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Build Your Research Team: Everything You Need to Know About Mitacs Grants

Mitacs is one of the many coveted grants among Canadian businesses. If you’ve found your way here, you likely already know that Mitacs is a well-regarded non-profit organization that provides grant funding for innovation. Most importantly, the program exists to drive research and development (R&D) through the collaboration between academia and industry. And, as your go-to grant resource, we’re here to share the must-knows about this funding program so you can determine if it is right for you. 

This comprehensive guide explains Mitacs grants, exploring the various programs, eligibility criteria, application process, and the immense benefits they offer Canadian businesses of all sizes. Whether you’re seeking funding as a well-established business or are a burgeoning startup, Mitacs grants can be the key to unlocking your innovation potential and propelling your business towards success.

To read more, check out The Ultimate Guide to Funding Your Innovation Projects.

Table of Contents

What is Mitacs? 

Mitacs is a well-founded not-for-profit organization that propels Canadian innovation through partnerships. Mitacs’ work is funded by the Government of Canada and along with provincial governments.

Ultimately, Mitacs Canadian innovation, fostering partnerships between universities, businesses, and the government to drive economic growth and support a higher quality of life for Canadians. The organization was developed to achieve this mission through a suite of programs including grants, fellowships, and internships. In practice, Mitacs offers financial support specifically for collaborative research projects, bridging the gap between businesses, universities, and top researchers. 

Why Consider a Mitacs Grant? 

Key Benefits of Mitacs Funding Programs

For businesses to stay competitive in today’s market requires innovation, forward-thinking, and an ability to move quickly to meet market demands. These same Canadian businesses of all sizes have one key issue in common: access to talent (and capital!) to support growth. In many instances, the growth of an organization is contingent on the talent on its team. 

With talent being one of the most impactful elements in business growth, it’s no wonder that hiring grants can be a key driver in the growth of an organization. 

For our Ultimate Guide on Hiring Grants Click Here!

Here’s why pursuing a Mitacs grant can be a worthy undertaking within your growth plan:

  • Access to Top Talent: Partnering with the best minds is crucial for success. Mitacs grants connect you with a pool of talented graduate students and researchers, injecting fresh perspectives and expertise into your projects.
  • Cost-Effective R&D: If research and development is a key part of your business, you know that it can also be a significant financial burden. Mitacs grants provide valuable funding, helping you stretch your R&D budget further and invest in your next groundbreaking idea.
  • Fast-Track to Market: Mitacs grants close the gap between research and commercialization. By accelerating the development process, you can get your innovative solutions to market faster and capitalize on emerging opportunities.

If expanding your talent pool is a key objective for your business, check out our Hiring Grants Power Session webinar.

How Mitacs Works

One of the benefits of Mitacs is their co-investment model. This means they share some of the financial burden of the research project with the participating business and university by way of funding key talent (aka, your people!). This focus on collaboration empowers businesses to explore new ideas, develop innovative solutions, and ultimately accelerate the commercialization of their discoveries. 

Here’s a breakdown of the ways in which Mitacs makes research more accessible for companies, especially for early-stage ventures.

Grants: These provide crucial financial support for collaborative research projects between businesses and universities.

Fellowships: This program helps companies access top-tier researchers (typically graduate students or postdocs) to work on specific research projects.

Mitacs Internships: Similar to fellowships, Mitacs internships connect businesses with undergraduate or graduate students for shorter-term research projects.

The core of Mitacs’ approach is fostering collaboration. They connect businesses with universities that have the specific expertise needed for their project. This allows companies to leverage academic knowledge and resources they might not have in-house.

By participating in Mitacs programs, businesses gain access to top researchers, expertise, and financial support. This collaboration can lead to the development of innovative solutions, accelerate commercialization of discoveries, and ultimately contribute to Canada’s knowledge-based economy.

A Closer Look at Key Mitacs Programs

Mitacs offers a diverse range of programs tailored to specific needs and research areas. Here’s a closer look at its popular programs that can benefit your Canadian business:

Mitacs Accelerate

While not a traditional full-funding grant, Mitacs Accelerate offers a valuable co-funding option for R&D projects that leverage academic expertise. Its focus is to pair businesses with researchers (postdocs, PhD, Masters, and even college students) at Canadian universities to tackle specific R&D projects. Ultimately, Mitacs Accelerate fosters collaboration between graduate students (masters and PhD) and industry partners. It can be a cost-effective way to access top talent and advance your company’s innovation goals.

  • Funding Breakdown: Mitacs provides a funding contribution of $7,500 per internship unit, with a matching requirement from the partnering organization. Amounts vary depending on project details and student level. The total funding value can range from $15,000 to $30,000, making it a cost-effective way to access top academic talent. It’s important to remember that this program emphasizes industry co-investment, so grant size may not cover all project costs.
  • Project Duration: Mitacs internships range from 4-6 months, with students typically spending half the time at the business and half at the university. Businesses can have multiple interns working on a project over a longer timeframe (up to 12 internships for PhD students).
  • Benefits:
    • Businesses gain access to top academic talent and expertise for R&D.
    • Students receive valuable real-world research experience.
  • Application Process: Ongoing application cycle, but peer review takes 6-8 weeks, so factor that into your planning!
  • Additional Considerations:
    • Program availability may be limited in some provinces (check the Mitacs website for specifics).
    • Businesses need to identify a suitable research partner (university) before applying.

