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"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."
"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.
Funding 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.