Virginia Biosciences Health Research Corporation, doing business as Virginia Catalyst, is the Commonwealth’s bioscience research consortium. In fiscal year 2026 it was funded with $3.75 million from the Commonwealth and $250,000 from it’s five member institutions, for $4 million in total. Its charge is to build collaborations among Virginia’s research universities, health systems, and industry, and to turn those partnerships into commercialization, follow-on capital, and high-paying jobs.

The grant program requires substantive collaboration between investigators from at least two Virginia research universities and an industry partner, plus a verified dollar-for-dollar cash match. Awards of $200,000 to $800,000 are non-dilutive and are paid to the prime university as milestones are met. In fiscal year 2026 the Catalyst closed Round 18 and conducted Round 19, funding six projects $4.8 million. Cumulatively through June 30, 2026, Virginia Catalyst has awarded over $40 million to 75 collaborative projects. Together those projects brought in over $60 million in matching funds, resulted in over $900 million in follow-on funding and acquisitions, and created over 500 new high-paying jobs in Virginia.