Mitacs programs are supported jointly by provincial, territorial, and federal governments and agencies, organizations, and academic institutions within Canada, as well as governments and academic institutions overseas.
The Board of Directors has fiduciary responsibility for all Mitacs operations. The Board works closely with the Mitacs executive and leadership teams to ensure the overall success of Mitacs in achieving its mission and vision. The Mitacs Research Council is responsible for overseeing the research integrity of all Mitacs programs on behalf of the Mitacs Board.
The Mitacs Board of Directors
- Consists of arms-length directors as well as the Mitacs CEO
- Has members primarily drawn from industry with additional members from Mitacs partner academic institutions
- Has committees which include audit and finance, HR and compensation, executive, research, and governance, each of which has a charter to guide their activities
- Has fiduciary responsibility to approve Mitacs business plans and budgets
- Provides guidance on the management and direction of the strategic plans and objectives of Mitacs
The Board of Directors, the Executive Management Team, and the Senior Management Team of Mitacs are committed to prudent, sound corporate governance.
Managing Costs – Revenues & Expenditures
- Mitacs programs and activities are, by their very nature, entrepreneurial. As a key outcome of its programs is to increase business investment in research and development and innovation activities in Canada, Mitacs deploys business development resources, which are critical to achieving this goal. As a result, partner organizations have invested approximately $373 million in research and development activities through Mitacs over the past 11 years.
- Mitacs is committed to keeping overhead costs low and to maximizing the impact of funding received.
*Mitacs administration costs include all peripheral administration costs that are often accounted for independently in other programs, including organizational management, policy, communications, evaluation etc.