Mitacs — Business Strategy Internship
Canada
Funding for R&D collaborations with students
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|openingDateAugust 23, 2021
grant_single|financingType
Wage Subsidies And Interns
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Mitacs
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get a contribution to cover a portion of eligible expenses for a collaborative project. Activities should address a business innovation components (R&D to improve connectivity, access to innovation, enabling partnerships and providing training for SMEs,
grant_single_labels|projects
This grant is designed to benefit Canadian businesses, suggesting eligibility for companies operating within Canada. The geographical focus aligns with supporting innovation within Canadian regions.
- Businesses located across all Canadian provinces.
- Organizations situated in Canada's territories.
grant_single|admissibleProjectsExample
$10,000
Creating an e-learning platform for mental health education
$10,000
Launching a sustainability consulting firm focusing on renewable energy
$10,000
Developing a waste management solution for urban households
$10,000
Developing a medical device prototype to assist diabetic patients
$10,000
Developing a mobile app for local artisans to sell crafts
$10,000
Improving the supply chain efficiency for a local food co-op
grant_single_labels|admissibility
Eligibility for the Business Strategy Internship grant requires partner organizations to meet certain criteria.
- The partner organization must be able to contribute $5,000 to $7,500 towards the intern's award, based on the chosen funding model.
- The partner organization must collaborate with interns and academic supervisors to co-design the project focused on business innovation components.
- The organization should not be associated with any current, active conflicts of interest involving the intern.
- The partner organization and academic institution must reach an agreement on intellectual property rights, aligned with the institution's IP policies.
- The organization must have the capacity to supervise and support the intern for the duration of the internship.
- The project proposed by the organization should not start until the approval letter has been received, and all funds have been processed by Mitacs.
grant_eligibility_criteria|who_can_apply
The Business Strategy Internship (BSI) program is open to a diverse range of applicants, focusing primarily on postsecondary students and recent graduates. Below are the key eligibility criteria for individuals who can apply:- Interns must be registered as college, undergraduate, graduate students or postdoctoral researchers at a Canadian academic institution.- Interns may not actively participate in another Mitacs program at the same time.- Interns can be from any academic discipline or faculty, offering a broad opportunity for many fields of study.- Recent graduates (within two years of their graduation date) are eligible to apply.- Part-time students can participate if they maintain student status at a Canadian academic institution throughout the internship, are insured like full-time students, can receive a stipend or salary from the Mitacs grant through their institution, and can commit the necessary time for the project duration.These criteria ensure that a wide range of students and recent graduates have the opportunity to gain valuable work experience through the Business Strategy Internship, making it inclusive to a variety of educational backgrounds and fields.
grant_eligibility_criteria|who_cannot_apply
This grant application does not specify particular types of companies or industries that are ineligible. Instead, it emphasizes conditions such as lack of a conflict of interest.
grant_eligibility_criteria|eligible_expenses
This grant supports projects that aim to enhance organizational innovation and operational efficiency across various business domains. Eligible activities are designed to improve products, processes, or services and foster collaboration between academia and industry.
- Co-designing and implementing business innovation strategies for partner organizations.
- Developing new or improved business models to enhance organizational processes.
- Conducting market research to aid in product development and service delivery.
- Exploring and facilitating the creation and ownership of intellectual property in Canada.
- Designing innovative solutions to address operational challenges in marketing, operations, or finance.
- Improving public and private sector services through process innovation.
- Advancing new approaches for inclusive knowledge-based economic participation.
grant_eligibility_criteria|zone
The Business Strategy Internship (BSI) program allows flexible use of project funds following Tri-Agency Financial Administration guidelines for eligible expenses.
- Intern stipend (minimum of $10,000 from the total funding if using the $15,000 model).
- Eligible project costs, which can include expenses such as travel, equipment, and materials necessary for the project.
grant_single_labels|criteria
The evaluation and selection of projects for the Business Strategy Internship (BSI) grant focus on assessing project eligibility, quality, economic and societal impact, talent development, and collaboration benefits.
- Project quality, including the description of objectives, approach, and deliverables.
- Economic and societal impacts, such as innovation generation and productivity enhancement.
- Development of talent, including training opportunities and skills enhancement for interns.
- Benefits from collaborating among academia, industry, and communities, including knowledge exchange and long-term relationship building.
- Risk assessment, including feasibility, loss of talent, and unintended negative impacts.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Confirm Program Availability
- Contact your local Mitacs Advisor to validate current availability of the Business Strategy Internship (BSI) program.
