For businesses looking to strengthen their innovation capacity, bringing in new graduates can be a practical way to inject fresh ideas and up-to-date skills into ongoing projects. The Funding to hire young graduates program supports this need by helping Canadian companies offset part of the cost of employing young talent who can contribute to research, technology, and business development initiatives. Delivered nationally through the National Research Council of Canada’s Industrial Research Assistance Program (NRC IRAP), the program is designed to make it easier for businesses to take on additional talent while advancing innovation-focused work.
This support is particularly relevant for companies working on activities such as product or process development, engineering and multimedia projects, or market analysis tied to new or emerging technologies. By cost-sharing a portion of a young employee’s salary, the program reduces financial risk and allows businesses to pursue projects that might otherwise be delayed. Funding levels vary depending on the scope of the project, but assistance is non-repayable and tailored to the innovation goals of each business.
Open to businesses across Canada and applicable to a wide range of industries, the program is currently ongoing and works closely with NRC IRAP advisors to shape suitable projects. For business owners considering how young graduates could support their growth plans, learning more about how this funding works can help determine if it’s the right fit for their innovation strategy.
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