HEC Montréal delighted with Quebec budget increases
Quebec boosts university funding
March 29, 2018
HEC Montréal is very pleased with the announcement by Quebec Finance Minister Carlos Leitão in his 2018–2019 Quebec Economic Plan, tabled on March 27, calling for a 5.9% increase in university funding.
“The Quebec government has shown the value it places on the Quebec university network. The budget gives universities more means to play a key role in transforming the Quebec economy and our society in the coming years,” said Michel Patry, Chair of the Bureau de la coopération interuniversitaire Board and Director of HEC Montréal.
The new amounts allocated to universities include:
- $173 million for 2018–2019, to update university funding and finance the increase in operating costs and costs associated with rising enrolment.
- $282 million over five years under the Quebec Infrastructures Plan.
- $187 million over five years under the digital action plan for CEGEPs and universities.
- $20 million for the Fonds de recherche du Québec.
- $15 million annually over five years for the fourth practicum for future teachers.
- More financial aid for students.
In its strategy for supporting the development of small and medium-sized businesses and Quebec expertise in artificial intelligence, the province will be supporting business accelerators and incubators, including HEC Montréal’s NextAI and CDL-Montréal projects. These two initiatives will receive $10 million in funding over five years.
Also, $60 million from the Quebec government will be added to federal funding for different projects supported by the SCALE.AI AI-powered supply chain supercluster, of which HEC Montréal is a partner university.