Federal government announces $1.5 billion research fund

The University of Victoria welcomes today’s announcement of the federal government’s new Canada First Research Excellence Fund that will provide $1.5 billion to Canada’s universities to excel globally.

Attending the announcement in Markham, Ont., UVic president Jamie Cassels said the new funding will make it possible for the university to strengthen its international leadership in areas of research excellence that have a vital impact on society, as well as attract and retain outstanding faculty, students and staff.

“Today’s announcement represents a significant investment in Canada’s future by our federal government,” says Cassels. “By supporting the world-leading excellence and innovation in universities across the country, the new Canada First Research Excellence Fund will create opportunities and prosperity for Canadians.

“For UVic, it will mean the opportunity to compete for increased capacity to attract and retain top faculty and talented students and to promote further advances in priority research areas identified in the government’s Science, Technology and Innovation strategy. UVic is already recognized as a global leader in several of these - the environment, energy, health, information and communications, and advanced materials.”

Universities can submit proposals on their own or in collaboration with other institutions. Submissions will be reviewed by independent panels of international scientific experts as well as an arms-length selection board composed of leaders from the academic, public and private sectors.

Grants will be awarded on the basis of scientific merit, strategic relevance to Canada (including the potential for the research area to create long-term economic advantages for Canada), and quality of implementation plan.The inaugural competition will see Canadian post-secondary institutions vying for a total of up to $350 million in awards over seven years. Applications for this first competition will be due in March 2015. A second competition will be launched by 2016 at the latest.

The CFREF is part of the government’s updated science, technology and innovation strategy—Seizing Canada’s Moment: Moving Forward in Science, Technology and Innovation—also released today.

The strategy will be guided by four core principles: promoting world-leading excellence, focusing on targeted priorities, fostering partnerships and enhancing accountability.

More information about the CFREF can be found here and information on the renewed science, technology and innovation strategy can be found here.

The Association of Universities and Colleges of Canada welcomed the announcement as transformative. Read their comments.