Mila welcomes the new Quebec Research and Innovation Investment Strategy

MONTREAL – May 19, 2022 –  Mila - Quebec artificial intelligence Institute welcomes the new Quebec Research and Innovation Investment Strategy (SQRI2) announcement, which grants more than $217M to the artificial intelligence (AI) sector from 2022 to 2027.

Under the SQRI2 2022-2027, the Government of Quebec will invest $217.2 million, including additional sums totaling $125 million over five years to support excellence in AI university research, training, AI adoption projects in businesses, incubating and bootstrapping AI companies, and the consideration of the social impacts of AI and digital technology by businesses.

AI, a strategic vector

“This government strategy for research and innovation investment is both ambitious and focused on Quebec’s promising sectors like AI. Cutting-edge research, attracting the best talent, social influence and AI adoption in businesses and organizations are central to Mila’s outreach. We welcome the major and strategic investments in the SQRI2 unveiled today,” said Valérie Pisano, President and CEO of Mila.

"The choice of future sectors and structuring projects to invest in is just as important to ensure that our innovations address major social issues, such as climate change. Artificial intelligence, quantum technologies, life sciences, aerospace, transportation electrification, natural resources, and renewable energies are niches in which Quebec excels and already making its mark internationally. To continue to thrive in these sectors, we must focus even more on those links in the innovation cycle that need more support," stated Pierre Fitzgibbon, Minister of Economy and Innovation, in the SQRI2.

Comprising five axes, the SQRI2 proposes to invest more than $7.5 billion, including more than $1.3 billion in new budgetary allocations, to provide Quebec with a solid foundation in research and innovation.

Read the full strategy (only in French).

SQRI2’s five areas of intervention and 12 key actions

Focus 1 – Excelling in research, science and technology

  • Support the initiatives of the Fonds de recherche du Québec
  • Promote synergies in the research ecosystem

Focus 2 – Create an environment that fosters the development of innovation

  • Share and highlight research results
  • Facilitate access to ecosystem resources and their promotion
  • Establish a regulatory environment conducive to innovation

Focus 3 – Support investment and commercialization of business innovations

  • Adapt R&D incentives and innovation support programs
  • Support innovative technological entrepreneurship
  • Stimulate investment and commercialization of innovations

Focus 4 – Develop talent and the scientific and innovation culture

  • Develop talent, the next generation and key competencies in research and innovation
  • Develop the scientific and innovation culture

Focus 5 – Focus on sectors of the future and structuring projects

  • Prioritize high-impact sectors and technologies
  • Tackle social challenges through innovative solutions