Scotiabank and Mitacs Launch the Scotiabank Economic Resilience Research Fund

TORONTO,  January 18, 2021 /3BL Media/ - Scotiabank announced the launch of the Scotiabank Economic Resilience Research Fund in collaboration with Mitacs, a Canadian not-for-profit organization that operates research and training programs in partnership with academia, private industry and government.

Over the next three years, the Scotiabank Economic Resilience Research Fund will aim to increase the understanding of the factors that drive economic resilience in communities across Canada by underwriting graduate, doctorate, and post-doctorate research internships for students.

To be eligible for the Scotiabank Economic Resilience Research Fund, the student-led research-internship proposals must address the needs of a Canadian not-for-profit organization or charity partner, and demonstrate a focus on one of three key themes:

• Increasing high school graduation and post-secondary participation
• Accelerating newcomer integration
• Removing barriers to career advancement for disadvantaged groups

The Mitacs research internships will be awarded to students attending partner colleges and universities whose application is supported by a not-for-profit or charitable organization operating in Canada that will benefit most from their proposed research.

The Scotiabank Economic Resilience Research Fund will also prioritize proposals that focus on economic inclusion, stability and mobility for disadvantaged groups, in order to close the research gap and encourage more effective knowledge sharing of these topics among organizations.

"With Mitacs, Scotiabank will help to enable students, not-for-profit organizations and other researchers to collaborate and share knowledge in new ways," says Meigan Terry, Senior Vice President of Global Communications and Social Impact. "The goal of the Scotiabank Economic Resilience Research Fund is to reduce financial barriers to meaningful research in the not-for-profit sector and allow students to contribute to supporting economic resilience for Canadian communities."

Mitacs is currently accepting expression of interest from applicants interested in this funding opportunity. More details can be found on the Mitacs-Scotiabank proposal webpage.

"Over the past seven years, Mitacs and Scotiabank have partnered on many projects, and we are thrilled to launch our first call-for-proposals with the goal of helping community and not-for-profit organizations through our leveraged funding and network of research experts," says Dr. John Hepburn, Mitacs CEO and Scientific Director. The research, partners, and focus of the projects will help strengthen the ability of Canadian communities to increase the understanding and awareness that some under-represented groups experience in achieving financial sustainability and success.

Today's announcement follows Scotiabank's unveiling of ScotiaRISE, a 10-year $500 million initiative to promote economic resilience among disadvantaged groups. Through ScotiaRISE, Scotiabank will support programs and partner with organizations across its footprint that provide the tools people need to improve their education and employment prospects, adapt to changing circumstances, and increase the likelihood of financial success.

The $300,000 Scotiabank Economic Resilience Research Fund is one of the first financial commitments to be announced as part of the ScotiaRISE initiative.

In 2020, Scotiabank contributed nearly $85 million to communities globally, through donations, sponsorships and other forms of community investment.

For more information including submission eligibility and how to apply, please visit https://www.mitacs.ca/en/scotiabank-economic-resilience-research-fund.

About Scotiabank

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of over 90,000 employees and assets of approximately $1.1 trillion (as at October 31, 2020), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.

About Mitacs:

• Mitacs is a not-for-profit organization that fosters growth and innovation in Canada by solving business challenges with research solutions from academic institutions.
• Mitacs is funded by the Government of Canada along with the Government of Alberta, the Government of British Columbia, Research Manitoba, the Government of New Brunswick, the Government of Newfoundland and Labrador, the Government of Nova Scotia, the Government of Ontario, Innovation PEI, the Government of Quebec, the Government of Saskatchewan, and the Government of Yukon

SOURCE The Bank of Nova Scotia

For media enquiries only: Stephanie Cangelosi, Scotiabank, Stephanie.Cangelosi@Scotiabank.com, 416-816-5453; For application enquiries only: Rebecca Bourque, Mitacs, rbourque@mitacs.ca