As you may recall, the goal of Fast Grants is to support biomedical research to fight back Covid-19, thus restoring prosperity and liberty.
Yesterday 40 awards were made, totaling about $7 million, and money is already going out the door with ongoing transfers today. Winners are from MIT, Harvard, Stanford, Rockefeller University, UCSF, UC Berkeley, Yale, Oxford, and other locales of note. The applications are of remarkably high quality.
Nearly 4000 applications have been turned down, and many others are being put in touch with other institutions for possible funding support, with that ancillary number set to top $5 million.
The project was announced April 8, 2020, only eight days ago. And Fast Grants was conceived of only about a week before that, and with zero dedicated funding at the time.
I wish to thank everyone who has worked so hard to make this a reality, including the very generous donors to the program, those at Stripe who contributed by writing new software, the quality-conscious and conscientious referees and academic panel members (about twenty of them), and my co-workers at Mercatus at George Mason University, which is home to Emergent Ventures.
I hope soon to give you an update on some of the supported projects.