Mitacs Accelerate Increases Research Funding for SMEs
Mitacs has been expanding its support for Canadian small and medium-sized enterprises (SMEs) through its Mitacs Accelerate program for a limited time. The Accelerate program has already tracked early success in autonomous driving and environmental sustainability projects. Therefore, Mitacs has decided to increase its funding for collaborative research projects between businesses and post-secondary institutions.
“Mitacs is a national, not-for-profit organization that has designed and delivered research and training programs in Canada for 20 years. Working with 70 universities, 6,000 companies, and both federal and provincial governments, we build partnerships that support industrial and social innovation in Canada.”
As a not-for-profit organization, Mitacs has facilitated over 14,000 research projects in a wide variety of fields through these unique hybrid internships. Many industries and businesses have become global leaders by allotting funding towards research initiatives, placing Canada on the map for innovation worldwide.
What Is the Mitacs Accelerate Program?
The Mitacs Accelerate program connects post-secondary institutions and students from multi-disciplinary backgrounds with businesses looking to pivot their research and development practices. Moreover, these partnerships seek to develop new technologies, systems, and products. Mitacs is increasing their funding contributions for a limited time to reflect the following conditions:
Amount of Funding:
- Applicants may now receive up to 75% of funding, up from the traditional 50% coverage, to a maximum of $15,000 per intern.
- The program can be used towards multiple internships for a maximum funding amount of $15,000 for the first four months of each of their collaborative initiatives with a post-secondary internship and up to multi-million dollars in funding depending on the number of internships and partners associated with a project.
- Incorporated, for-profit businesses, and select non-profits within Canada are eligible and some for-profit businesses operating outside of Canada. All industries and sectors are supported; preference is given to innovative research and development projects.
- Internship costs for research and developing tools, models, technology, or solutions to support the host business’ challenges.
- Projects can last between four months and two years (Masters students) or up to three years for PhDs and Post Doctoral Fellows.
- Companies retain the same grad student for the project’s duration.
- The student is expected to spend a balanced 50% of their time with the institution and 50% of their time with the partner organization and submit a final report that summarizes their experience and trial results.
One standard Mitacs Accelerate program accepts a continuous intake of applications. At the same time, this increased wave of funding is available until all funding has been committed or February 2022 for SMEs and NFPs.
Mitacs’ goal is to stimulate more collaborative solutions to challenges by fostering research and development on the national stage. Since innovation is a large source of inspiration for the Mitacs Accelerate program, they have primarily focused on helping undergraduate, graduate, and doctoral students find real-world placements.
Furthermore, Mitacs also offers another program called Mitacs Elevate, which supports industry/academic partnerships to solve critical industry issues through innovative means.