Alternative Funding for Research - Success of the Medical Research Society University of Toledo
September 5, 2017
Funding of the Academic Missions continues to be challenged by a number of factors that include reimbursement by third party payers and declining governmental support. New funding sources are required to maintain and build academic programs. Furthermore, for research specifically, the NIH funding situation remains unclear and some additional sources of funding are needed to support early career investigators.
The University of Toledo has developed a philanthropic group, the Medical Research Society, to endow funds to support early career investigators. This group is constituted by community donors that agree to a 5-year commitment to support the program. The Medical Research Society meets annually to review, vote on, and approve funding of projects. The Society also meets several other times throughout the year to monitor the progress of funded investigators.
Since inception, the University of Toledo’s Medical Research Society has grown to 34 members, has raised several million dollars of endowed funds, and has created an environment of excited and engaged community members who have a greater appreciation for biomedical research. Furthermore, the research-active faculty appreciate the clear, affirmative support from the community.
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Christopher J. Cooper, M.D., FACC, FACP, FAHA, Executive Vice President for Clinical Affairs, Dean of the College of Medicine and Life Sciences, University of Toledo