The primary goal of the MCE Co-op Subsidy is to increase the number of co-op students placed in a startup and entrepreneurial environment with the goal of stimulating entrepreneurial interest among the student body and presenting entrepreneurship as a viable career option. A secondary goal is to provide startups in Newfoundland and Labrador with easier access to engineering and business students to take advantage of their skill sets and further their organization.
The MCE Co-op Subsidy will contribute to a co-op student’s salary (up to a maximum of $6,600 per semester). Organizations willing to take advantage of this subsidy are required to contribute 30% of the student’s salary. Please note that this subsidy does not cover expenses related to mandatory employment contribution expenses (MERC) such as E.I., C.P.P., vacation pay and workers’ compensation. As well, organizations receiving funding from any other program cannot take advantage of this subsidy.
The standard length of a work term is 14 weeks, with a minimum of 12 weeks and maximum 18 weeks. For the business faculty, the minimum length of a work-term is 14 weeks.
For your organization to be eligible for the MCE Co-op Subsidy, it should be a startup in Newfoundland and Labrador that meets the following requirements:
- Maximum of 10 employees
- Maximum of 5 years in existence
- Work term located in Newfoundland and Labrador
- Adequate facilities/accommodations for the placement
- A job description approval by the faculty’s co-op office is required
- Must demonstrate willingness to recruit an entrepreneurial student
For students to be hired with this subsidy:
- Must be enrolled in either Memorial’s Faculty of Engineering and Applied Science or Faculty of Business Administration’s co-operative education program
- Must be academically eligible to undertake a work term
- Must have shown entrepreneurial tendencies (community membership, entrepreneurial endeavors, …)
- Must be 16 years of age or older and must be eligible to work in Canada
- Must not be an immediate family member of any members of the applicant’s management team
How to Apply
Applications will first go through an initial screening that determines eligibility and then evaluated by the faculty’s co-op office. All eligible applications are reviewed in a competitive process where successful applicants will be determined based on:
- Job description and relevance
- Organizational context
- Qualified supervision
- Entrepreneurial exposure for students
- Recruitment process to ensure hiring of entrepreneurial students
In the event of an incomplete or ineligible application, you will be notified as soon as possible by the MCE Program Support Coordinator or an Academic Staff Member in Co-operative Education.
To apply, fill out the application form and send it to Daan Goossens at email@example.com.
Frequently Asked Questions
Can I combine this funding source with another source of government funding?
This co-op subsidy is not available for startups who already secured grants or funding for the specific co-op position.
Will I receive the funds upfront?
No, you will have to submit a reimbursement claim after each salary payment to the student (you can also combine multiple payroll cycles into one claim if that is easier on your end).