What Does Mitacs Accelerate Fund? A Complete Guide to Eligible Expenses
Mitacs Accelerate is a vital Canadian funding program designed to foster collaboration between academia and industry, driving innovation through research projects. Understanding what expenses are eligible for funding under this program is crucial for applicants seeking to maximize their funding potential.
Program Funding Overview
Mitacs Accelerate provides a comprehensive framework for funding research projects through internships that last four to six months. Each internship unit is valued at $15,000 CAD, requiring a $7,500 CAD contribution from the partner organization. For postdoctoral researchers, the funding model increases to $20,000 CAD per internship, with a $10,000 CAD contribution from the partner. These funds are designed to support various research-related expenses, ensuring that both academic and industry partners benefit.
Funding Amounts & Rates
Standard Internship Funding: $15,000 CAD per four- or six-month internship.
Postdoctoral Internship Funding: $20,000 CAD per internship, available only to postdoctoral fellows.
Partner Contribution: $7,500 CAD for standard internships, $10,000 CAD for postdoctoral internships.
Eligible Expenses
The Mitacs Accelerate program covers a range of expenses integral to the completion of research projects:
Stipends and Salaries: At least $10,000 CAD of the award must go to the intern as a stipend or salary.
Research Costs: Up to $5,000 CAD can be allocated to research-related expenses such as materials, equipment, and travel necessary for the project.
Project Extension Costs: Additional funding may be available for extending project timelines, subject to certain criteria and additional contributions from partner organizations.
Ineligible Expenses
While Mitacs Accelerate offers substantial support, certain costs are excluded from funding:
Tuition Fees: The program does not cover university tuition fees for interns.
Non-Research Costs: General overheads, administrative costs, and unrelated travel expenses are not funded.
Personal Expenses: Costs not directly tied to the research project or its objectives.
Expense Documentation Requirements
To ensure transparency and proper allocation of funds, the following documentation is required for expense claims:
Receipts and Invoices: Detailed proof of purchase for all materials and services.
Travel Logs: Documentation for any travel expenses claimed, including itineraries and receipts.
Timesheets: Records of intern hours worked, if applicable.
Examples of Funded Projects
Mitacs Accelerate supports a diverse range of projects, from developing new technologies to enhancing environmental sustainability:
Technology Development: Projects focused on creating new software or technological processes.
Environmental Research: Initiatives aimed at improving sustainability practices or understanding ecological impacts.
Healthcare Innovations: Research projects that develop new methods or products for medical applications.
Funding Disbursement & Claiming Process
Funds are disbursed to the academic institution upon receipt of the partner's financial contribution. Interns must ensure all documentation is submitted accurately and on time to facilitate this process.
Disbursement Timeline: Funds are typically available within two weeks of contribution receipt.
Claim Submission: All claims must be supported by comprehensive documentation as outlined in the program guidelines.
Stacking Rules
Mitacs Accelerate allows for funding from multiple sources, provided there is no overlap in fund usage:
Concurrent Funding: Projects can receive funding from other sources, but total funding must not exceed the project’s total cost.
Reporting Requirements: All additional funding must be disclosed and documented.
Real-World Budgeting Tips
Maximize your Mitacs funding by:
Planning Thoroughly: Align project objectives with eligible expenses to ensure full utilization of funds.
Tracking Expenses: Maintain detailed records from the start to simplify the claiming process.
Engaging Stakeholders: Regularly update partners to maintain clear communication and avoid funding issues.
Conclusion
Mitacs Accelerate is a powerful tool for driving research and innovation across Canada. By understanding what expenses are eligible for funding, applicants can strategically plan their projects to make the most of this valuable resource. Engage with your Mitacs Advisor for specific guidance and to ensure compliance with all program requirements.