Mitacs Accelerate Fellowship

If your business needs a longer research project through the Mitacs Accelerate program, the Fellowship option allows for extended collaboration with Master’s and PhD students. The Mitacs Accelerate Fellowship program acts as a funding extension for Mitacs Accelerate program with a focus on Master’s and PhD students.

  • Funding Breakdown:
    • Similar co-funding structure as Mitacs Accelerate (business contribution + Mitacs matching funds).
    • Funding amount depends on project details and student level.
  • Project Duration: Extends the Mitacs Accelerate program for Master’s and PhD students, allowing for longer-term research projects (internships can be extended beyond the standard 4-6 months).
  • Benefits:
    • Businesses gain access to top academic talent for extended research projects.
    • Students receive a longer-term research experience.
  • Application Process: Applications are submitted through the standard Mitacs Accelerate program.
  • Additional Considerations:
    • Availability may be limited depending on program availability in your province.
    • Businesses need to identify a suitable research partner (university) before applying.

Mitacs Accelerate International

Mitacs Accelerate International offers an option for businesses seeking international research expertise and collaboration. However, additional considerations for international logistics and costs are important factors. This grant offers partial co-funding for international research collaborations. More specifically, Mitacs Accelerate International is designed to pair Canadian businesses with researchers from international universities for collaborative R&D projects.

  • Funding Breakdown:
    • Similar co-funding structure as Mitacs Accelerate (business contribution + Mitacs matching funds).
    • Funding amount depends on project details and student level.
    • Additional considerations for international collaboration costs may apply.
  • Benefits:
    • Businesses gain access to international expertise and resources for R&D.
    • Students receive valuable international research experience.
  • Application Process: Ongoing application cycle, but peer review takes 6-8 weeks.
  • Additional Considerations:
    • Program availability may be limited in some provinces (check the Mitacs website for specifics).
    • Requires identifying a suitable research partner at an international university.
    • Additional costs associated with international collaboration may apply.

Mitacs Elevate

Mitacs Elevate offers substantial co-funding for extended research projects with a commercialization focus. It’s ideal for businesses seeking highly qualified researchers for longer-term R&D initiatives. Mitacs Elevate is for extended research projects with strong industry mentorship. Projects must have a clear commercialization path and strong industry mentorship is required. Fellows spend at least 50% of their time working on-site at the business partner.

  • Funding Breakdown:
    • Businesses contribute financially.
    • Mitacs provides matching funds of $60,000 per year, for a total of $120,000 for the project.
    • A minimum stipend of $55,000 per year is allocated to the fellow, with up to $5,000 for research costs.
  • Project Duration: This program pairs Master’s and PhD students with businesses and universities for longer-term (2-year) research projects with a strong commercialization focus. 
  • Benefits:
    • Businesses gain access to highly qualified researchers for extended projects.
    • Students receive industry experience and advanced research training.
  • Application Process: Ongoing application cycle, but competitive selection process.
  • Additional Considerations:
    • Program targets projects with a strong commercialization focus.
    • Businesses need to provide significant financial contribution and mentorship.

Mitacs Business Strategy Internship (BSI)

The Mitacs Business Strategy Internship (BSI) offers a cost-effective way for businesses to access talented undergraduate students and gain fresh perspectives on strategic challenges. It’s a win-win situation for both businesses and students, promoting innovation and practical learning. If you’re thinking of applying, be sure that you project has a focus on practical business strategy challenges and innovation activities, such as marketing strategy, business operations planning, or intellectual property (IP) development.

    • Funding Breakdown:
      • Businesses contribute financially.
      • Mitacs provides a grant of $10,000 or $15,000 per intern, with the full amount going towards the intern’s stipend.
      • Businesses have flexibility to choose between a higher stipend or allocate some funding for project expenses under the $15,000 option.
  • Project Duration: Pairs undergraduate students with businesses to work on short-term (4-month) innovation projects related to business strategy.
  • Project Focus: Projects should focus on practical business strategy challenges and innovation activities, such as marketing strategy, business operations planning, or intellectual property (IP) development.
  • Benefits:
    • Businesses gain access to fresh perspectives and research skills of undergraduate students for strategic initiatives.
    • Students receive valuable work experience in a business setting, developing skills relevant to their field.
  • Application Process: Ongoing application cycle, but peer review takes 6-8 weeks. Businesses need to collaborate with a university to identify a suitable student candidate.
  • Additional Considerations:
    • Program targets short-term business strategy projects, not core research activities.
    • Businesses need to provide a clear project focus, mentorship, and a stimulating work environment for the intern.

The Mitacs website offers a comprehensive program directory, allowing you to explore the full spectrum of Mitacs programs and find the perfect fit for your specific research needs and business goals.

