Federal Budget 2021 to strengthen Canada’s research, innovation and talent ecosystem
Fredericton, NB, Friday, April 23, 2021 – This week, the federal government released Budget 2021. The investments outlined will significantly advance Canadian health-related research and innovation, accelerating ground-breaking missions in critical public health areas like pandemic surveillance and precision medicine.
This week’s announcement included excellent news for New Brunswick’s long-term sustainable economic growth in health-related research, with over $1 billion being invested within Canada over the next four years including:
• $500 million over four years, starting in 2021-22, for the Canada Foundation for Innovation to support the bio-science capital and infrastructure needs of post-secondary institutions and research hospitals;
• $250 million over four years, starting in 2021-22, for the federal research granting councils to create a new tri-council biomedical research fund;
• $250 million over three years, starting in 2021-22, to the Canadian Institutes of Health Research to implement a new Clinical Trials Fund; and
• $45 million over three years, starting in 2022-23, to the Stem Cell Network to support stem cell and regenerative medicine research.
These funding opportunities have the potential to provide New Brunswick with increased opportunities for researchers and their institutions to grow and sustain economic growth in health-related research in the province. They also support the fact that New Brunswick is actively participating in National Precision Medicine initiatives.
Construction of the NB Centre for Precision Medicine was completed last year and the Université de Moncton is currently recruiting a Research Chair in Precision Medicine. Relevant research is already underway at the Université de Moncton, the Atlantic Cancer Research Institute and Reseau de Santé Vitalité.
“Budget 2021 is certainly a step in the right direction to enable more biomedical and clinical research projects at the NB Centre for Precision Medicine” said Marc Surette, Executive Member of the New Brunswick Health Research Foundation (NBHRF). “This will not only help drive innovation in research but also increase employment opportunities in the industry.”
Budget 2021 also has the potential to provide opportunities to advance clinical research at hospitals throughout the province. NBHRF currently contributes to this effort through our Clinical Scholarship program. Additional funding can provide new opportunities at the Regional Health Authorities for clinicians to devote time to research activities.
“We applaud the federal government in investing in health research and health innovation,” said Monique Imbeault, Chairperson of the NBHRF. “It is exciting to hear about the newly announced Clinical Trials Fund, National Institute for Women’s Health Research and biomedical research fund.”