The Alberta government is proposing over the next two years to allocate $1 billion from its Heritage Savings Trust Fund to create an endowment to support innovative solutions to social problems.
“Alberta needs to challenge its traditional thinking when it comes to making sure Albertans have every opportunity to succeed,” said Dave Hancock, the province’s minister of innovation and advanced education. “The $1-billion Social Innovation Endowment is Canada’s largest and will drive the creation of the new ideas we need to address issues like reducing poverty and family violence.”
The endowment will receive $500 million this year, and another $500 million in 2015-16. It will fund research, explore new funding models involving industry and not-for-profit groups, and help implement new ideas to solve social problems.
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