Digital Skills for Youth Program
Highlights
This program is designed for businesses like yours that are looking to enhance their digital capabilities. By participating, you can gain access to interns with advanced digital skills who are eager to apply their knowledge in real-world settings. This can be a significant boost to your operations, allowing you to leverage fresh talent and innovative ideas.
Why Apply?
- Access to Skilled Interns: Get interns who are trained in the latest digital technologies.
- Cost-Effective: The program helps cover the costs associated with hiring interns.
- Growth Opportunities: Enhance your digital presence and improve your business processes.
What's in it for You?
- Financial Support: The program provides funding to help you bring on interns without straining your budget.
- Talent Pipeline: Build a pipeline of potential future employees who are already familiar with your business.
- Easy Qualification: The program is designed to be accessible, making it straightforward for your business to qualify.
By being approved, you can significantly improve your digital operations, making your business more competitive and efficient. This program offers a unique opportunity to integrate new digital skills into your team with minimal financial risk.
Financing Details
Type of Financing: Wage Subsidy
Repayment Terms and Interest Rates:
- There are no repayment terms or interest rates. The wage subsidy does not need to be repaid.
Eligible Expenses:
- Salaries and wages for interns hired under the program.
- Employer contributions to Employment Insurance (EI) and Canada Pension Plan (CPP).
- Training costs for interns to enhance their digital skills.
Use of Funds:
- The funds can only be used to cover the costs associated with hiring and training interns.
- Funds cannot be used for general business expenses, capital purchases, or any non-internship-related costs.
Fees:
- There are no fees associated with applying for or receiving the wage subsidy.
Qualifications
- Must be a business looking for interns who want to apply their digital skills.
- Must be located in Canada.
Must be able to partner with one of the following delivery organizations:
- BioTalent
- Communautique
- Environmental Careers Organization Canada
- Independent Media Arts Alliance
- Lighthouse Labs
- Make A Change Canada
- Memorial University of Newfoundland
- PEI Cultural Human Resources Sector Council
- Pinnguaq Association
Disqualifications:
- Businesses not located in Canada.
- Businesses not looking for interns to apply digital skills.
- Businesses unable to partner with the listed delivery organizations.
Description
This program offers your business a chance to receive up to $1,000,000 in funding. You can use up to $500,000 of this amount to buy equipment or improve your rented space.
Eligible expenses include:
- Commercial kitchen appliances
- Manufacturing machinery
- Computers and IT infrastructure
- Renovating a retail space
For other costs like software or operational expenses, the program can provide up to $150,000.
Key benefits include:
- 85% of the loan is guaranteed by the federal government, giving you a strong safety net.
- Flexible repayment options: Choose between a variable interest rate, a fixed rate, or a combination of both.
- Extended repayment period: You have up to 15 years to pay back the loan, regardless of how you use the funds.
This program is designed to help your business grow and thrive with minimal financial risk.
Program Steps
Visit the Program Website: Go to the official program website to access the application portal and gather initial information about the process.
Register Your Business: Create an account on the program's application portal if you do not already have one. This will allow you to save your progress and receive updates.
Prepare Documentation: Gather the necessary documents required for the application. These typically include:
- Business registration documents
- Financial statements (e.g., income statement, balance sheet)
- Business plan
- Proof of digital skills training or initiatives
- Any other relevant certifications or licenses
Complete the Application Form: Fill out the online application form with accurate and detailed information about your business and its digital skills needs. Ensure all sections are completed and double-check for any errors.
Upload Required Documents: Upload the prepared documentation to the application portal. Make sure all files are clear and legible.
Review and Submit: Carefully review your application to ensure all information is correct and all required documents are attached. Submit the application through the portal once you are confident everything is in order.
Monitor Application Status: After submission, regularly check your account on the application portal for updates on the status of your application. Respond promptly to any requests for additional information or documentation.
Await Approval and Next Steps: Once your application is reviewed and approved, follow any further instructions provided by the program administrators. This may include signing agreements or attending an orientation session.