- Step 2: Registration and Account Creation
- Access the Mitacs Registration and Application Portal (RAP) to begin the application process.
- Create an account if you do not already have one.
- Step 3: Proposal Preparation
- Utilize the proposal template provided through the RAP.
- Draft a detailed project proposal in collaboration with your academic supervisor and partner organization.
- Ensure you adhere to all guidelines, including conflict of interest policies.
- Step 4: Application Completion
- Complete all sections of the application in the RAP.
- Obtain necessary electronic sign-offs from the intern, academic supervisor, and partner organization.
- Step 5: Institutional Review
- Download the completed project proposal and ORS sign-off template.
- Send the documents to your institution’s Office of Research Services (ORS) for review and signature.
- Step 6: Submission to Mitacs
- Upload the ORS signature page to the RAP.
- Submit the finalized application through the RAP.
- Step 7: Post-Submission Process
- Await Mitacs review of application, which may take approximately four weeks.
- Revise and resubmit any sections if requested by Mitacs for completeness.
- Step 8: Fund Release and Project Launch
- Receive approval letter confirming project start date.
- Ensure the academic institution has received funds before starting the project.
grant_single_labels|otherInfo
Here are additional relevant details for the Business Strategy Internship grant:
- The internship program offers online professional development courses to participants via Mitacs's e-Campus, EDGE.
- Interns must co-design their project with their academic supervisor and partner organization, addressing the needs of the organization.
- Weekly meetings between interns and supervisors are required, which can be conducted virtually.
- The program aims to foster equitable access by underrepresented groups and promote inclusive innovation.
- Participants must complete an exit survey, and academic institutions are required to submit a financial report after project completion.
- Mitacs facilitates discussions on intellectual property sharing between academic institutions and partner organizations.
- Involvement of Indigenous communities in related projects requires their support and a clear agreement on the access and governance of resulting knowledge.
Apply to this program
Empowering Innovation Through Business Strategy Internship
This internship program offers postsecondary students and recent graduates an opportunity to engage in real-world business strategy projects. It aims to enhance the innovation capabilities of Canadian businesses while providing valuable experiential learning for participants.
Understanding the Business Strategy Internship Program
The Business Strategy Internship (BSI) program is a collaborative initiative championed by Mitacs, designed to bridge the gap between academic learning and practical industry requirements. By placing talented interns directly within Canadian businesses, the program fosters a mutually beneficial relationship where students and recent graduates apply their theoretical knowledge to help solve critical operational challenges within organizations. Interns, under the supervision of their academic mentors and partner organizations, are instrumental in developing and executing innovative projects that empower businesses to thrive in a competitive market.
The BSI program is strategically structured to align the expertise of interns with the specific needs of partner organizations, thus bolstering the innovation pipeline across various sectors. The program encourages interdisciplinary collaboration and provides a framework for developing skills that are crucial in today’s business environments, such as marketing strategies, operational efficiency, financial management, and intellectual property development.
Eligible interns receive substantial financial support, with awards of $10,000 or $15,000 available. This funding not only compensates interns but can also be used towards eligible project costs, ensuring that both the intern and the partner organization benefit from the resources provided. The funding model is structured to offer flexibility, thus accommodating the unique financial and temporal requirements of each project. For the successful execution of these internships, partner organizations contribute financially, aligning their goals with the program's objectives to ensure a synergistic partnership.
Internships through BSI last between four to six months, with the possibility of extending to a more flexible six-month schedule. This extension provides interns the opportunity to balance their educational commitments while fully engaging with their project duties. Throughout the internship, participants are expected to meet regularly with both academic and organizational supervisors to ensure progress and address any challenges that arise. These regular interactions are crucial for maintaining focus and ensuring that projects meet their intended objectives.
The end goal of the BSI program is not only to foster innovation and growth within partner organizations but also to contribute significantly to the professional development of the interns. By participating in this program, interns gain hands-on experience and valuable skills that enhance their employability upon graduation. Moreover, the program emphasizes equality and equity by encouraging participation from underrepresented groups, ensuring diversity and inclusion within the innovation ecosystem.
Overall, the Business Strategy Internship program plays a crucial role in strengthening the ties between academia and the industrial sector in Canada, facilitating knowledge transfer, and encouraging the practical application of theoretical learning to solve real-world problems. By providing a platform for work-integrated learning, the program prepares interns for the complexities of the business world, making them valuable contributors to Canada's economy and paving the way for a future rich in innovation and creativity.
