Mitacs — Accelerate Entrepreneur
Highlights
This program is designed for you to grow your startup and bring your innovative ideas to market faster. Mitacs Accelerate Entrepreneur offers financial support to help you pilot, test, and refine your technology, product, or service. With internships valued at $15,000 each, you can optimize your budget and achieve your commercialization goals.
Key Benefits:
- Flexible and scalable project plans
- Financial support for piloting and testing
- Professional skill development through funded internships
Why Apply?
- Easy application process with evaluations completed in six to eight weeks
- Continuous support from Mitacs Advisors
- Access to top researchers and an extensive network of innovators
By participating, you can make significant strides in your startup’s journey, ensuring you get to market faster and more efficiently.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- No repayment required.
- No interest rates applicable.
Eligible Expenses:
- Piloting and testing new products, services, or technologies.
- Iterating and improving existing products, services, or technologies.
- Costs associated with internships, including stipends and research expenses.
Ineligible Expenses:
- General operational costs not related to research and development.
- Marketing and sales expenses.
- Any expenses not directly tied to the commercialization goals of the startup.
Fees:
- No application fees.
- No administrative fees.
Qualifications
- Must be a student or postdoctoral entrepreneur.
- Must hold ownership of an incorporated start-up.
- Must be responsible for the management and/or operations of the company.
- Must be actively housed at an approved incubator facility for the duration of the proposed project.
- Must have an academic supervisor at a Canadian academic institution who can hold and disburse the funding.
Start-up must be incorporated to receive funding.
Disqualifications:
- Consulting firms.
- Full-time employees with no ownership or responsibility for the company’s management and/or operations.
Description
This program offers your business a chance to grow and innovate. You can receive up to $15,000 per internship to support your startup. This money can be used to pilot test, refine, and commercialize new technology, products, or services.
Key benefits include:
- Financial Support: Each internship is valued at $15,000, helping you optimize your budget.
- Flexibility: Projects can start at four months and can be scaled up based on your needs.
- Professional Growth: Develop your research or technology and advance your professional skills.
The program is designed to support the unique needs of student and postdoctoral entrepreneurs. It targets critical stages in your startup's journey, such as piloting new products and improving existing ones. This is a great opportunity to make significant progress with financial backing and expert guidance.
Program Steps
Connect with a Mitacs Advisor:
- Reach out to your local Mitacs Advisor to start your application process. They can guide you through the requirements and help you with any questions.
Prepare Required Documentation:
- Gather the following documents to complete your application:
- Completed Mitacs Accelerate proposal form.
- Completed Mitacs Accelerate Entrepreneur COI Declaration Form.
- A letter of support from your host incubator facility.
- Intern CV (you may use Mitacs’s optional template).
- Any additional supporting documents required by your university or province.
- Gather the following documents to complete your application:
Develop a Research Plan:
- Work with your academic supervisor and partner organization to develop a detailed research plan. Ensure it aligns with the goals of your start-up and meets Mitacs's criteria.
Collect Required Signatures:
- Obtain signatures from all necessary parties, including intern(s), professor(s), partner contact, and the university Office of Research Services or equivalent.
Submit Your Proposal Package:
- Email your completed proposal package to your Mitacs Advisor. Ensure all required documents and signatures are included.
Peer Review and Evaluation:
- Your proposal will undergo a peer review process, which typically takes six to eight weeks. Be prepared to provide additional information or revisions if requested.
Receive Approval and Funding:
- Once your proposal is approved, Mitacs will forward the funds to your academic institution upon receipt of the partner contribution. Confirm the start date of your internship with all parties involved.
Start Your Project:
- Begin your project as planned, ensuring you follow all guidelines and maintain regular communication with your Mitacs Advisor, academic supervisor, and partner organization.
Monthly Status Meetings:
- Organize monthly status meetings to update all stakeholders on the progress of your project. Keep Mitacs informed of any significant developments or changes.
Complete Final Report:
- At the end of your project, complete a final report summarizing your research goals, techniques used, and outcomes. Submit this report to Mitacs EDGE no later than one month after the conclusion of the internship.
Exit Survey:
- Complete the Accelerate Intern Exit Survey. You will receive an email from Mitacs with the survey link shortly after you complete your internship.
Acknowledge Mitacs Support:
- Ensure all Mitacs-sponsored results are acknowledged with the statement: “This work was supported by Mitacs through the Mitacs Accelerate program.”