Research Trust Fund Launched
Nova Scotia’s colleges and universities have a new source of funding for research infrastructure.
The $15 million Nova Scotia Research and Innovation Trust Fund was launched today to help the province’s researchers pursue projects with social and economic benefits in virtually any sector, from farming and the environment to patient care and high-tech industries.
The fund will help Nova Scotia’s research institutions to secure grants from the Canada Foundation for Innovation. If past trends continue, this fund has the potential to help research institutions acquire up to $85 million more from other sources. It may also invest in the establishment of an Atlantic genome centre and facilities for health and life sciences research.
"By helping research institutions to leverage significant investments, this fund is an important step in making Nova Scotia a key player in the knowledge economy," said Premier John Hamm. "It will help us to retain highly qualified research professionals and attract more to the province, pursue more projects and bring new products to the marketplace."
The Canada Foundation for Innovation was established by the federal government in 1997 with $3.15 billion to invest in research projects across the country by 2010. It provides 40 per cent of infrastructure costs for quality research projects; research institutions must then secure the remaining funds from other government sources and the private sector.
A federal-provincial program in Nova Scotia has provided $10 million to date to support these projects. This program is nearly fully committed. The new trust fund will ensure that Nova Scotia can meet the immediate need to match the foundation’s investments.
"This fund is a prudent investment that will have a lasting, positive effect on Nova Scotia’s economy," said Education Minister Jane Purves. "It will also further our higher education system’s international reputation for quality professors and state-of-the-art equipment that foster student learning."
The fund is part of government’s commitment to access more federal dollars for research and innovation as outlined in the province’s economic growth strategy, Opportunities for Prosperity. It will be managed by an administrative body comprising all Nova Scotia university and college presidents and three government representatives.
Launched today at Saint Mary’s University, the fund will contribute to research projects in a wide variety of disciplines. Projects in Nova Scotia currently funded by the Canada Foundation for Innovation range from environmental clean-up to pediatric pain and from improving blueberry growth to developing survival suits.
"This provincial government support for research is welcome and confirms the critical role research plays in the future of Nova Scotia," said Dr. Colin Dodds, president of Saint Mary’s University. "With the acquisition of the latest equipment and resources, our researchers will be able to leverage other funding, increase contract research and develop more partnerships among our universities, research institutes, colleges, hospitals and the private sector. The resulting capacity-building and research critical mass will permit Nova Scotia to remain nationally and globally competitive in the dynamic and exciting knowledge-based economy."