Foundation Board Approves $11.8M in Grant Funding to Michigan State University for the 2023-2024 Fiscal Year
The Michigan State University Research Foundation has committed $11.8 million in grant funding for the 2023-2024 fiscal year, surpassing previous allocations, to support various programs at Michigan State University, including technology commercialization, faculty recruitment, and innovative research initiatives.
EAST LANSING, Mich. –– The Michigan State University Research Foundation (MSU Research Foundation) has announced an $11.8 million grant funding commitment to Michigan State University for the upcoming 2023-2024 fiscal year. This annual grant surpasses the previous year's allocation of $10.8 million and will play a key role in supporting various programs at the university.
"Our annual grant to Michigan State is a core pillar of our mission at the Foundation," said David Washburn, Executive Director of the MSU Research Foundation. "Providing these resources to the university serves our mission more than anything else we do."
As a nonprofit foundation associated with the nation’s premier land grant university, the MSU Research Foundation has remained dedicated to promoting, encouraging, and aiding scientific investigation and research at Michigan State since its establishment in 1973. The Foundation actively engages in patent matters, performs trust functions for the university's fundraising organization, and contributes to technology commercialization, economic development, and placemaking efforts.
Randolph Cowen, Chair of the MSU Research Foundation Board of Directors, expressed the board's enthusiasm in making this commitment. “We know it’s been challenging for MSU to maintain a consistent level of funding over the past few years,” he said. “Considering the COVID-19 pandemic, volatile financial markets, and other challenges, our Board is thrilled to be able to provide this increased funding support.”
The annual grants awarded by the MSU Research Foundation have consistently bolstered the university's reputation as a world-class institution. Funding has supported various programs, including technology commercialization, faculty recruitment and retention, and capacity building grants.
Interim President Teresa K. Woodruff expressed her gratitude for the MSU Research Foundation's continued investment, emphasizing its significance in advancing the university's pursuit of research and innovation. "Having a stable and flexible resource like the Research Foundation enables us to pursue a diverse range of projects," she said. "Research focused on single-crystal diamond growth for various applications, development of advanced treatments for diseases like cancer, and the application of artificial intelligence in drug discovery are just a few examples of the groundbreaking projects underway."
The annual Foundation grant is an important funding mechanism to support promising new initiatives in key areas of research, scholarship, and multidisciplinary collaboration. Overall, the program aims to achieve several of the following aspirations:
Establish a strong reputation for research, both nationally and internationally, distinguishing MSU from other universities.
Foster sustained collaboration among faculty members, enabling research projects that would not have been possible without this funding.
Support innovative, high-risk research that has the potential to provide greater returns and enhance the university’s reputation.
Enable MSU faculty to compete successfully for significant external funding opportunities, ensuring long-term sustainability for research and fostering future growth.
Encourage the development of research ideas that have significant, long-term commercial potential, or can create a broad impact on the community or the world.
The program enables such opportunities by supporting research and scholarship that is leading-edge, interdisciplinary, and capitalizes on the existing intellectual and research resources at Michigan State University.
Additionally, the program advances the MSU Research Foundation’s mission to provide seed funding for the development of new knowledge, to lay the groundwork for centers of excellence at the university, and to invest in the development of Michigan State University as one of the nation's leading research institutions.
Since its founding in 1973, the MSU Research Foundation has provided over $390M in funding to Michigan State University.