White House touts billions in coronavirus grants for innovators

Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here.The Trump administration is putting billions of dollars toward startups and entrepreneurs fighting the novel coronavirus, the White House announced Tuesday.A number of federal institutions will be giving billions in grants and other types of funding aimed at helping innovators come up with new solutions to the COVID-19 pandemic.BUSINESSES SEEKING CORONAVIRUS RESCUE FUNDS FIND ‘ABSOLUTE CHAOS'”America’s vibrant innovation ecosystem has always brought outside-the-box ideas and technologies to the forefront to address great challenges,” U.S. Chief Technology Officer Michael Kratsios said in a statement. “This time of crisis is no different.”A researcher at Protein Sciences works in a lab March 12 in Meriden, Conn. (AP Photo/Jessica Hill)”Through a range of funding, grant, and award opportunities, the Trump administration is committed to leveraging our country’s brilliant start-ups, entrepreneurs, and technologists in the fight against COVID-19,” he continued.The National Institutes of Health (NIH), Biomedical Advanced Research and Development Authority (BARDA), National Science Foundation (NSF) and National Institute of Standards and Technology (NIST) are together giving about $3.5 billion in grants and funding toward different COVID-19 research efforts.GET FOX BUSINESS ON THE GO BY CLICKING HEREFunding will accelerate projects focused on vaccine development, clinical trials, therapeutics development, manufacturing and expansion of U.S.-based medical production and other research proposals. Funding will also help develop new technologies needed for advanced research, according to the White House.For example, Johnson & Johnson has partnered with BARDA to commit to investing more than $1 billion in fighting the coronavirus as the company’s pharmaceutical arm chases a coronavirus vaccine.CLICK HERE TO READ MORE ON FOX BUSINESS
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