Three of the nation’s largest philanthropies – the Howard Hughes Medical Institute, the Bill & Melinda Gates Foundation, and the Simons Foundation – have announced a new partnership to provide much needed research support to outstanding early-career scientists in the United States.
Through the new Faculty Scholars Program, the philanthropies will invest a total of $148 million in research support over the program’s first five years.
- They will award up to 70 grants every 2.5 years to promising scientists who have great potential to make unique contributions to their field.
- Awardees will receive a five-year, non-renewable grant whose size will be based on several factors, including the amount of external funding the scientist has at the time of the grant.
- The grants will range from $100,000 to $400,000 per year for direct costs.
- The awardee’s institution will be given an additional 20 percent of the yearly grant for indirect (or administrative) costs.
- Faculty Scholars are required to devote at least 50 percent of their total effort to the direct conduct of research.