Mitacs — Elevate
Highlights
This program is designed for businesses like yours to foster innovation and growth. By partnering with Mitacs, you gain access to top researchers and flexible project plans tailored to your needs. This collaboration can turn your ideas into impactful solutions, giving you a competitive edge.
Key Benefits:
- Access to top researchers: Collaborate with leading experts to drive your projects forward.
- Flexible project plans: Tailor the program to fit your specific business needs.
- Co-investment in talent: Mitacs helps fund the talent you need, optimizing your budget.
Why Apply?
- Boost innovation: Leverage cutting-edge research to stay ahead in your industry.
- Expand your network: Connect with a diverse community of innovators and potential partners.
- Financial support: Benefit from co-investment opportunities that reduce your financial burden.
Qualifying for this program is straightforward, making it an excellent opportunity to enhance your business's capabilities and achieve long-term success.
Financing Details
Type of Financing: Grant
Repayment Terms:
- No repayment is required. This is a non-repayable grant.
Eligible Expenses:
- Salaries and stipends for researchers and interns.
- Equipment and materials necessary for the project.
- Travel expenses related to the project.
- Costs associated with publishing and disseminating research findings.
Ineligible Expenses:
- General operational costs of the business.
- Capital expenditures not directly related to the project.
- Personal expenses of the business owner or employees.
Fees:
- There are no application or processing fees associated with this grant.
Qualifications
- Must be a business operating in Canada.
- Must be involved in innovation, research, or technology sectors.
- Must be willing to collaborate with researchers, academia, or government entities.
- Must have a budget for research and development projects.
Must be interested in creating pathways to innovation.
Disqualifications:
- Businesses not operating in Canada.
- Businesses not involved in innovation, research, or technology.
- Businesses unwilling to collaborate with researchers, academia, or government entities.
Description
This program offers your business a chance to receive up to $1,000,000 in funding. You can use this money to hire skilled researchers, develop new products, or improve existing ones. This can help you stay competitive and innovative in your industry.
Here’s what you can use the money for:
- Hiring researchers or experts
- Developing new products or services
- Improving current products or services
The funding is provided as a loan, but you don’t have to pay it back immediately. You have a flexible payback period, which can be tailored to your business needs. This means you can focus on growing your business without immediate financial pressure.
Why this program is valuable:
- Access to top talent: Hire skilled researchers to drive innovation.
- Product development: Create or improve products to stay ahead of competitors.
- Flexible repayment: Tailor the payback period to suit your business’s financial situation.
Program Steps
Register Your Business on the Mitacs Portal: Visit the Mitacs website and create an account for your business. This will allow you to access the application forms and other resources.
Prepare Required Documentation: Gather the necessary documents to support your application. These typically include:
- Business Plan
- Financial Statements (last two years)
- Project Proposal
- Resumes of Key Personnel
- Letters of Support from Partners or Stakeholders
Complete the Application Form: Fill out the application form available on the Mitacs portal. Ensure all sections are completed accurately, including details about your business, the proposed project, and expected outcomes.
Submit the Application: Once the application form and all required documents are ready, submit them through the Mitacs portal. Double-check that all information is correct and that all documents are attached.
Follow Up on Your Application: After submission, monitor your email and the Mitacs portal for any updates or requests for additional information. Respond promptly to any inquiries from Mitacs to ensure a smooth review process.
Review and Approval: Mitacs will review your application. This may involve discussions or requests for further details. Be prepared to provide additional information if needed.
Sign the Agreement: If your application is approved, you will receive an agreement outlining the terms and conditions of the program. Review the agreement carefully, sign it, and return it to Mitacs.
Project Implementation: Once the agreement is signed, you can begin implementing your project. Ensure you follow the guidelines and timelines specified in the agreement.
Reporting and Evaluation: Throughout the project, maintain regular communication with Mitacs and submit any required progress reports. At the end of the project, provide a final report detailing the outcomes and impacts of the project.