Venture for Canada — Internship Program

Up to $7,000

Funding Type

WAGE SUBSIDIES AND INTERNS

Application Difficulty

MEDIUM

Time To Complete4 weeks

Application DeadlineJuly 05, 2024

Program Budgetno cap

Highlights

This program is designed for businesses like yours to grow and thrive. By participating, you can hire talented, driven students who are ready to contribute from day one. Receive up to $7,000 in wage subsidies per intern, making it easier to bring fresh talent into your team without straining your budget.

Key Benefits:

Financial Support: Up to 70% wage subsidy, capped at $7,000 per student per term.
Flexible Internships: Choose part-time or full-time, with remote work options available.
Streamlined Process: Fast approval, simple digital forms, and minimal paperwork.

By integrating VFC-trained interns, you gain access to a diverse pool of candidates from over 108 universities and colleges across Canada. These interns come with entrepreneurial training, ensuring they can start adding value to your business quickly. The program is easy to qualify for and designed to meet the needs of small and medium-sized businesses.

Financing Details

Type of Financing: Wage Subsidy

Repayment Terms and Interest Rates:

There are no repayment terms or interest rates. This is a non-repayable wage subsidy.

Eligible Expenses:

The wage subsidy can be used to cover:
- Intern salaries.
- Payroll taxes.
- Other direct costs associated with employing the intern.

Ineligible Uses of Funds:

The funds cannot be used for:
- Overhead costs.
- Equipment purchases.
- Any expenses unrelated to the intern's wages and direct employment costs.

Fees:

There are no fees associated with applying for or receiving this wage subsidy.

Program Steps

Complete the Information Form:
- Fill out the initial information form to confirm your business is a good fit.
- You will receive a link to the full application.
Attend an Employer Onboarding Session:
- Participate in a webinar where the team will answer questions and provide recommendations.
- Attendance is mandatory to align expectations.
Prepare Documentation:
- Gather necessary documents, including:
  - Business registration details.
  - Proof of business address.
  - Financial statements.
  - Job description for the internship position.
  - Proof of payroll system.
Find a Student:
- Post your internship opportunity on the VFC Bulletin Board.
- Alternatively, hire a student you know, ensuring they meet the program’s eligibility criteria.
Submit Hiring Request Form:
- Complete and submit the Hiring Request form to confirm your funding.
- This step includes verifying the eligibility of the student and the job details.
Receive Funding:
- Funding is distributed in two parts:
  - The first half within 45 days of the intern’s start date.
  - The second half within 45 days of the internship completion.
Intern Training:
- VFC provides ongoing training for interns to develop key skills.
- This training helps interns contribute effectively to your business.
Hire Again:
- Once eligible, you can skip initial steps for future hires.
- Some conditions may apply; refer to the program details for more information.

Qualifications

Must be a small or medium-sized business, start-up, social enterprise, nonprofit, or charity.
Must be registered in one of the following Canadian provinces or territories: BC, AB, SK, MB, QC, NB, NS, PE, NL, YT, NT, or NU.
Must employ fewer than 500 people.
Must provide a safe and supportive internship that develops innovation or entrepreneurial skill-building opportunities.
Must pay interns a minimum wage of $15.00/hour or higher via payroll.
Interns may work full or part-time for the organization.
Work from home and remote internships are supported, with virtual supervision and coaching.
Disqualifications:
- Businesses based exclusively in Ontario.
- Government departments and crown corporations.
- Credit unions.
- Post-secondary institutions.
- International students.
- Recent graduates.

Description

This program offers your business a great opportunity to hire talented interns and receive financial support. You can get up to $7,000 in wage subsidies for each eligible intern. This money helps cover their wages, making it easier for you to bring new talent into your team.

What can the money be used for?

Paying the intern's wages (minimum $15/hour)
Supporting either part-time or full-time internships
Allowing for remote work options with proper supervision

Conditions of the money:

The subsidy covers 50-70% of the intern's wages.
The first half of the subsidy is paid within 45 days of the intern starting.
The second half is paid within 45 days of the internship ending.

Why is this beneficial for your business?

Cost savings: Reduce your payroll expenses with government support.
Access to trained talent: Interns come with entrepreneurial training, ready to contribute from day one.
Flexible hiring: Choose part-time or full-time interns based on your needs, with easy and fast approval processes.

This program is designed to make it easier for you to hire and integrate new talent, helping your business grow while minimizing costs.

Visit Program Website