As we come into a New Year, many small businesses are evaluating their workloads and beginning the process to hire additional staff for their organization. Many are not aware of the various business funding grants available across all industries, for a range of positions from technical, engineering, marketing or even a general program.
Business Funding Grants: Graduate Enterprise Internship (GEI) Program/iSTEM Details
FedDev Ontario is offering business funding grants to companies hiring grads from Science, Technology, Engineering, Math (STEM) graduates called the Graduate Enterprise Intership (GEI) Program, also referred to as the iSTEM Program. The program provides funding for small business to provide wages and mentorship opportunities to young graduates in their field of study.
The iSTEM program can provide up to $10K or $15K in non-repayable government grants for small business hiring towards the expenses related to hiring a recent graduate. The amount varies based on the level of education of your hire, with graduates with a Bachelors degree receiving up to $10K, and graduates from a Masters or PhD program receiving up to $15K per 6-month internship. This program still has funding available and is a great tool for new businesses. The program is offered at a number of post-secondary institutions, including the University of Waterloo, McMaster University, University of Toronto, Western University, Niagara College, and Ryerson University.
The Canadian Government currently offers several other Small Business Funding Grants for Hiring with similar benefits and objectives.
More Business Funding Grants for Hiring
Companies who wish to determine the eligibility of the company or candidate regarding the GEI/iSTEM program or any other Business Funding Grants, please reach out to a Mentor Works Canadian Government Funding Consultants. You can also keep up-to-date on the latest Canadian Government Funding Program updates by following us on Twitter or subscribing to our Weekly Canadian Government Funding E-Newsletter.