RD304 - University of Virginia Report on the Use of Commonwealth Research Initiative Funds - Updated October 2008


Executive Summary:
In FY08 the University of Virginia applied Commonwealth Research Initiative Funds (CRI) to sustain and expand the important research projects initiated in FY07. We completed recruiting of key faculty members; as these faculty members arrived at the University, they in turn recruited team members for their laboratories and purchased research equipment. As our FY07 report indicated, the new faculty members we recruited with state funds had an immediate and very significant impact on research productivity and external research funding. In FY08, as a result of the state's two-year investment of $21.3 million that has been allocated ($13.45 million GF and $7.85 million ETF), the University has received $79.86 million in external federal and private funding awards (excluding any pending funding), representing a return of nearly 375% and an increase of $27.26 million from FY07.

Cumulatively, over FY07 and FY08, these funds have substantially increased the institution's research capacity by providing for the recruitment of distinguished faculty, the acquisition of research equipment, and advances in research strategic priorities, such as morphogenesis and regenerative medicine and cancer research. Indeed, in FY08, with innovative, privately funded translational grant programs, we have strengthened the University's translational research infrastructure and accelerated the application of basic research to the solution of urgent public health and economic development problems for the Commonwealth. In FY09 we anticipate continued expansion of research productivity and expanded applications of research to the benefit of the entire University through a broad-based undergraduate research-learning program and much greater private sector participation in research, through private gifts and industry partnerships.