Innovation Initiatives Ontario North (IION) – Entrepreneurship Development Program (EDP) (2022)

Description:

The Entrepreneurship Development Program (EDP) is a 16-week paid placement involving experiential and educational learning for high potential participants interested in innovation and entrepreneurship. It provides for-profit innovative companies with a competitive wage subsidy of $7,200.

Comments on Funding:

Funding is a wage subsidy of $7,200 to apply to the participant’s wage ($12/hour for 37.5/hours/week).

Funding is disbursed 50/50 as following:

  • the first payment ($3,600) in the first month of the placement,
  • the second half of the funding ($3,600) at the end of the placement when the final reporting documents have been submitted to IION.

The company must contribute a minimum of $1,200 ($2/hour for 37.5 hours per week for 16 weeks) to meet the provincial minimum wage of $14/hour.
Over the 16-weeks, the participant must be paid at a minimum of $8,400 (in regular hourly wages).

Eligibility:

Companies must:

  • be registered for-profit entities located in the districts of Nipissing, Timiskaming, Parry Sound or Muskoka;
  • be incorporated innovative companies (be creating economic value and growth through new or significantly improved products, processes or services)
  • not be businesses operating as distributors, resellers or wholesalers.

Participants must:

  • be legally entitled to work in Canada;
  • have an interest in learning about innovation and entrepreneurship;
  • agree to complete the 16-week placement and participate in the mandatory online professional development activities;
  • of any age.

The participants are expected to be full-time T4 employees of the company, working at a minimum of 37.5 hours a week for 16-weeks.

Other Things to Note:

Please note that the EDP is currently tapped out and is not accepting submissions. Please continue to check back for the latest updates.
When does EDP occur? Monday, May 3- Friday, August 20

COVID Related Measures:

IION’s Entrepreneurship Development Program (EDP) has made adaptations out of an abundance of caution due to COVID-19. We want to ensure we are doing everything we can to support your business during these unprecedented times. The following adaptions to ensure the health and safety of all parties involved in EDP are as follows:

  1. The mandatory professional development days will be done live, virtually, throughout the 16-week period via the Zoom platform. These days will be 7 half-day sessions in 4-hour timeframes. 
  2. Existing employees that have been hired in last 12 months that are being reassigned to a new project or product line within the business can be eligible as participants.
  3. Reminder that there is no longer the youth component to this program; any age is eligible to participate.

Testimonials:

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