Funding comes through Qu\u00e9bec\u2019s five-year innovation strategy.<\/p>\n
<\/p>\n
The Qu\u00e9bec government is injecting $36 million CAD in fresh funding into Montr\u00e9al-based AI research institute Mila as it aims to maintain the province\u2019s reputation as a leader in AI research.\u00a0<\/p>\n
\u201cIn a highly competitive global environment, we must make strategic choices to preserve our strengths.\u201d<\/p>\n
Minister Jean Boulet<\/p>\n
Government representatives, including economy and innovation minister Jean Boulet, made the announcement today at Mila headquarters. The government said the funding will allow Mila to strengthen its role as a world-class research institute and help make the province a leader in the ethical and responsible development of AI. It will also support Mila\u2019s efforts to drive the adoption of AI technology among Qu\u00e9bec companies.\u00a0<\/p>\n
\u201cIn a highly competitive global environment, we must make strategic choices to preserve our strengths,\u201d Boulet said in a French statement, which BetaKit has translated into English. \u201cBy supporting Mila, we are consolidating this expertise and ensuring that research findings translate into concrete business innovations, skilled jobs, and economic growth here in Qu\u00e9bec.\u201d\u00a0<\/p>\n
The funding comes from Qu\u00e9bec\u2019s $7.5-billion five-year innovation strategy<\/a>, which aims to incentivize research and development, spur more commercialization of public research, and boost the province\u2019s productivity rates. The strategy was first introduced by former minister Pierre Fitzgibbon in 2022. Since then, ministers Christopher Skeete<\/a> and Christine Fr\u00e9chette have taken on the mantle (Fr\u00e9chette has announced her candidacy for Coalition Avenir Qu\u00e9bec party leader, to replace outgoing premier Fran\u00e7ois Legault).\u00a0<\/p>\n RELATED: Mila and Inovia launch venture fund to turn AI research \u201cdiamonds\u201d into startups<\/a><\/p>\n The Qu\u00e9bec government had previously pledged<\/a> up to $80 million to Mila over five years starting in 2018, as part of its AI strategy.<\/p>\n Mila and its sister organizations, Toronto\u2019s Vector Institute and Edmonton\u2019s Alberta Machine Intelligence Institute, are funded by the federal government through the Pan-Canadian AI Strategy. Founded in 1993 by Turing Award winner<\/a> and leading computer scientist Yoshua Bengio, Mila has grown into a joint initiative between leading academic institutions in Qu\u00e9bec, including Universit\u00e9 de Montr\u00e9al and McGill University.\u00a0<\/p>\n Since the appointment of Hugo Larochelle<\/a> as its scientific director, the research hub has put a renewed focus on commercializing AI research. It\u2019s currently raising a venture capital fund<\/a> alongside Montr\u00e9al firm Inovia Capital that\u2019s targeting $100 million USD to back AI researchers who want to turn their discoveries into companies.\u00a0<\/p>\n Feature image courtesy Madison McLauchlan for BetaKit.<\/p>\n","protected":false},"excerpt":{"rendered":"Funding comes through Qu\u00e9bec\u2019s five-year innovation strategy.
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