The University of Minnesota has set a record by receiving external funding of $793 million in 2018 for its various research projects.
The university made the announcement on Thursday, calling it the highest amount received to date while excluding the one-time federal economic stimulus dollars.
According to the fiscal 2018 Annual Report on Research and Technology Commercialization released by the university, the federal awards saw an increase of 12.7 percent, while state awards went up by 17.7 percent. In total, the external research portfolio saw growth of 6.5 percent compared to 2017.
“With nearly a billion dollars in research expenditures each year, the University of Minnesota continues to be among the leading American research universities, uncovering new knowledge and finding solutions to some of the most complex challenges facing society today,” said Christopher Cramer, the University’s vice president for research.
“I am excited by the growth in our research enterprise and the potential it holds to bring about real-world impact through new ideas, technologies, treatments and cures. We owe this progress to our talented research faculty and staff, who embody the University’s spirit of inquiry—namely, that we are driven to discover.”
Out of the total research grant, more than 51 percent went to the medical school and other health-related research projects.
The National Science Foundation Higher Education Research and Development Survey had ranked the university among the top ten for research-related expenditures. Last year, the university spent a total of $922 million on research.
“Experience conducting research, a vital component of graduate education, and access to the latest in research infrastructure, provide our students with opportunities to develop, refine, and apply specialized skills that set them apart,” vice provost for graduate education Scott Lanyon said.
“Participating in research even at the undergraduate level enhances students’ future careers and allows them to contribute to Minnesota’s economy by supporting, and in some cases creating, the industries that fuel our state,” Lanyon added.