The government of Canada will be investing 73 million dollars to create 60,000 STEM student work placements over next 5 years via Student Work Integrated Learning Program. This was announced by the Minister for Employment, Labour, and Workforce Development Patty Hajdu. It is aimed at helping post-secondary students in Math, Engineering, Technology, Science and business programs to obtain work experience and be become better equipped for fields with high demand jobs.
The investment of 73 million dollars is aimed at creating more than 10,000 paid student work placements annually for next 5 years. It will bring out collaboration between post-secondary institutions in Canada and employers, as quoted by the Canadavisa.
Agreements will be signed with employer delivery partners. This includes accredited industry organizations and associations representing business interests in key sectors for STEM and Businesses.
One of the industry partners of the government Bio Talent said that 33% of the firms in Canada’s Biotechnology sector face the shortage of skilled workers. Moreover, 40% of the firms acknowledge that the shortages of skilled workers are influencing their success, irrespective of the size of the companies.
CEO and President of Bio Talent Rob Henderson said that offering opportunities to students while completing their degrees will strengthen bio-economy of Canada. It will reduce the gap between the academia and industry, added Henderson.
Employer delivery partners will deliver the program by working with post-secondary institutions. Wage subsidies for quality student work placements will be offered for qualified employers in STEM and businesses. These partners will cover up to 50% of the wage cost for student work placements. It will be up to 70% for students in first year and groups that are unrepresented.
If you are looking to Study, Work, Visit, Invest or Migrate to Canada, contact Y-Axis, the world’s most trusted Immigration & Visa Consultant.