The Government of Canada announced significant funding for transformational research at the University of Waterloo with the federal budget tabled today.

"I am so pleased that the University of Waterloo stands to benefit from such important investments contained in the budget," said Feridun Hamdullahpur, president and vice-chancellor of Waterloo. "They will strengthen our economy and increase our innovative capacity."

Economic Action Plan 2014 allots a further $15 million over three years in renewed support for the University of Waterloo's Institute for Quantum Computing (IQC).

The government also established the new Canada First Research Excellence Fund. It is a significant step to ensuring Canadian universities can attract and develop top domestic and international talent, make new discoveries, and mobilize them for the benefit of all Canadians.

The budget contains the creation of the Open Data Institute. The institute would bring together government, academic, and private sector leaders to solve challenges associated with Open Government efforts.

The Honourable Jim Flaherty, finance minister, unveiled the budget in the House of Commons this afternoon.

About the University of Waterloo

In just half a century, the University of Waterloo, located at the heart of Canada's technology hub, has become one of Canada's leading comprehensive universities with 35,000 full- and part-time students in undergraduate and graduate programs. Waterloo, as home to the world's largest post-secondary co-operative education program, embraces its connections to the world and encourages enterprising partnerships in learning, research and discovery. In the next decade, the university is committed to building a better future for Canada and the world by championing innovation and collaboration to create solutions relevant to the needs of today and tomorrow. For more information about Waterloo, please visit

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Pamela Smyth
University of Waterloo

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