Organization Profile - Canada Foundation for Innovation

Canada Foundation for Innovation

Minister of Innovation, Science and Industry

The Canada Foundation for Innovation (CFI) is an independent corporation created by the Government of Canada to fund research infrastructure. The CFI's mandate is to strengthen the capacity of Canadian universities, colleges, research hospitals, and non-profit research institutions to carry out world-class research and technology development that benefits Canadians.

Ottawa, Ontario

Budget Implementation Act, 1997

The Board consists of:

• a Chairperson of the Board, who is resident in Canada, appointed by the GIC on the recommendation of the Minister;
• five persons, who are resident in Canada, appointed by the GIC on the recommendation of the Minister; and
• seven persons, who are resident in Canada and none of whom are employees or agents of Her Majesty in right of Canada or in right of a province or members of the Senate, the House of Commons or the legislature of a province, appointed by the members in accordance with the by-laws of the foundation.

The Chairperson and the directors appointed by the GIC shall be appointed to hold office during pleasure for terms of three years but, except where they cease to be director, they shall continue to hold office until their successors are appointed.

A director is eligible to be reappointed for one or more additional terms of office.

The appointment of directors shall be made:

• to ensure, as far as possible, that at all times approximately one half of the directors will be representative of persons engaged in research and one half representative of the business community or non-profit organizations; and
• having regard to the desirability of having directors drawn from various regions of Canada.

A director appointed by the GIC ceases to be a director when the director:

• dies;
• resigns;
• ceases to be resident in Canada;
• becomes disqualified under subsection 105(1) of the Canada Business Corporations Act; or
• is terminated by the GIC before the expiry of the term of the appointment.