WHO IT'S FOR
Designed to empower and support the next generation of entrepreneurs currently enrolled in post-secondary institutions, this unique program bridges the gap between academic learning and real-world business experience. This opportunity provides financial support, expert mentorship, and a collaborative platform, all crucial for cultivating a new wave of entrepreneurs ready to make their mark in the business world.
In partnership with Mitacs, successful applicants will have the exclusive opportunity to secure a matching grant of $7,500, effectively doubling their available resources to a total of $15,000 (full details and eligibility below).
WHAT YOU'LL DO
Dive into market research and expert marketing strategy to turn your startup dreams into reality. Uncover key market insights, identify future customers, and make your business not just desirable but achievable!
Success requires an investment: $7,500+GST by April 1, 2024, to qualify for a $7,500 matching stipend, less admin charges*. The total $15,000 less admin charges* is payable in installments from May 1 to Aug 31, 2024. Gear up for a transformative journey where dedication meets financial commitment for entrepreneurial triumphs.
- Regular, 1:1 coaching sessions with the Executive in Residence (EIR) assigned to your PSI
- Weekly programming in market research, strategy, and other topics for the founder journey**
- Ongoing Supports (as needed): Meetings with Academic Advisors, Intros/Connections, Office Hours
- Final Showcase on Aug 20.
*Admin charges vary by post-secondary institution.
**Set, weekly programming is tentatively scheduled, and customizable with support from your EIR. See FAQs further below for more information.
Objective 1: Market Know-How 🌐
You’re putting on your detective hats! First up, you’ll be diving into the world of your future customers. You want to know:
- What bugs them? 🤔
- How do they behave in the market? 🕵️♂️
- What’s the competition up to? 🚀
All this data becomes your superhero cape, helping to figure out the best game plan for making and delivering an awesome product or service.
Objective 2: The Marketing Magic 🚀
Now, let’s talk strategy! You’re going to:
- Pin down who to talk to – your target buddies. 🎯
- Set the goals and dreams for marketing adventures. ✨
- Peek at what the competition is up to, and drop your own mic-worthy value proposition. 💪
- Craft killer content and hit the best platforms to shout out about your fantastic products or services. 📢
Objective 3: Reporting Rollercoaster 📊
Let’s be the storytellers of success! You’ll be whipping up:
- Fancy marketing reports to see where you’re rocking and where you can level up. 🚀
- The grand finale – a double feature of your market research report and marketing strategy document*. 🎬
*The format may vary and can be discussed with your EIR.
Important Dates
- Now until Feb 23 2024 — Application Deadline EXTENDED: Open call for students to apply
- By Mar 1, 2024: Student selections made
- April 1, 2024: Successful applicants provide $7,500 + GST investment
- May 1, 2024 – August 31, 2024: Program period
- August 20, 2024: Final Showcase
OUTCOMES
By the end of this adventure, you’ll be the superheroes of startup strategy! 🚀
Behold the results:
- Rock-Solid Foundation: Your startup groundwork? Executed flawlessly. Your business skills? Elevated to new heights.
- Financial Uplift: Secure a matching $7,500 stipend on top of your initial commitment for a total of $15,000 less admin charges*, delivered in installments between May 1 and Aug 31, 2024.
- Networking Mastery: Form connections with industry pros and fellow grant recipients, benefit from personalized 1:1 coaching, and gain access to expert advice during Office Hours with Dentons and MNP. Witness the transformation unfold!
*Admin charges vary by post-secondary institution.
HOW TO APPLY
Ready to dive into the startup fun? Here’s your map:
- Express Your Interest: We encourage you to meet with your institution’s Executive In Residence for any questions you may have – tell us you’re in! Successful applicants will need to provide a commitment of $7,500 + GST and admin charges by April 1, 2024.
- Timeline Tumble: Check out the important dates listed above in case you missed them. From meetings to selection to the epic internship period (May 1 – August 31).
- Apply, Apply, Apply: Your entrepreneurial journey starts with a click! Submit your application through one of the provided links below, based on which PSI you attend.
It’s time to ignite your startup spark! Don’t just dream it, BE it. Apply now and let’s make this summer a startup success story! 🚀✨
FREQUENTLY ASKED QUESTIONS
Who makes the decision?
