Looking at these areas, I'm not expecting that fundamental research is going to fare well in the competition. This appears much more about "innovation" (commercializing S&T) and less about knoweldge generation.
No, I'm not surprised.
I think that it is also important to note that this funding (and honestly, it ain't that much) is only happening after a decimation of the country's science infrastructure, and a fundamental shift into short-term, commercially focused, research.
I hope that, when we eventually remove our current cynical and small minded cretins (sorry, did I lose objectivity?) from office, the next government will restore a balance to the Canada's R&D infrastructure and capabilities. After all, it is not possible to commercialize knowledge that has not been created.