Big Budget Announcement for Canadian Scientists
Finance Minister Jim Flaherty recently announced the creation of the Canada First Research Excellence Fund which will inject almost $1.5 Billion into Canadian research over the next decade.
It is not currently known how the funding will be divided up, however, the flow of funds isn’t expected to start until 2015 and only $45 Million has been set to be released at that time. The eventual plan is that a steady state of $182 Million will flow into research on an annual basis.
The funds will likely be shared between Canada’s fifteen research-based universities and will be accessible to researchers via peer-reviewed competitions. Furthermore, the funds will not be allocated for capital spending, which will remain the purview of the Canadian Foundation for Innovation (CFI).
You can read the entire text of Minister Flaherty’s speech on CTV News