Government of Canada Connects Science Grads and Students with Businesses in Southern Ontario

OTTAWA, ONTARIO--(Marketwire - March 5, 2012) - The Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), today announced a Government of Canada contribution of up to $4,227,500 to Mitacs Inc. that will give graduate students and recent graduates of science, technology, engineering and mathematics (STEM) programs real world business skills and experience through internships with small- and medium-sized businesses in southern Ontario.

"Our government is committed to creating jobs and supporting economic growth," said Minister of State Goodyear. "Through our contribution to Mitacs' Enterprise Program, we are helping to equip science, technology, engineering, and mathematics students with real-world experience, while providing businesses in southern Ontario with technical knowledge and innovative ideas to help them succeed."

This investment is being provided through FedDev Ontario's Graduate Enterprise Internship, which provides funding for not-for-profit organizations and post-secondary institutions to arrange internship and mentoring opportunities for recent graduates and graduate students with small- and medium-sized enterprises.

Mitacs is a national network that connects Canadian businesses and other organizations with the next generation of skilled workers through innovative research and training programs. This investment will allow Mitacs to place 320 graduates and graduate students of STEM programs in internships with small- and medium-sized businesses in southern Ontario over three years, under its new Enterprise program.

"In order to build a strong, knowledge-based economy, we must provide opportunities for recent university and college graduates to work with companies and gain on-the-ground experience right here in southern Ontario," said Dr. Arvind Gupta, Chief Executive Officer and Scientific Director of Mitacs. "The Government's investment in the Mitacs Enterprise program will enable future innovators to gain new skills and connect with potential employers."

For more information on the Graduate Enterprise Internship and Mitacs' Enterprise program, please refer to the backgrounder.

The investment announced today supports the Government of Canada's science, technology and innovation agenda, which is focused on increasing the country's productivity, creating jobs and growing the economy.

Created in 2009, FedDev Ontario supports the southern Ontario economy by building on the region's strengths and creating opportunities for jobs and economic growth. The Agency has launched 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 encourage partnerships and support projects that help the region's businesses and communities become more competitive, innovative and diversified. To learn more, please visit www.feddevontario.gc.ca or call 1-866-593-5505.

Backgrounder

Mitacs Inc. and the Enterprise program

FedDev Ontario is providing Mitacs Inc. with a contribution of up to $4,227,500 to place 320 recent graduates and graduate students of science, technology, engineering, and mathematics (STEM) programs in internships with small- and medium-sized enterprises (SMEs) in southern Ontario over three years, as part of its Enterprise program.

Mitacs' Enterprise program is a competitive six-month internship and business mentorship program that gives graduates of STEM programs an opportunity in a STEM-based SME operating in southern Ontario.

The program matches high-potential participants to SMEs and provides interns with three days of business and management training, a peer support network and progress monitoring to encourage business and skill development of the intern and knowledge transfer to the SME.

The project will allow private sector business leaders to pass on their knowledge and business skills to young people pursuing STEM studies and careers in southern Ontario, and help develop the next generation of leaders in business and innovation. This will help equip southern Ontario to meet future labour market needs.

More information on Mitacs Inc. and the Enterprise program is available at www.mitacs.ca.

Graduate Enterprise Internship

The Graduate Enterprise Internship provides funding for eligible not-for-profit organizations and post-secondary institutions in southern Ontario to arrange internships with structured business mentoring opportunities in southern Ontario SMEs for graduate students and recent graduates of STEM programs. Only organizations with established track records and currently delivering internship placements for STEM students or graduates are eligible.

Eligible applicants may receive a non-repayable contribution towards an intern's salary of up to $15,000 per six-month internship for a graduate student or recent graduate of a master's or doctoral-level STEM program and up to $10,000 for a recent graduate of an undergraduate STEM program or a college program at the advanced diploma level, as well as delivery costs to manage the internships. The host SME must contribute a minimum of 50 per cent of the intern's salary and benefits.

For more information, please refer to the Initiative Guidelines available on the website at www.feddevontario.gc.ca.