$63M in federal funding for 11 new centres of excellence

Ottawa, ON – The federal government has announced it is providing $63 million in funding to establish 11 new Centres of Excellence for Commercialization and Research. Each of these centres will receive a one-time contribution of up to $14.95 million to carry out their work over five years.

Jim Prentice, the minister of industry, made the announcement on February 14, and said that the new centres will be expected to advance research and commercialization of technologies, products and services. In addition, they will bring together partners and top researchers from the academic, private and public sectors. He added that over the next five years they will be making their mark in priority areas where Canada has the potential to become a global leader, including health, energy and natural resources.

The minister did not provide any specific details about the centres being created, and the text of the his speech can be viewed at http://www.ic.gc.ca/cmb/welcomeic.nsf/cdd9dc973c4bf6bc852564ca006418a0/85256a5d006b9720852573f0005b918f!OpenDocument.