January 26th, 2015

If you own any kind of business, you likely know the value of bringing in someone with a fresh perspective to help revitalize your industry with new research and innovation. You should never become satisfied with the “but its always been done this way” answer. There is always a different way, and chances are very high that there is a better way as well.

Bringing in a new set of eyes provides you with an outsider’s view of how you are running your business. Sometimes this person’s contributions provide essential input and feedback that can help expand your visions and goals. That’s why bringing in a student with an Industrial Undergraduate Student Research Award (IUSRA) can prove a major benefit to your industrial business.

These students help stimulate research in the natural sciences and engineering, gaining valuable work experience in their field to boost their future careers.

If you are interested in having a promising young mind assist your business, read this article to see if your company fits the criteria:

Eligible organizations

Prospective organizations hoping to apply for an IUSRA student must have completed an application, either new or renewal, for Eligibility of Organizations to Participate in NSERC’s IPS Program and IUSRA Program within the past three years (this is Form 183B).

Each branch, division, location, or individual subsidiary must fill out its own separate form when applying.

Organizations, by preference

The IUSRA accepts applications from private sector, for-profit organizations that are federally and provincially incorporated in the Canada, and who are conducting research and development at one of their facilities. It also considers for-profit organizations from the private sector that are not incorporated but are entirely Canadian owned, who are also conducting research and development. Consulting firms, engineering firms, and other enterprises without production facilities can also apply.

The IUSRA accepts some applications from provincial hydro or utility companies, or from start-up or spinoff companies that are not affiliated with any university and who are conducting research and development.

While there are some restrictions, the IUSRA also considers applicants from government-owned organizations operating as a regular for-profit enterprise, or ones that work on a cost-recovery basis.

Specific NSERC requirements

If your business falls within any of the above-mentioned categories, you are on your way to success. There are some additional requirements to consider, however:

All companies must engage in research and development activities pertaining to either the natural sciences or engineering, and they must have a proven record of positive results doing so.

As well, you must have the proper financial resources to fund the awardee, and provide them with right amount of supervision and support during their time with your organization.

 Specific IUSRA requirements state that all companies must have the appropriate research facilities for the awardee to work within, including the proper equipment and computers to do so. This might disqualify companies operating in a setting not seen as sufficiently industrial, such as a residence or a virtual workplace.

 Organizations are required to supplement this $4500 award by at least 25% of its value. Organizations will work with these students for a full sixteen weeks. This means that for the low price of roughly $1000 dollars, you can have one of the industry’s future leaders helping you improve your products and processes while gaining valuable experience themselves! This mutually beneficial opportunity is well worth your consideration. Contact our team at INAC services and we can get you started with your application for eligibility today.