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$1.5 Million Funding to Boost Small Business Access to Global Supply Chains

Western Economic Diversification Canada, a federal government agency, announced $1,562,000 in funding to Mitacs, which will support economic growth and facilitate high-value partnerships between multinational enterprises (MNEs) and small businesses in Western Canada.

Mitacs is a national organization that manages and funds research and training programs for undergraduate, graduate students and postdoctoral fellows in partnership with universities, industry and government in Canada.  It has worked with over 3,000 companies on 10,000 projects across Canada, focusing on helping leading-edge SMEs grow by linking them into the global innovation supply chains of research-intensive multinational companies.

Mitacs will use the funding to create an initiative called Mitacs Converge, which will help support partnerships between MNEs and innovative Canadian small and medium enterprises (SMEs) and academic institutions. At the same time, Mitacs Converge will help small businesses access global supply chains, existing customers and global export markets.

The Mitacs Converge initiative will work with MNEs to identify their research and development challenges and invite SMEs to submit proposals describing how they would address the identified industrial research challenge. Through this process, Canadian companies will gain access to new markets and opportunities for their innovative products and services.

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