Funding Available for Employers
Several programs are available to support the costs of work placements. We have linked to the most popular. Full details can be found on the specific agency websites.
- Co-operative Education Tax Credit: 25% to 30% tax credit, up to $3,000 per 12 to 16 week work term. Available for Ontario-based co-op employers only.
- Government of Canada Student Work-Integrated Learning Program (SWILP): The Canadian Government has recently invested $73 million to create 10,000 paid student work placements between 2017 to 2021 in the STEM and business fields. Funding is administered through organizations such as BioTalent Canada and EcoCanada.
- NSERC Undergraduate Student Research Awards (USRA) : $4,500 towards the cost of hiring an undergraduate student in a university research setting in the natural sciences and engineering.
- NSERC Experience Awards: A cost-sharing program providing $4,500 towards a 12 to 16 week work term for natural sciences and engineering undergraduate students working in a research capacity in industry.
- OCE Smart Seed Fund: Young entrepreneurs aged 18 to 29 years from across the province of Ontario with technology or innovation based start-ups can earn up to $35,000 in funding.
- Ontario Innovation Tax Credit: 10% refundable tax credit, up to $300,000 per year. For Ontario corporations that hire students for scientific research and experimental development.
- Scientific and Experimental Development Program: 20% to 35% investment tax credits. For Canadian corporations that conduct scientific research and experimental development.
- Northern Ontario Heritage Fund Corporation: List of programs which provide funding for existing and growing sectors in Northern Ontario.
- Export Market Access: A Global Expansion Program: Grant coverage up to 50% of eligible costs. For operations at least 2 years old, with 5-500 employees and minimum annual sales totaling $500,000.
- Mitacs: Globalink Partnership Award: A $15,000 research grant in the Canadian professor’s name to support student travel and accommodation expenses, research-related expenses, and student stipend.
- College and Institutes Canada Clean Tech Internship: If your business is in the science, technology, engineering or mathematics fields, you may be eligible to hire an intern for a new environmental or clean tech position or project. Awards a wage subsidy of up to $15,000.
- Science Horizons - Youth Internship Program: The Science Horizons Youth Internship Program is a wage subsidy initiative to help recent graduates in science, technology, engineering, or mathematics (STEM) acquire work experience in STEM positions with an environmental focus. The program provides up to a maximum of $15,000 in wage subsidies to help employers hire the talent they need and help recent STEM graduates gain skills to secure full-time employment in environmental STEM fields.
- Talent Edge Internship Program: OCE provides a $10,000 contribution for a project-based internship with a clearly defined R&D component.