White House touts billions in coronavirus grants for innovators

A number of federal institutions will be giving about $3.5 billion in grants and other types of funding to advance COVID-19 research.

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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.

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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."

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.

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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.

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