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Prime Minister Stephen Harper today announced $1.5 billion in new funding to promote excellence within the U15 Group of Canadian Research Universities. The Canada First Research Excellence Fund (CFREF) will position Canada’s post-secondary institutions to compete with the best research universities in the world for leading scholars and students, and will generate breakthrough discoveries.

“This commitment by the Prime Minister and the Government of Canada to support globally competitive research excellence with an investment of $1.5 billion over 10 years demonstrates that they recognize that Canada can compete with the best in the world,” says Daniel Woolf, Vice-Chair of The U15 and Principal and Vice-chancellor, Queen’s University. “It’s now up to us to make sure that we make the most of it. Together with CFREF and other established funds and programs that support research excellence, we will strengthen and advance our standing as a world leader in science, technology and innovation.”

In 2013, The U15 proposed that the government of Canada invest in the creation of a new fund to bolster Canada’s research strength and promote global research excellence.

“Since its announcement in Budget 2014, The U15 has been looking forward to the official launch of CFREF as a significant commitment by Canada to support globally competitive research excellence,” says Feridun Hamdullahpur, chair of The U15 and president and vice-chancellor of the University of Waterloo. “This Fund will allow successful institutions to better compete on the international stage in established areas of research strength as well as new and emerging areas that will support Canada’s scientific standing and long-term economic advantage.”