$2B fund to help Canadian schools upgrade research and innovation infrastructure

Canada's minister of innovation, science and economic development says now is the time for universities across the country to let the government know what kinds of upgrades their campuses need.

Navdeep Bains says Ottawa is ready to hand out money through its newly unveiled post-secondary institutions strategic infrastructure fund.

The new fund will provide up to $2 billion for projects that will improve research and innovation infrastructure at post-secondary institutions and related research and commercialization organizations.

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"With these investments, universitiesand colleges across Canada will be able to repair, enhance, build or expand research and innovation infrastructure,"Bains said Thursday, during a visit to Western University, where he was promoting the fund that was announced in the recent federal budget.

The fund will provide up to 50 per cent of the costs for eligible projects and Bains saidthere is no cap on what a single project can receive.

"There is no maximum amount, but we're going to be looking at how these funds are distributed across the country in different institutions and also focusing on colleges as well,"Bains said Thursday.

"So we're going to be looking at it holistically from all those different aspects and really making sure that there's solid proposals, good merit associated with them, and more importantly that they're shovel-ready."

Bains said these projects will help put better facilities in place at these institutions, but they will also have economic benefits for local communities.

"That's really key,"said Bains. "Because it's about growth and development within the region as well. And I'm talking about good-paying, middle-class jobs that our economy needs."

The minister said the government wants to have all qualifying proposals in its hands by May 9.