The Banff International Research Station will be receiving $12.5 million in funding over the next five years from agencies in Canada, Mexico and the United States.

The station brings together scientists and mathematicians to study solutions to challenges in sectors such as energy, technology and health at the Banff Centre.

"The station has been so successful. We started getting hundreds of applications for workshops from all over the world and we only had 50 weeks to assign, so we were declining many, many excellent proposals," said Nassif Ghoussoub, scientific director at the research station.

Alberta's provincial government is putting in $4 million.

The research station attracts international experts to Alberta, and will help universities attract and retain talented people, say provincial officials.

"It is incredibly exciting to have one of the world's best mathematical institutes here in Alberta. Students and mathematicians come from across the globe in order to learn new methods and participate in ground-breaking discoveries," said Minister of Veterans Affairs Kent Hehr in a press release.

Including the funding from Alberta, the research station will receive $12.5 million total from the province, the federal government, the Natural Science and Engineering Research Council, the U.S. National Science Foundation, and Mexico's Consejo Nacional de Ciencia y Tecnologia.