Lab Canada

Promised endowment fund to double Alberta’s innovation budget

Edmonton, AB – A new bill tabled in Alberta’s legislature promises to boost the funding of the province’s Ingenuity Fund along with an expansion of other current endowments and scholarships in the advanced education area. The bill was tabled in early March by Premier Ralph Klein in the legislature and includes the planned investments from future unbudgeted surpluses.

Investments would include the Ingenuity Fund, which would be expanded by $500 million. The fund was created in 2000 to support basic and applied research in the province. The new addition would double the size of the fund.