Canada Foundation for Innovation Receives $500 million in Funding

February 19, 2003

Ottawa, February 19, 2003—The 2003 Federal Budget announced an increase of $500 million to the Canada Foundation for Innovation (CFI). To date, the Government of Canada has entrusted the CFI with $3.15 billion to strengthen the capability of Canadian universities, colleges, research hospitals, and other not-for-profit institutions to carry out world-class research and technology development. Yesterday’s announcement brings that total investment to $3.65 billion.

“This Government’s unwavering commitment to university research will benefit all Canadians,” said Dr. David Strangway, President and CEO of the CFI. “Today’s investments will stay the course in making our country an international leader for carrying out world-class research that will improve the quality of life for all of us.”

“Successful knowledge economy clusters around the world are centred around research institutions that feed talent, ideas, knowledge, and discoveries into surrounding industries,” said Dr. John Evans, Chair of the CFI Board of Directors. “The funding announced in the 2003 Budget brings Canada one step closer to reaching its goal of becoming one of the most innovative countries in the world.”

“This government created the Canada Foundation for Innovation to modernize the infrastructure of our universities. Already it has awarded research grants to more than 2,400 projects, almost half of them in the health sciences…We are increasing our investment in the Canada Foundation for Innovation by $500 million, specifically for the infrastructure needs of Canada’s research hospitals.”

The Honourable John Manley, P.C., M.P.
Deputy Prime Minister and Minister of Finance
The Budget Speech 2003—Tuesday, February 18, 2003

A list of projects approved by the CFI to date is available here.

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.

For more information:

Douglas Lauriault 
Canada Foundation for Innovation 
Tel: (613) 996-3193
cell: (613) 447-1723