Ottawa to announce $550M in funding for Canadian research projects

OTTAWA - Ottawa is expected to announce $552 million in funding for academic research projects this morning.

The federal government is set to name the projects getting funding through the Canadian Foundation for Innovation at an event at the University of Sherbrooke.

The money, distributed through the Innovation Fund, is being put toward dozens of research projects in life sciences, engineering and other fields at higher education institutions across Canada.

Funding competitions through the program are typically held every two years and are meant to help researchers acquire equipment, tools and labs for their studies.

One such project granted funding would give University of British Columbia researchers new tools related to quantum technology.

Another is for new underwater drones at Dalhousie University for monitoring marine life — research that has practical applications in conservation, fisheries management and infrastructure development.

This report by The Canadian Press was first published March 13, 2026.