A health foundation has created a grant program to avoid funding gaps for research scientists that can happen between the seed stage and later stages.
New Jersey Health Foundation has allocated $500,000 for faculty at the eight schools that make up the University of Medicine and Dentistry of New Jersey: the Graduate School of Biomedical Sciences, New Jersey Dental School, New Jersey Medical School, Robert Wood Johnson Medical School, School of Nursing, School of Osteopathic Medicine, School of Public Health and School of Health Related Professions.
The New Jersey Health Innovation Stage Funding Program will provide funding allocations from $10,000 to $50,000, according to a statement from the foundation.
Dr. George F. Heinrich, CEO of New Jersey Health Foundation, said in the statement: “An unmet funding need existed for researchers who are beyond the Annual Grants Program stage but not yet at FVCG investment stage.”
The new program is in addition to its New Jersey Health Annual Grants Program, which allocates grants of up to $40,000 each in seed and bridge funding to researchers and faculty members for research projects and education programs. The recipients tend to be those who might otherwise not receive traditional grant funding.
The health foundation also runs the Foundation Venture Capital Group with $5 million to provide investments in life science companies developing medical research and technology. Earlier this year, $500,000 was allocated to GeneAssess, which is developing a diagnostic biomarker to detect breast cancer earlier.