The University of Minnesota's external research awards rose 31% in its most recent fiscal year, lifted in part by $256 million in Covid-19 related projects.
Overall, the U of M successfully competed for $1.15 billion in research funding, pushing the award mark over the $1 billion award mark for the first time in the school's history.
“During this time of global urgency, in which society depends more than ever on science for insight and guidance, our researchers have truly risen to the challenge,” said Michael Oakes, PhD, the University’s interim vice president for research. “Their success in attracting this level of funding demonstrates their commitment to addressing the many impacts of the pandemic and helping to ultimately bring it to an end."
The largest funding increases went to the School of Public Health (SPH) which raised $201.9 million, a 306.6% increase. After that came the Medical School, which raised $51.9 million, a 18.6% increase.
Nearly $190 million of the SPH's funding went to the Coordinating Centers for Biometric Research (CCBR). The CCBR was responsible for testing possible Covid-19 treatments in clinical trials around the country.
In the startup realm, The U's Technology Commercialization Venture Center launched a record 20 startup companies, 14 of which are based in Minnesota. The University's systemwide strategic plan has set a goal to launch 25 startups per year by 2025.
The Venture Center has launched more than 190 startups since 2006. Nine have been acquired or gone public since 2017.
“By combining the expertise of industry leaders and academic researchers, we are able to pursue new and exciting research directions, while ensuring the discoveries that result have a path to the market, where they can benefit people in society,” said Rick Huebsch, executive director for UMN Technology Commercialization.
