Examining the federal government’s investment in research and innovation.
April 18, 2024 By Bill Flanagan
Released two days ago, the Government of Canada’s Budget 2024: Fairness for Every Generation contains a major boost in new research funding, which is excellent news for the post-secondary sector in Canada. Budget 2024 commits $1.8 billion in new funding over the next five years, with $748.3 million per year in ongoing funding, to Canada’s three major research granting agencies: Social Sciences and Humanities Research Council (SSHRC), Natural Sciences and Engineering Research Council of Canada (NSERC) and Canadian Institutes of Health Research (CIHR). This substantial increase in funding is great news for the talented faculty, students and post-doctoral fellows who rely on these grants to fund their innovative work. Last year, the U of A’s researchers received over $147.7 million from these three agencies. An increase in available grants will provide more research opportunities across all faculties.
In a great win for graduate students and post-doctoral fellows, the federal budget includes $825 million over five years, with $199.8 million annually ongoing, to increase the value of student scholarships. Funding for master’s and doctoral students increases from $27,000 to $40,000 annually, and scholarships for post-doctoral fellows will rise to $70,000. There is also a $30 million investment to support Indigenous participation in research. These investments will make a real difference in the lives of many of our students and postdoctoral fellows at the U of A, who rely on these scholarships to cover their living expenses.
Budget 2024 included major investments in AI, including $2.4 billion to help Canadian researchers and start-ups grow within Canada and compete internationally. This funding includes a five-year investment of $200 million to help AI start-ups bring new technologies to market and accelerate AI adoption in critical sectors. With U of A ranked among the top three institutions globally for AI research, these investments will open up even more opportunities for our university.
These funding increases are crucial for Canada’s universities and researchers. As I have written before, Canada is at risk of brain drain. Significant investments in research will keep talented researchers in Canada and attract talent from abroad. Research grants and federally funded scholarships will support the development of the next generation of highly qualified talent, building a better future for all Canadians.
Bill Flanagan
President and Vice-Chancellor
