The Science and Technology Strategy was revealed by the federal government in May 2007. The strategy highlighted a number of ways by which commercialisation initiatives could be promoted in Canadian universities. The strategy aims to strengthen the relationships between public universities and private industry and facilitate commercially driven research at the graduate student level. This will be accomplished through the creation of research centres and adjusting the governance and role of the granting councils to further the commercialisation agenda.

The key recommendations that relate to research in post-secondary education institutions include directing public resources and research in targeted areas that will promote market driven research. Priority areas may include environmental science and technologies, natural resources and energy, health and related life sciences and technologies, and information and communications technologies; Increasing the transfer of knowledge and technologies from universities, research hospitals, and government laboratories to the private sector; realigning the granting councils to focus more on commercially oriented research; setting up the Centres of Excellence in Commercialization and Research program and creating new business-led research networks under the Networks of Centres of Excellence Program. Eight large-scale centres will be created to undertake research in areas where Canada has the potential to be a "global leader".

The Caucus continues to monitor the implementation and impact of the Strategy on campuses and on public research.