|
|
|
|
|
|
|||||
      
|
 |
Budget 1997 |
Fact Sheet
Investing in Long-Term Jobs and Growth: Canada Foundation for Innovation
Canadians know that, as they move into the 21st century, their economic well-being and quality of life will increasingly depend on innovation -- on the generation of new knowledge and the ability to use it productively.
Because excellence in education for young Canadians and global competitiveness for Canadian companies go hand in hand, the government is proposing the creation of the Canada Foundation for Innovation.
A new approach
The Foundation will be an independent organization, operating at arm's length from government, that will invest strategically in research infrastructure -- that is, the installations and equipment needed to carry out research -- at Canadian post-secondary institutions and research hospitals in the areas of health, the environment, science and engineering.
The Foundation will be comprised of members of the research community and the private sector and they, not the government, will be responsible for spending decisions. The Foundation will not support projects of government departments, agencies or Crown corporations.
Up-front investment
The federal government is making an up-front investment of $800 million to establish the Foundation. This will enable it to provide an average of $180 million annually to research infrastructure projects over the next five years.
Partnerships
Through partnerships among post-secondary institutions, research hospitals, the business community, voluntary organizations, individuals, and provincial governments wishing to participate, the Foundation will have the potential to generate up to $2 billion in investments in research infrastructure over the next five years.The Canada Foundation for Innovation will help
- enhance the capacity of Canadians to carry out leading edge research and participate in the knowledge economy;
- create opportunities for researchers to carry out their work in Canada;
- prepare young Canadians to take their place in the increasingly technology-oriented workforce;
- encourage collaboration and partnerships among research institutions and the private sector which are critical to making Canada competitive internationally in the years ahead; and
- lead to better jobs, innovations in health care and a cleaner environment.
- Budget Main Page -
|
|
||||
| Last Updated: 2004-03-18 |
|
||||
