HAMILTON, ONTARIO--(Marketwire - Dec. 19, 2012) - Up to 86 recent graduates and graduate students in McMaster University's faculties of science and engineering will receive valuable internships with southern Ontario businesses thanks to a new Government of Canada investment of $1,133,000. The investment was announced today by David Sweet, Member of Parliament for Ancaster-Dundas-Flamborough-Westdale, on behalf of the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).

"Our government is committed to creating jobs, growth and long-term prosperity for southern Ontario," said MP Sweet. "This investment will help McMaster's young scientists and engineers to get the professional experience, mentorship and business skills they need as they develop into the next generation of leaders in business and innovation."

The investment is being provided through FedDev Ontario's Graduate Enterprise Internship (GEI), which provides funding for not-for-profit organizations and post-secondary institutions to arrange internship and mentoring opportunities for recent graduates and graduate students of science, technology, engineering and mathematics (STEM) programs with small- and medium-sized enterprises.

"The FedDev GEI program will create an important bridge for recent graduates from the Faculty of Science who wish to enter the workforce," said Dr. Peter Sutherland, Acting Dean of the Faculty of Science, McMaster University. "The internship model will allow our students an opportunity to complement their academic training with relevant work experience and it will give employers access to new talent with cutting edge skills."

McMaster University's science and engineering faculties place approximately 700 students in co-operative education work terms each year. FedDev Ontario's investment will allow the university to place up to an additional 86 recent graduates and graduate students in the fields of science and engineering at small- and medium-sized businesses in the region, providing them with access to job opportunities in their fields.

"We are proud of what our McMaster graduates bring to the marketplace," said Art Heidebrecht, Acting Dean of the Faculty of Engineering. "We are very grateful to the Federal Economic Development Agency for Southern Ontario. The Graduate Enterprise Internship program will kick-start the professional careers of young McMaster graduates in science and engineering, and will help build the next generation of leaders in innovation."

For more information on the Graduate Enterprise Internship and McMaster University, please refer to the backgrounder.

Created in 2009, FedDev Ontario supports the southern Ontario economy by building on the region's strengths and creating opportunities for jobs and economic growth. The Agency has launched a number of initiatives to create a Southern Ontario Advantage and place the region in a strong position to compete in the global economy. These initiatives are designed to encourage partnerships and support projects that help the region's businesses and communities become more competitive, innovative and diversified. To learn more, please visit www.FedDevOntario.gc.ca or call 1-866-593-5505.

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This news release is available online at: www.actionplan.gc.ca.

Backgrounder

Graduate Enterprise Internship

McMaster University

FedDev Ontario is providing McMaster University with a contribution of up to $1,133,000 to place up to 86 recent graduates and graduate students of science, technology, engineering, and mathematics (STEM) programs in internships with small- and medium-sized businesses in southern Ontario.

The project will allow private sector business leaders to pass on their knowledge and business skills to young people pursuing STEM studies and careers in southern Ontario, and help develop the next generation of leaders in business and innovation. The businesses will benefit from the infusion of skills and training that these young people offer, spurring innovation and new ideas in their firms. This will help equip the region to meet future labour market needs.

Graduate Enterprise Internship

The Graduate Enterprise Internship provides funding for eligible not-for-profit organizations and post-secondary institutions in southern Ontario to arrange internships with structured business mentoring opportunities in southern Ontario small- and medium-sized enterprises for graduate students and recent graduates of STEM programs. Only organizations with established track records and currently delivering internship placements for STEM students or graduates are eligible.

Eligible applicants may receive a non-repayable contribution towards an intern's salary of up to $15,000 per six-month internship for a graduate student or recent graduate of a master's or doctoral-level STEM program and up to $10,000 for a recent graduate of an undergraduate STEM program or a college program at the advanced diploma level, as well as delivery costs to manage the internships. The host SME must contribute a minimum of 50 per cent of the intern's salary and benefits.

For more information, please refer to the initiative guidelines available on the website at www.FedDevOntario.gc.ca.