Scientists and Engineers in Business – Backgrounder

Scientists and Engineers in Business will improve business and management skills required to create new, successful companies and meaningful career opportunities in science, technology, engineering and mathematics (STEM) in southern Ontario.

Scientists and Engineers in Business will foster a higher success rate for start-up enterprises by supporting promising entrepreneurs as they launch their businesses. FedDev Ontario will contribute funding to not-for-profit organizations to administer and/or provide:

• Business skills development such as training workshops, conferences, peer networks and other learning opportunities focusing on skills needed for STEM entrepreneurs to start a business; and,
• Seed financing and/or advisory and support services to help entrepreneurs launch STEM-related businesses.

Who Can Apply?

• Not-for-profit organizations, including research institutions, commercialization centres, business incubators, industry and professional associations, and other not-for-profit corporations dedicated to the development of STEM entrepreneurs;
• Community Futures Development Corporations; and
• Post-secondary institutions (for commercialization fellowships only).

Eligible Costs

FedDev Ontario will reimburse up to 50 percent of the recipient organization's direct eligible costs, up to $35,000 per STEM entrepreneur, through non-repayable contributions to not-for-profit organizations (not including post-secondary institutions).

The initiative will also provide up to $30,000 to post-secondary institutions to support up to 50 percent of the cost of commercialization fellowships directed at assisting recent STEM graduates and graduate students commercialize their innovations and start high-technology firms.

If you are interested in expanding your programming for graduate students or recent graduates of STEM programs and would like more information about Scientists and Engineers in Business, visit FedDev Ontario online at: www.feddevontario.gc.ca