FedDev is currently promoting their business funding grants for hiring new Science, Technology, Engineering, or Math (STEM) graduates. The program is called Graduate Enterprise Internship (GEI); however, some organizations more commonly refer to it as the iSTEM Program. The program provides funding for small business to provide wages and mentorship opportunities for young graduates in search of professional experience related to their field of study. The Canadian Government has created several Ontario Business Grants for Hiring with similar benefits and objectives.
iSTEM Business Funding Grants
The program can provide up to $10K or $15K in non-repayable business funding grants towards the expenses related to hiring the graduate. The amount of funding received depends on whether the proposed intern has received an undergraduate degree or they are currently enrolled in a masters or PhD program. Employers will have to provide 50% of the costs related to hiring the intern, including CPP & EI expenses for a six-month internship position. Businesses are considered to be eligible for funding if they are located in Southern Ontario with less than 1000 employees and operate in an industry related to one of the fields of STEM . Graduates must have received their degree from a post-secondary school that has been approved by FedDev to administer the program. Some of the admissible schools for iSTEM funding include:
Learn More About GEI/iSTEM Small Business Grants for Hiring Graduates
Choose from one of the following for more information, or to get started on your iSTEM application today!
Canadian Government Grants for Hiring
For more details or advice regarding the GEI/iSTEM program or one of the other Canadian Business Grants for Hiring Graduates, please contact one of our Canadian Government Funding Consultants. Businesses that are interested in receiving the latest Canadian Government Funding up-dates can follow us on Twitter or sign up for our Weekly E-Newsletter.
