recent graduates of undergrad programs.
How do I Apply?
To download an application, please visit the website at www.feddevontario.gc.ca.
What is the deadline for applications?
Applications will be received until funding is fully expended or project activities can reasonably be completed before the initiative ends on March 31, 2014.
When do projects need to be completed?
All mentorship placements must be completed by March 31, 2014. Agreements with participating businesses must be executed and funding committed for internships by March 31, 2013.
When will the funding be announced?
Announcements will be made as projects are assessed.
What is the Southern Ontario Advantage?
To place southern Ontario in a strong position to compete in the global economy, we are working to build a Southern Ontario Advantage.
Within the next several months, FedDev Ontario will deliver a number of initiatives that will help businesses and communities become more competitive. Initiatives will focus on areas that include skills and training, innovation, commercialization, collaboration, business and community development and diversification.
When will other initiatives be announced?
Initiatives under the Southern Ontario Advantage will be launched over the coming weeks and months.
How does the initiative fit with other Economic Action Plan initiatives that have been announced?
In line with the objectives of the Economic Action Plan, FedDev Ontario's goal is to strengthen southern Ontario's economy for years to come. The Agency will deliver the Graduate Enterprise Internship to build a southern Ontario People Advantage and build the region’s future talent pool. By providing young STEM entrepreneurs with business and management skills, the Graduate Enterprise Initiative will help students transition into the workforce and fuel business innovation.