Canada Foundation for Innovation approves $450 Million Investment for Fourth Innovation Fund Competition

October 21, 2002

Ottawa, October 21, 2002 -- Today, Dr. David Strangway, President and CEO of the Canada Foundation for Innovation (CFI) announced the launch of a Call for Proposals for the Fourth Innovation Fund Competition. The CFI’s Board of Directors has approved an allocation of $450 million for this competition which is open to all eligible universities, colleges, hospitals and not-for-profit research institutions. It builds on the $1.32 billion investment provided in the first three competitions.

“Canada’s research community requires state-of-the-art infrastructure to tackle research that is increasingly multidisciplinary,” said Dr. Strangway. “This competition will help to create new ideas that will ultimately benefit Canadians from all walks of life.”

“Supporting innovation at the local level so that our communities continue to be magnets for investment and opportunity is what today’s announcement is all about,” said Industry Minister, Allan Rock. “Supporting world-class research will lead to ground-breaking discoveries right here in Canada and will help ensure that Canada is one of the world’s most innovative countries.”

“Canada’s researchers have made extraordinary contributions in science and innovation both here in Canada and around the world," said Rey Pagtakhan, Minister of Veterans Affairs and Secretary of State (Science, Research and Development). “They will help to make Canada one of the top five countries in research and development performance by 2010.”

The Innovation Fund enables institutions, alone or in groups, to strengthen their research infrastructure in all areas, including the social sciences and humanities. Over the past four years, the CFI has invested close to $2 billion in research infrastructure at universities and research institutions across the country. Applications will undergo an independent and rigorous review by expert committees. Recommendations will then be made to the CFI Board of Directors, who will then make the final decision on funding for each project at its February 2004 meeting.

The CFI is an independent, not-for-profit corporation established by the Government of Canada in 1997 to strengthen the capacity for innovation in Canadian universities and research institutions. The CFI has been entrusted with a capital investment budget of $3.15 billion and contributes 40 per cent towards eligible project costs, with universities identifying the remaining 60 per cent matching funds.

For further information: 

Douglas Lauriault
Public Affairs
Canada Foundation for Innovation
(613) 996-3193
douglas.lauriault [at]
Selena Beattie
Office of Allan Rock
Minister of Industry
(613) 995-9001