$2-billion fund will create jobs, expand research and innovation

/EINPresswire.com/ -- HAMILTON, ONTARIO -- (Marketwired) -- 04/08/16 -- Innovation, Science and Economic Development Canada

Canada's post-secondary institutions are at the forefront of excellence in science, research and innovation. They help to train the workforce of tomorrow and create the knowledge and insights needed by the private and public sectors to build a clean, sustainable economy.

The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, was at McMaster University today to highlight the benefits of the new $2-billion Post-Secondary Institutions Strategic Investment Fund for improving research and innovation infrastructure at universities and colleges across the country.

Announced in Budget 2016, the Fund will enhance and modernize research facilities on Canadian campuses and improve the environmental sustainability of these facilities. Consultation with the provinces and territories as well as work to implement the initiative as quickly as possible are already under way.

The targeted, short-term investments under the Fund will promote economic activity across Canada and help Canada's universities and colleges develop highly skilled workers, act as engines of discovery and collaborate on innovations that help Canadian companies compete and grow internationally.

Quotes

"Canada's post-secondary institutions are front-line agents in fostering science and research excellence. They help to train the workforce of tomorrow and create the knowledge and insights necessary for the private sector and policy makers to build a thriving, clean economy. These investments will create good, well-paying jobs that can help the middle class grow and prosper today, while also delivering economic growth for years to come."

- The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development

"This Government of Canada investment in our universities is important and appreciated; it will have real results for our students, researchers and communities. McMaster shares the Government's commitment to sustainable growth and innovation and is thankful for this much-needed opportunity."

- Patrick Deane, President and Vice-Chancellor, McMaster University

Quick facts

--  The Post-Secondary Institutions Strategic Investment Fund supports the
    Government of Canada's climate change objectives by encouraging
    sustainable and green infrastructure projects.
--  The Government of Canada will cover up to 50 percent of a project's
    eligible costs. The remaining funding will come from other partners,
    including provincial and territorial governments and the institutions
    themselves.
--  The program will support projects that:
--  improve the scale or quality of facilities for research and innovation,
    including commercialization spaces;
--  improve the scale or quality of facilities for specialized training at
    colleges focused on industry needs; and/or
--  improve the environmental sustainability of research- and innovation-
    related infrastructure at post-secondary institutions and college
    training infrastructure.
--  Applications are due by May 9, 2016.

Associated links

- Post-Secondary Institutions Strategic Investment Fund website

Follow Minister Bains on Twitter: @MinisterISED

Contacts:
Philip Proulx
Press Secretary
Office of the Minister of Innovation,
Science and Economic Development
343-291-2500

Media Relations
Innovation, Science and
Economic Development Canada
343-291-1777
ic.mediarelations-mediasrelations.ic@canada.ca

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