Mitacs Program Eligibility: Who Can Apply for a Mitacs Grant?

Eligibility criteria vary by program, but generally, to be eligible for a Mitacs grant, your business must be based in Canada and collaborate with a Canadian university or research institution. Additionally, some programs might have specific research focus areas or citizenship requirements for student researchers.

The Mitacs Grant Application Process: A Step-by-Step Guide

Even though the Mitacs application process can be done by business owners themselves, some leaders choose to invest in additional support to ensure a strong application and maximize their approval chances. This is where companies like Pocketed come in. Our grant writers specialize in Mitacs applications, helping you navigate the process efficiently and craft a compelling proposal that increases your chances of success.

Mitacs Application

The Mitacs application process generally involves the following steps, but it’s crucial to consult the specific program guidelines for the most up-to-date and detailed information:

  1. Prepare and Find Your Academic Partner: Connect with a Canadian university or research institution with expertise relevant to your research
  2. Project Development: Together, an organization, intern, and supervisor from the institution collaborate to establish a research project.
  3. Identify the Right Program: Carefully explore the Mitacs program directory to find the program that best aligns with your research project, business goals, and eligibility criteria.
  4. Develop a Compelling Research Proposal: This is the heart of your application. The proposal should clearly outline your research project, objectives, methodology, expected outcomes, and how it aligns with the Mitacs program goals.

Crafting a Winning Research Proposal for Mitacs

There are many factors that contribute to a proposal that a funder won’t say no to. Pocketed’s intelligent matching platform and grant writing experts leverage our knowledge of both implicit and explicit requirements that a project requires. After that, we dive into writing the proposal! Here’s an overview of the key components that make up a robust proposal for Mitacs funding programs. 

  • Problem Statement: Clearly define the problem your research project aims to address.
  • Literature Review: Demonstrate your knowledge of existing research in the field and how your project builds upon it.
  • Methodology: Explain the research methods you plan to use and their justification.
  • Project Timeline: Outline the proposed timeline for your research project, including key milestones.
  • Budget Breakdown: Detail your project budget, including how Mitacs funding will be used alongside any matching funds from your organization.
  • Communication Plan: Explain how you plan to share your research findings with the academic community and relevant stakeholders.

Building a Strong Team to Support Your Mitacs Project

If you couldn’t tell by now, Mitacs projects involve collaboration between businesses and universities – and collaboration can’t happen without a team. 

In the context of Mitacs projects, a strong team ensures you have the necessary expertise from both sides; businesses can bring practical industry knowledge and challenges, while universities contribute academic research skills and theoretical understanding. This blend is crucial for tackling complex research questions and ensuring the project has real-world applications.

Here are a few steps to consider when you’re assembling your team for a Mitacs project:

  • Identify Key Personnel: Outline the team members involved in the project, highlighting their qualifications and expertise. This should include the student researcher(s), faculty supervisor at the partner institution, and any relevant personnel from your company.
  • Secure Letters of Support: Strong letters of support from the faculty supervisor and potentially industry experts can significantly enhance your application. These letters should validate your research project’s merit and your team’s capabilities.
  • Meet Deadlines and Follow Instructions: Pay close attention to application deadlines for the specific program you’re applying to. Thoroughly review all application guidelines and ensure your proposal adheres to the format and required elements.

Straight From Pocketed: Additional Tips for Success

We get it – if only funding program applications could be simple. While we know it takes hard work, there are many actions you can take to make the whole process go a lot smoother. Here’s some important tips to keep in mind that will help support the success of your application: 

  • Start Early: The Mitacs application process takes time and effort. Begin researching programs and developing your proposal well in advance of the deadline.
  • Seek Guidance: Don’t hesitate to reach out to our team here at Pocketed, Mitacs program advisors or your university partner for guidance and support throughout the application process.
  • Highlight Innovation and Commercialization Potential: Clearly demonstrate how your research project aligns with Mitacs’ focus on innovation and has the potential for commercialization.
  • Proofread and Edit: Ensure your application is free of errors in grammar, spelling, and formatting. A polished presentation reflects well on your organization.

Partner with Pocketed: Streamlining Mitacs Grant Applications

Understanding and navigating the Mitacs grant process can seem daunting. Pocketed is here to help! Our team of experts has extensive experience in guiding Canadian businesses through the process of identifying suitable Mitacs programs, developing winning proposals, and managing successful research projects.

Mitacs Grants as Catalysts for Innovation

The Mitacs grant program isn’t just about funding – it’s about driving remarking growth through innovation for Canadian businesses. With Mitacs, you hire talent including researchers, students, and industry experts, who all work together to bridge the gap between theoretical research and practical application.

While the goal of this guide is to provide you with the essential information you need to navigate Mitacs funding program, remember, you don’t have to go do it alone. Pocketed grant specialists can be your partner along the way! Between our intelligent matching platform and our experts, we’ll help you craft a winning proposal and secure the funding you need to fuel your R&D initiatives.

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