Virginia Commonwealth University is marking a milestone achievement in its renowned research enterprise. Highlighting ongoing and dramatic growth, VCU has surpassed the $500 million mark in sponsored research funding for the first time.
The fiscal year 2024 total of $506 million represents the sixth consecutive year of record-setting funding, and it reflects an 86% increase over six years and 9% over last year. The rapid growth of VCU’s research enterprise continues the university’s growing national distinction as a top urban, public research university.
“For the sixth year in a row, VCU has again broken its own record for sponsored research funding, continuing its rise as one of the nation’s top 50 public research universities,” said VCU President Michael Rao, Ph.D. “Even more important than the dollar volume of sponsored research or the ranking is the impact that VCU has on so many communities in Virginia and throughout the world, by bringing together some of the world’s very best researchers from across a wide range of disciplines.
“None of this could have happened without a world-class faculty,” Rao emphasized. “I am profoundly proud of and grateful for my faculty colleagues at Virginia Commonwealth University for the depth of their concern for humanity and the well-being of all people.”
Rao shared a preview of the 2024 sponsored research figures with the Board of Visitors at its annual retreat this week.
This past year of sponsored research funding at VCU has included numerous notable projects, including:
- A recurring $9 million grant from the Department of Defense in support of the Convergence Labs @ VCU initiative, a cross-disciplinary institute bringing together scientists, engineers and technicians to solve pressing defense challenges for the U.S.
- $6 million from the Virginia Department of Education for the VCU x CodeRVA Lab School.
- $4 million from the Bill and Melinda Gates Foundation for the VCU Medicines for All Institute, supporting low-cost manufacturing for global health drugs.
- A $4 million clinical and translational research award from the National Institutes of Health.
- $3 million from Virginia Department of Health toward the Virginia Infection Prevention Training Center and significant funding towards large clinical trials.
“I am so incredibly proud of this research milestone, and I extend my sincerest thanks and congratulations to the entire VCU research community,” said P. Srirama Rao, Ph.D, vice president for research and innovation. “A few years ago, we decided as a university that in order to achieve sizable growth in research, we had to commit to being strategic, invest in resources and directly engage our faculty, staff and students. In addition to these efforts, the leadership within our schools and colleges on all our campuses has ensured that research now permeates through everything that we do at VCU and continues to take us to new heights.”
The annual increase in both quantity and size of the grants won by VCU faculty across the MCV and Monroe Park campuses over the past six years has been spurred through the university’s commitment to its research strategic priorities plan and investments in four key research initiatives led by innovative and high-impact teams. The priorities leverage the university’s growing national and international leadership.
“The impactful research conducted at VCU in the fields of arts, humanities, social sciences as well as the STEM and health science fields, and our transdisciplinary approaches to problem-solving, is lifting lives,” S. Rao said. “Our research addresses societal issues ranging from confronting disparities, tackling climate change and curing chronic diseases. We are perfectly poised to continue to address the challenges faced here in Richmond, across the country and around the world.”
Over the past year, VCU’s research has earned numerous accolades, including:
- Ranked in the top 50 among public research universities in the U.S. by the National Science Foundation.
- 19 health sciences departments and schools ranked in the top 50 for NIH funding for public universities.
- Ranked for the second consecutive year by the National Academy of Inventors as being among the top 100 universities in the U.S. for utility patents granted, reflecting VCU’s excellence in innovation and research.
- 10 graduate programs ranked in the top 50 by U.S. News & World Report.