Memorial Centre for Entrepreneurship – Co-op Subsidy Application Form
Company Name: Click here to enter text. Industry: Click here to enter text.
Location: Click here to enter text. Position Type: Co-op Term
Number of Click here to enter text. Years in Click here to enter text. employees: existence: Job Title: Click here to enter text. Salary: $ Click here to enter text.
Amount $ Click here to enter text. Own $ Click here to enter text. requested: Contribution: Start Date: Completion Date: Expected hours per week: Choose an item. From which co-op program do you propose to hire? Choose an item. Is the student being funded through other sources? Choose an item. Does an immediate family member of the student own or Choose an item. operate the business? Primary Contact Information Name / Title: Click here to enter text.
Address: Click here to enter text.
Tel: Click here to enter text.
Website: Click here to enter text. Job Description
1 Memorial Centre for Entrepreneurship – Co-op Subsidy Application Form
ORGANIZATION BACKGROUND
ROLE AND RESPONSIBILITIES
PLEASE OUTLINE THE SUPERVISION AND MENTORING THAT WILL BE PUT IN PLACE FOR THIS PLACEMENT:
2 Memorial Centre for Entrepreneurship – Co-op Subsidy Application Form
DESCRIBE THE STEPS YOU ARE PLANNING TO TAKE TO ENSURE YOU RECRUIT AN ENTREPRENEURIAL STUDENT:
CONTRACT SIGNATURES:
I certify that the information contained in this application is correct, and may be verified. (All benefits including vacation pay, employment insurance, Workers Compensation costs and Canada Pension costs, are understood to be the responsibility of the employer.) Date Applicant’s Signature
I agree that the attached work description represents a valuable/rewarding work term, and recommend that the application for wage subsidy be approved providing the student hired is academically eligible for the work term. Date Co-operative Education Co- ordinator’s Signature Please email this application to [email protected], subject “MCE: Co-op Subsidy Application – Company Name”.
3 Memorial Centre for Entrepreneurship – Co-op Subsidy Application Form
Co-op Subsidy
Background This co-op subsidy is a program of the Memorial Centre for Entrepreneurship (MCE), a joint effort between the Faculty of Engineering and Applied Science (FEAS) and Faculty of Business Administration (FBA). The mandate of the MCE is to catalyze the entrepreneurial ecosystem, connect existing elements and inspire students to consider entrepreneurship as a viable career option.
Subsidy Goals The goals of the MCE Co-op Subsidy are twofold: 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 To provide startups in Newfoundland and Labrador with easier access to engineering and business students and take advantage of their skill sets to further their organization
Funding The MCE Co-op Subsidy will contribute to a co-op student’s salary with 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.
This subsidy is only available for organizations wishing to hire co-op students from either the Faculty of Engineering and Applied Science or the Faculty of Business Administration. The conventional length of a work term is 14 weeks, with the minimum being 12 weeks and maximum 18 weeks. For the business faculty, the minimum length of a work-term is 14 weeks.
Sample scenarios: Total Work Term Salary 70% MCE Subsidy covers Employer Covers $6,000 $4,200 $4,200 $1,800 plus MERC $10,000 $7,000 $6,600 (Max. contribution) $3,400 plus MERC
Once the application has been approved, organizations will be reimbursed monthly after showing proof of payment (e.g. paycheck stub copies, copy of signed journal entry, etc)
Eligibility Requirements To be eligible for the MCE Co-op Subsidy, your organization 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 Job description approval by the faculty’s co-op office is required Must demonstrate willingness to recruit an entrepreneurial student
4 Memorial Centre for Entrepreneurship – Co-op Subsidy Application Form
Students that can be hired with this subsidy: Must be enrolled in one of Memorial University’s co-operative education programs 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
Approval of Applications Applications will first go through an initial screening that determines eligibility and will be evaluated by the faculty’s co-op office. All eligible applications will then be 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 Coordinator or an Academic Staff Member in Co-operative Education.
For more information on deadlines, please refer to www.mce.mun.ca.
Upon Application Approval Once the subsidy is approved, the organization has the option to post the job ad in the job competition. This job competition starts 3-4 months prior to the start of the work term. The procedure usually follows this sequence: 1. Job descriptions are advertised to student 2. Co-operative education offices will forward student applications to the employers for screening 3. Employers interview students 4. Employers rank students in order of preference. Students not considered suitable are not ranked 5. Offers are extended by the University starting with the employers’ highest ranking 6. Offers not accepted by students are normally advertised again in consultation with employers
Please note that the actual process may vary among both faculties. It is advised to reach out to an Academic Staff Member in Co-operative Education to ensure a smooth hiring process.
Unsuccessful MCE subsidy applicants can still hire students but are required to fund the salary by other means. It is advised to look at the several other funding programs such as SECPAP, IRAP, etc.
Roles of the Academic Staff Member in Co-operative Education and the Employer The co-op office communicates with employers about the hiring process, work-term requirements, and suitable work term positions. At all times, Academic Staff Members in Co-operative Education in the engineering and business faculties are available to discuss placement issues specific to their programs, and address any concerns to maximize the benefits for both the students and the organization.
5 Memorial Centre for Entrepreneurship – Co-op Subsidy Application Form
Approved organizations are expected to develop and maintain a work schedule for their work term student, inspect and evaluate student progress both in terms of work term objectives and the development of skills, etc. Approved applicants must return a completed employer's portion of an appropriate work term evaluation form (provided at the beginning of the work term) to the co-operative education institution at the end of the work term. The employer feedback on the student’s performance is very important to the student and to the success of current and future co-operative education experiences for students and employers.
Contact If you have any questions related to the hiring process or co-operative education regulations, please contact the appropriate office:
Faculty of Business Administration Tel: 709-864-4051 Email: [email protected]
Faculty of Engineering and Applied Science Tel: 709-864-8816/7488 Email: [email protected]
For any other questions or concerns please contact a MCE representative: Tel: 709-769-3455 Email: [email protected]
6