Funding will expand Tech Talent acceleration efforts for Canadian businesses and students
Mississauga ON,, April 27, 2022 (GLOBE NEWSWIRE via SEAPRWire.com) — TECHNATION, Canada’s leading national tech industry association, today announced it has received $60 million of additional support for its national Career Ready Program, funded by the Government of Canada’s Student Work Placement Program (SWPP). This is in addition to a grant provided by the Government of Canada in October 2021 of $70M provided to expand the Program’s reach, $87M to enhance program support during the pandemic – and the initial grant of $15.5 million in 2017, totaling more than $230 million in overall funding.
To date, TECHNATION has provided over $100 million to Canadian businesses and non-profits across Canada through the Career Ready Program, and more than 20,000 students and over 7,000 employer partners have benefitted from student work terms. Almost one third of these organizations have used the Career Ready Program more than once.
The Career Ready Program has proven especially beneficial to Canadian employers managing through the pandemic. The majority of employers – 85 per cent of which are Canadian small and medium-sized enterprises (SMEs) – have turned to students as much-needed and skilled resources at minimal cost. It’s not just tech companies who are eligible for the funding, and students don’t have to work in traditional tech roles like IT, cybersecurity, and software engineering. A variety of roles which have been digitized have been rising in the program, such as marketing, finance, project management, and many other interdisciplinary/hybrid jobs.
Hiring a student for a work term is good business. Almost 100 per cent (99.5%) of employers believe these work placements have benefited their company; and because 84 per cent reported they would hire their students long-term after graduation, it becomes an effective recruiting solution.
Almost 100 per cent (99.5%) of all Career Ready Program funding applications are accepted, and within just 10 days. Ninety-one per cent of participating employers confirmed their students were qualified for an entry-level position at their company after their work placement.
Launched in 2017, the Career Ready Program supports businesses through financing students for limited work terms. The Program provides 50 per cent (to a maximum of $5,000) of a student’s pay in wage subsidies to employers; this subsidy is increased to 70 per cent (to a maximum of $7,000) for employers hiring students from under-represented groups. The subsidy can also be stacked with provincial subsidies—if you’re in British Columbia, Ontario or Nova Scotia, there’s a good chance employers can get 100 per cent of a co-op student’s salary covered.
- To learn more about the TECHNATION Career Ready Program, and to access toolkits, videos and guides click here.
- To get pre-qualified for a wage subsidy, visit the application portal.
“It’s imperative that Canada creates more inclusive paths to well-paying jobs in tech. Our Career Ready Program facilitates change by connecting talent to opportunity, addressing the skills, learning and credentials required for the jobs of today and the future, and investing in skilling initiatives that help Canadian businesses and academia to work together. Canada’s future tech leaders are today’s students, new entrants in the workforce, current jobseekers and many are found in under-represented groups (women, racialized people, persons with disabilities and Indigenous people). Ensuring a strong economic recovery depends on this approach and the additional funding for our Program will certainly go a long way to bridging Canada’s talent gap.”
- Angela Mondou, President and CEO, TECHNATION
“Our government is making sure that young Canadians have the training and tools they need to succeed in the job market. The work placements created by TECHNATION through the Career Ready Program will help thousands of students grow professionally. By developing their technical skills, students are laying the foundation for successful careers now and into the future.”
- Minister for Women and Gender Equality and Youth, Marci Ien
About the TECHNATION Career Ready Program
TECHNATION is a catalyst for digital transformation in Canada and strongly believes in the need to transform and expand the nation’s expectations of who can work in tech. Its Career Ready Program aims to attract students from underrepresented groups, including women in STEM, Indigenous students, newcomers to Canada and individuals with disabilities. TECHNATION also believes in changing expectations of where people need to live to work in tech. The Career Ready Program is doing that by cultivating new relationships with co-op offices in Quebec, Atlantic Canada, the Prairies and the North. Along the way, TECHNATION is breaking down barriers for them to access the program. The Career Ready Program is available to students currently enrolled in studies at a post-secondary level. Employers interested in participating in the program may qualify if they provide a meaningful and encouraging work opportunity in a range of tech-immersive roles. This program is funded by the Government of Canada’s Student Work Placement Program (SWPP).
TECHNATION is the industry-government nexus for technology prosperity in Canada. As a member-driven, not-for-profit, TECHNATION unites Canada’s technology sector, governments, and communities to enable technology prosperity in Canada. TECHNATION champions technology prosperity by providing advocacy, professional development and networking opportunities across industry and governments at all levels; connecting Canadian scale-ups with global tech leaders; engaging the global supply chain; and filling the technology talent pipeline.
TECHNATION has served as the authoritative national voice of the $230 billion ICT industry for over 60 years. More than 44,000 Canadian ICT firms create and supply goods and services that contribute to a more productive, competitive, and innovative society. The ICT sector generates more than 671,100 jobs and invests $8.0 billion annually in R&D, more than any other private sector performer. For more information: www.technationcanada.ca. TECHNATION was formerly the Information Technology Association of Canada (ITAC). www.technationcanada.ca
CONTACT: Sarah Coombs TECHNATION Canada 416-729-8550 firstname.lastname@example.org