Mr. Speaker, I am delighted to say that not only is the foundation established and functioning but it is receiving applications for the first competitive set of grants. We expect the first announcements to be made by early summer.
This will be a major incentive to universities and teaching and research hospitals across Canada to not only take advantage of the foundation for innovation and its assistance in upgrading and building research infrastructure but also to make use of the $400 million that has been made available to the university research granting councils to further support the performance of international quality research in this country.