In its latest budget, the Canadian government pledged $1.5 billion over a 10-year period to go toward university research that contributes to the country’s economic competitiveness, according to The Chronicle of Higher Education.
The money, which amounts to about 1.4 billion U.S. dollars, will be funneled through a newly created Canada First Research Excellence Fund.
The Association of Universities and Colleges of Canada said in a news release that the Canadian government’s investment would “position Canada as a world leader in research and innovation.”