The United States and Canada have two distinct systems. In the United States, according to the Supreme Court, positive discrimination is illegal under the Bill of Rights. In Canada, according to the Canadian Charter of Rights and Freedoms, positive discrimination for the purpose of improvement is legal. However, legal doesn't necessarily mean good.
I think that most Canadians don't want a system that allocates funding on this basis. In the United States, affirmative action for university admissions has been banned. The world hasn't stopped turning. American universities are still excellent and they still recruit talent from around the world. It hasn't changed anything. In fact, it has made American universities better.
I think that Canada should consider following the American example. It's a good example to follow. Canadians aren't that different from Americans. We're an open people. We want people judged based on their merits, not their personal characteristics.