The University of Virginia and the Wallace H Coulter Foundation have partnered to create a $20 million endowment for translational research in biomedical innovation, Web Wise reports. The University of Virginia Coulter Translational Research Partnership in biomedical engineering is being financed by a $10 million grant from the Coulter Foundation and $10 million from other university endowments.
The university is looking for another $10 million from other foundation, corporate and individual partners to provide permanent annual funding for 10-12 projects per year at $100,000-150,000 each. The university’s Coulter projects have produced five start-up companies, 11 licensing agreements, over $12 million in venture capital and private investments, and more than $20 million in federal, state or foundation grants.
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