A group of tech entrepreneurs and venture capitalists are committing $10 million to coronavirus research with the aim of sidestepping the lengthy grant approval process that academics are faced with all the time.
The tech gurus are set to provide “Fast Grants” of $10,000 to $500,000 that will help researchers to concentrate on coronavirus prevention and treatment. From the 12th of April, all grant applications will be approved or denied in less than 2 days, after which researchers will be paid as quickly as their university can receive it.
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The fund’s website read, “Science funding mechanisms are too slow in normal times and may be much too slow during the COVID-19 pandemic. Fast Grants are an effort to correct this. We’ll prefer projects that are cheap (so that our fund dollars go further) and that will yield results quickly (during COVID-19, days matter).”

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