ECO Canada — Student Work Placement Program
Highlights
This program is perfect for your business because it offers substantial financial support to help you grow and succeed. You can receive up to $5,000 in funding to cover 50% of a student's wages for a placement lasting between 6 to 16 weeks. This funding can be used for both full-time and part-time positions, providing flexibility to meet your business needs.
Key Benefits:
- 50% wage coverage up to $5,000
- Flexible placement duration from 6 to 16 weeks
- Support for both full-time and part-time roles
By participating, you gain access to talented students in Science, Technology, Engineering, Art, Math (STEAM), and Business fields. This not only helps you fill immediate staffing needs but also allows you to invest in the future of your industry. The application process is straightforward, and once approved, you can start recruiting and benefiting from the wage subsidy.
Financing Details
Type of Financing: Wage Subsidy
Repayment Terms and Interest Rates:
- There are no repayment terms or interest rates associated with this wage subsidy.
Eligible Expenses:
- Wages for student placements.
- Full-time or part-time positions lasting 6 to 16 weeks.
- Positions must be related to Science, Technology, Engineering, Art, Math (STEAM), or Business fields.
Ineligible Expenses:
- The funds cannot be used for expenses unrelated to the student's wages.
- The subsidy does not cover costs for equipment, materials, or other non-wage expenses.
Fees:
- There are no fees associated with applying for or receiving this wage subsidy.
Qualifications
- Must be a Canadian-owned business or a Canadian subsidiary.
- Must be a business of any size.
- Must be able to provide a placement of 6 to 16 weeks.
- Must ensure the student completes a minimum of 180 hours.
Must be willing to cover 50% of the student's salary, up to $5,000.
Disqualifications:
- Municipalities, governments, and post-secondary institutions.
Description
This program offers your business a fantastic opportunity to grow. You can receive up to $5,000 in funding to cover 50% of a student's wages. This funding can be used for full-time or part-time placements, ranging from 6 to 16 weeks, with a minimum of 180 hours.
Benefits include:
- Financial Support: Get 50% of a student's wages covered, up to $5,000.
- Flexible Use: Use the funds for full-time or part-time placements.
- Skill Development: Hire students in Science, Technology, Engineering, Art, Math (STEAM), and Business fields, bringing fresh talent and ideas to your team.
This program is designed to help you manage costs while providing valuable work experience to students. It's a win-win for your business and the next generation of professionals.
Program Steps
Complete the Online Application:
- Visit the program's official website.
- Fill out the online application form with your business details.
Prepare Required Documentation:
- Gather the following documents:
- Business registration or incorporation documents
- Financial statements (balance sheet, income statement)
- Business plan
- Details of intended use of funds (e.g., quotes for equipment or renovation costs)
- Any other documentation specified in the application guidelines
- Gather the following documents:
Submit the Application:
- Upload the prepared documents to the online application portal.
- Review your application to ensure all information is accurate and complete.
- Submit the application.
Await Confirmation:
- You will receive an email confirmation once your application is received.
- The program administrators will review your application and documentation.
Respond to Additional Requests:
- Be prepared to provide additional information or clarification if requested by the program administrators.
Approval Notification:
- If your application is approved, you will receive an official notification via email.
- Review the approval details, including any terms and conditions.
Sign Agreement:
- Sign any required agreements or contracts.
- Return the signed documents within the specified timeframe.
Receive Funding:
- Once all agreements are signed and returned, the funds will be disbursed according to the program's schedule.
- Use the funds as outlined in your application.
Complete Reporting Requirements:
- Throughout the funding period, you may need to submit progress reports or financial statements.
- Ensure timely submission of all required reports to remain in compliance with the program guidelines.