This program is a partnership between Mitacs, Edmonton Unlimited and participating post-secondary institutions. Applications will be evaluated by a panel based on certain criteria as there are limited spots for participants. The panel consists of the academic advisor and Executive-in-Residence (EIR) assigned to your post-secondary institution, as well as a representative from Edmonton Unlimited and Mitacs.
What is the selection criteria?
The minimum criteria you have to meet is:
- Investment of $7,500 + GST and admin charges*
- You have or you represent a startup business (at any stage) and you will work on the startup full-time for the duration of this internship
- You are currently enrolled at one of the participating post-secondary institutions as a student (undergraduate, masters’, PhD, post-graduate) or post-doctorate fellow
- Applications will be evaluated by a panel based on certain criteria as there are limited spots for participants. Criteria includes: customer discovery and validation, your unique value proposition, your product/idea scalability and potential for growth, your coachability, and the overall founder readiness and dedication.
*Admin charges vary depending on your post-secondary institution.
What is the selection process?
Applications will be evaluated from February 1 – March 1, 2024. The Executive-in-Residence (EIR) assigned to your post-secondary institution may reach out for a 1:1 meeting as additional screening, to assess your application on the selection criteria. Successful applicants will be notified by March 1, 2024.
How many hours a week/day am I expected to be working?
You are expected to be working 20 hours per week over the duration of the program. This includes attending the content programming, 1:1 coaching sessions, using any other resources provided, all while working on your startup / the startup you’re representing.
What if I have summer plans, can I miss a week?
We understand that you may have some plans throughout the summer, or that emergencies come up. Please ensure that you let the program team know 1 week in advance* if you’ll be missing any sessions and decide to catch up on any missed material. (*or as soon as possible).
The goal is to feel supported throughout your internship and fully prepared to deliver the final reports. Successful completion of the program depends on meeting program objectives and final submissions of the final reports.
What’s the program like? Are there specific days/times I am expected to be in program sessions?
The program includes a regular 1:1 coaching session with your respective Executive-in-Residence (EIR), scheduled at a mutually agreeable time and cadence.
There will be set programming tentatively scheduled for Tuesday mornings – with sessions occurring either virtual, or in-person at Edmonton Unlimited. You’ll be expected to take part in the end of the program Final Showcase as well, tentatively scheduled for the morning of Tuesday, August 20, 2024.
At the start of the program, participants will meet with their respective Executive-in-Residence (EIR) to set up a custom plan for the duration of the program, including the set programming as well as any other support available.
You are also required to spend in-person time at Edmonton Unlimited and/or at your respective PSI for the duration of the program. The recommended expectation for in-person attendance is 3x/week.
What reporting is required of me?
There are two deliverables that you must complete by the end of the program: 1) a Market Research Report and 2) a Marketing Strategy Document. These will be put together using the research and work you conduct for the duration of the program. The format of these deliverables will vary – your Executive-in-Residence can advise on this, as you build out your plan.
Beyond this, we will require your brief participation in a Mitacs Post-Internship Survey and other post-program reporting – to meet the needs of our funders. We appreciate your commitment to this.
How do I get paid?
You must have the necessary completed paperwork and the $7,500+gst submitted to Edmonton Unlimited & Mitacs by April 1st to receive the matching funds of $7,500 less any admin charges.
From there, the post-secondary institution will administer the funds to you in installments on a regular basis throughout the program. Each institution has its own processes – please contact your Executive-In-Residence (EIR) to clarify the process.
I have to budget – when do I need to hand over the $7,500 + GST?
Your initial investment of $7,500+gst will be required by April 1, 2024. Each institution has its own processes – please contact your Executive-In-Residence to clarify the process.
Can I stack funding and contribute my $7,500 + GST through another grant?
Do students have to be full-time students? What about part-time students?
Students who are enrolled as full-time or part-time can apply.
What if I am an international student – am I eligible to participate?
Yes. As long as you have student status with a participating post-secondary institution, and you meet the selection criteria, you are eligible for this grant.
Please check on any additional stipulations as required by the government when it comes to your International Student status.
What if I graduate in 2024 – am I eligible to participate?
Unfortunately, if you are graduating during the program term (May 1 – August 31, 2024), you are not eligible for this program.
Does my business need to be a registered and/or an incorporated business?
No. Your startup can be at any stage, and you are not required to have a registered or incorporated business.
