OTTAWA, ONTARIO--(Marketwire - Dec. 7, 2012) -
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Minister Joe Oliver, on behalf of the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), today announced the Harper Government's investment in Carleton University to create internship opportunities and fellowships for graduates and graduate students in the science, technology, engineering and math (STEM) fields. This investment will also benefit businesses across southern Ontario.
"Our Government is committed to achieving continued growth in the science, technology, engineering and math sectors to help grow our economy," said Minister Oliver. "This investment will help graduates gain the real world experience and business skills they need to become the modern entrepreneurs and industry leaders that take ideas from the drawing board to the marketplace."
Carleton University is receiving up to $1,430,000 through FedDev Ontario's Graduate Enterprise Internship initiative, which will be used to place 100 recent graduates and graduate students in small- and medium-sized enterprises and start-up businesses within STEM sectors.
Another contribution of up to $945,000 through FedDev Ontario's Scientists and Engineers in Business initiative, will allow Carleton to partner with the University of Windsor and award commercialization fellowships to STEM graduates and graduate students across southern Ontario. Of the 30 commercialization fellowships to be granted, up to five will go to graduates and graduate students at the University of Windsor.
"We are very grateful to FedDev Ontario for this important investment in education and economic development," said Carleton President Roseann O'Reilly Runte. "This funding will contribute to southern Ontario's economic growth through the support of local enterprises and provide global opportunities for both local business and our students."
"We're pleased to join in this partnership with Carleton and FedDev Ontario to support the prosperity of our economy through our talented students and graduates," said Dr. Alan Wildeman, President of the University of Windsor.
For more information, please refer to the backgrounder.
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.
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This news release is available online at: www.actionplan.gc.ca.
FedDev Ontario is providing two non-repayable contributions totaling up to $2,375,000 to Carleton University's Centre in Technology Innovation, for internship and fellowship opportunities in science, technology, engineering and math (STEM) fields in southern Ontario.
The following provides details on the contributions and funding initiatives:
Contribution under the Graduate Enterprise Internship
Carleton's Research Centre in Technology Innovation is responsible to the Office of the Vice President (Research and International). The research centre is receiving up to $1,430,000 through FedDev Ontario's Graduate Enterprise Internship initiative to arrange internships with small- and medium-sized enterprises (SMEs) for recent graduates and graduate students in the science, technology, engineering, and math (STEM) fields.
This project will place 40 recent graduates and 60 graduate students in southern Ontario SMEs within STEM sectors. A select number of the university's more risk-oriented graduates and students will be placed in start-up firms with fewer than five employees. Interns will benefit from working with business leaders who will share their knowledge and entrepreneurial expertise, while the technical knowledge and skills of the interns will provide businesses with additional capacity to innovate.
Graduate Enterprise Internship is designed to build a pool of highly skilled workers in southern Ontario by providing business and management experience to graduate students and recent graduates of STEM programs.
Contribution under Scientists and Engineers in Business
Carleton University is also receiving up to $945,000 through FedDev Ontario's Scientists and Engineers in Business initiative, to lead a project that will provide commercialization fellowships to STEM graduates across southern Ontario. This project aims to provide training, mentoring and funding to qualified STEM graduate entrepreneurs, enabling them to successfully convert their ideas into successful start-up companies. Of the 30 fellowships to be awarded, up to five will go to alumnae at the University of Windsor.
Scientists and Engineers in Business is designed to improve the success rate of start-up businesses in southern Ontario by developing business skills of young entrepreneurs in the STEM fields and providing targeted support to help them bring innovative ideas and products to market.
For more eligibility and application information on any of these FedDev Ontario initiatives, please refer to www.feddevontario.gc.ca.
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