New Funding for Small Business: Mitacs-Accelerate InDev
Mitacs, a not for profit organization, supports national innovation by coordinating collaborative industry-university research projects has recently expanded their already accredited Mitacs-Accelerate Program to include funding for more development-focused projects. Mitacs-Accelerate InDev provides collaborative research and development funding for projects involving grad students or post-doctoral fellows with applicable expertise to help improve a new or existing process, product or system for a participating industry partner.
Mitacs-Accelerate InDev Program Eligibility Requirements
Mitacs-Accelerate InDev internships provide businesses with the expertise of one or more post-doctoral or grad students for up to 4 months at a time. Internships are open to businesses from all industry sectors and projects can include a wide range of activities relating to product, service, or process development. Projects can be expected to receive up to $11,000 in direct funding per intern:
- $7,500 contributed by the industry partner;
- $3,500 contributed by Mitacs.
Businesses are able to engage more than one intern at a time, or the same intern for consecutive 4-month internships. In order to be considered eligible, interns do not have to have Canadian citizenship; however, they must be enrolled in a masters or Ph.D program with a Canadian University. All Canadian companies are eligible to participate, and do not need to be pre-registered.
Mitacs Funding for Business Growth Strategies
Internships through the Mitacs-Accelerate InDev are suited towards business development projects that have surpassed the initial stages of novel investigation and feasibility studies. Eligible project can span a wide range of activities including but not limited to:
- Marketing
- Competitive Research
- Prototyping and Design
- Validation and Testing
- Strategic Planning
- Process Training Modules
- Production Planning
Tips for Hiring Interns Using Business Funding Grants
Mitacs-Accelerate InDev is a pilot expansion initiative, which provides a suitable funding match for projects that are beyond the initial project stages involving basic research and feasibility studies. For projects that require aspects of novel investigation, businesses may consider applying for the Mitacs-Accelerate Program before applying for the InDev stream. Companies may receive support from both streams of Mitacs-Accelerate at one time, provided it is for two different interns and two separate applications are submitted. There are no limits to the number of interns a company can support as long as they are able to justify their role and importance to the success of the project.
For more information regarding internship applications or eligibility requirements, please visit the Mitacs-Accelerate Website or contact a Mitacs Representative.
Mentor Works Ltd. – Ontario Government Funding Experts
Businesses in search of additional advice and support in receiving Canadian Government Funding Grants for Small Business Hiring and other activities, please contact one of our Small Business Funding Experts and sign up for our Weekly Canadian Government Funding E-Newsletter.