Funded by FedNor and Ontario Trillium Foundation, IION’s Entrepreneurship Development Program (EDP) (formally known as the Youth Entrepreneurship Placement Program) is a 16-week paid placement involving experiential and educational learning for high potential participants interested in innovation and entrepreneurship.
IION-EDP provides for-profit innovative companies with a competitive wage subsidy of $7,200 to apply to the participant’s wage ($12/hour for 37.5/hours/week) nurturing and building the participant’s entrepreneurial capacity while increasing the SME’s ability to innovate and commercialize.
There are 3-core components to this program that participant must complete:
1) Hands-on learning: Participants are matched with an innovative company
2) Educational learning: Guided & structured entrepreneurial educational program
3) Experiential learning: 5-days of off-site personal and professional development activities
When does EDP occur?
The next cohort will start Monday, May 4th, 2020
IION-EDP FAQ for Companies
Companies
I am a business owner, is my business eligible?
The innovative applicant must be a registered for-profit entity located in the districts of Nipissing, Timiskaming, Parry Sound or Muskoka. Innovative companies are defined as creating economic value and growth through new or significantly improved product, processes or services. EDP is not applicable to businesses operating as distributors, resellers or wholesalers.
*All company & participant applications are subject to a competitive review process.
Does the company have to find a participant for the position?
Yes, it is the responsibility of the company to find a participant match. IION will aid in the promotion of the position and forward any potential candidates that apply to the program for a company’s consideration and vetting. It is strongly recommended that applications are submitted as early as possible to allow for potential matching.
*Current employees are not eligible to be participants. Participants cannot be related to the directors, officers or managers of the organization.
Is there an age requirement for the participant?
No, they can be any age to participate in this program.
What hours are the participants expected to work?
The participants are expected to be full-time T4 employees of the company, working at minimum of 37.5 hours a week for 16-weeks. If the participant misses work throughout the placement, it is the company and participant’s responsibility to schedule them in a way to make up those hours prior to the final date of the placement.
What is a match?
A company and participant pair is considered a match once both company and participant applications are received by IION. Matches must be made before the deadline in order to be considered by the selection committee.
During the placement, companies are expected to mentor the youth. What are the expectations and duties of the companies in this respect?
EDP is meant to be an introductory overview to entrepreneurship; IION will send companies a list of the topics that the participant will be learning such as financial statements and customer discovery. It is expected that the youth will be shown some of these aspects of the company through a meeting, a project or a conversation.
When are the mandatory key development activities?
There are three mandatory key development activities in which the participant must participate.
September 3: Ignition Day at Spirit Point Lodge in South River led by Tony Cox of Leaders of the Day.
October 7-9: Venture Camp at Spirit Point Lodge in South River; a 3-day professional development retreat with Leaders of the Day. Participants must stay on-site for the 3-days.
November 4: Professional Development Day: Workshop topics TBD
Does the company pay the participant while they are at the mandatory key development activities?
Yes, the company must treat the 5-days of off-site key development activities for the participants as paid workdays at (7.5 hours/day).
Does IION cover travel costs to attend key development activities?
No, IION does not cover travel costs for the participants to attend these activities. IION does offer a shuttle between North Bay and Spirit Point Lodge for Ignition Day and Venture Camp at no cost. It will be the participant’s responsibility to get to North Bay or Spirit Point Lodge (Trout Creek). Meals for the 5 days and accommodations for Venture Camp are covered by IION.
If successful, how does the funding work?
- Approved companies will receive a wage subsidy of $7,200 ($12/hour for 37.5 hours per week for 16 weeks) to help offset costs of the participant’s wage.
- The funding is disbursed 50/50. The first payment ($3,600) will be disbursed in the first month of the placement, the second half of the funding ($3,600) being disbursed 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). Successful companies must submit pay stubs throughout the program to show proof of payment.
- The company is responsible for the mandatory employment-related costs (CPP & EI and any other work-related fees, insurance, etc.).
Companies contact Sydney Hoffman/705-474-7600 ext. 5661/[email protected]
IION-EDP FAQ for Participants
What are the applicant & program requirements?
All participants must be legally entitled to work in Canada and have an interest in learning about entrepreneurship as a career and have an innovative spirit. Participants must agree to complete the 16-week placement with the matched company, the educational program outside of work hours (unpaid- 1 hour/week) and participate in the 3 mandatory activities (paid- 5 days off-site from the company)
Where do the placements take place?
Placements will occur with companies that are located in the districts of Nipissing, Timiskaming, Parry Sound or Muskoka.
Does the participant have to find a company for the position?
Yes, it is the responsibility of the participant to find a company match. If the participant does not have a company match, IION will forward the participant’s resume and application to companies that apply to the program; based on the identified preferences for location, field of interest and skill sets, for a company’s consideration and vetting. Applications that are complete and have a matched company identified will be sent to a selection committee. It is strongly recommended that applications are submitted as early as possible to allow for matching.
*Current employees are not eligible to be participants. Participants cannot be related to the directors, officers or managers of the organization.
What is a match?
A company and participant pair is considered a match once both company and participant applications are received by IION. Matches must be made in order to be considered by the selection committee.
What hours are the participants expected to work?
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. If the participant misses work throughout the placement, it is the company and participant’s responsibility to schedule them in a way to make up those hours prior to the final date of the placement.
What type of companies are eligible?
Companies must be innovative and be registered for-profit entities located in the districts of Nipissing, Timiskaming, Parry Sound or Muskoka. Innovative companies are defined as creating economic value and growth through new or significantly improved products, processes or services. EDP is not applicable to businesses operating as distributors, resellers or wholesalers.
*All company and participant applications are subject to a competitive review process.
What & when are the mandatory key development activities?
There are three mandatory key development activities in which the participant must participate.
September 3: Ignition Day at Spirit Point Lodge in Trout Creek led by Tony Cox of Leaders of the Day. This is an orientation day to go over the program specifics, meet the participants and the IION staff.
October 7-9: IION Venture Camp at Spirit Point Lodge led by Leaders of the Day. This is a 3-day professional development retreat where outdoor leadership activities are linked with core business and entrepreneurial skillsets which will provide participants with a foundation of networking, confidence, leadership, decision making, and teamwork skills. Participants must stay on-site for the 3-days and participate in all activities.
November 4: Professional Development Day: workshop topics TBD
Does the participant get paid for the three mandatory key development activities (5-days)?
Yes, the company must treat the 5-days of off-site key development activities for participates, as paid workdays (7.5 hours/day).
Does IION cover travel costs to attend key development activities?
No, IION does not cover travel costs for the participants to attend these activities. IION does offer a shuttle between North Bay and Spirit Point Lodge for Ignition Day and Venture Camp at no cost. It will be the participant’s responsibility to get to North Bay or Spirit Point Lodge (Trout Creek). Meals for the 5 days and accommodations for Venture Camp are covered by IION.
Can this placement count towards a co-op or other post-secondary credits?
It is highly recommended that the participant speak with their professors about the placement to see if there is a possibility for credits.
Participants contact: Sydney Hoffman/705-474-7600 ext. 5661/[email protected]
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