Research funding flowing to Atlantic Canadian universities fell slightly in 2023 to $454.3 million, according to data from business intelligence and consulting company Research InfoSource, down from $468.2 million the year prior.

The funding tally includes any grant, contribution or contract an institution receives towards research from an outside source. And despite last year’s slight decrease, funding is still up significantly overall compared to 2021, when universities in the region received $427.2 million of research funding.

Dalhousie University led the pack with $190.8 million raised, the 15th best result of any Canadian school, up from 16th place in 2021, when it raised $183.7 million. Memorial University followed closely behind in 17th place with $175.8 million, also an improvement on last year’s 18th place.

The University of New Brunswick’s funding declined very slightly to $54.4 million, but it held its position in Research InfoSource’s national rankings at 27th place. And Saint Mary’s University remained in 45th place despite a minor decrease in funding to $12.1 million.

The Université de Moncton and the University of Prince Edward Island, though, both saw more significant declines. The Université de Moncton lost nine per cent of its funding, dropping it’s total research income to $10.6 million, and the University of Prince Edward Island lost 17.8 per cent of its funding, dropping it to a total of $10.6 million and costing it four places on the Research InfoSource list to land in the 48th spot.

The strong research funding complements strong fundraising by the private sector, with at least $237.6 million of equity funding raised in 2023 according to preliminary calculations by Entrevestor — though as with the university funding, there is a stark gap between the capital flowing to the market leaders and what is available for less competitive players.