Research Awards Exceed $411 Million
The record research total was announced during Wednesday’s Fall Address by President Genshaft.
TAMPA, Fla. (Sept. 19, 2012) - President Judy Genshaft announced today that the University of South Florida earned $411,061,232 in total research awards and contracts in the 2011-2012 academic year, breaking the $400 million mark for the first time.
President Genshaft unveiled the new research total in her annual Fall Address, where she also announced that USF Health would form a clinical organization named the USF Health System, to create new partnerships with hospitals. Lakeland Regional Medical Center will become the first member of the USF Health System in a partnership that will bring the latest in medical treatment to the hospital while creating 175 to 225 additional medical residencies for new doctors.
Additionally in Wednesday speech, the President announced a regional technology partnership led by USF was awarded $1 million from the U.S. Department of Commerce to support new internet and mobile app companies in the Tampa Bay Region through Tampa Bay WaVE. The Department of Commerce’s i6 grant was one of just seven awarded nationwide. An estimated 245 high-wage jobs totaling more than $15 million in annual salaries will be created as the project pairs selected ventures with dedicated mentors and supports the fledgling businesses with an array of resources and services.
Also noted in the Fall Address is on its Tampa campus, USF is launching a strategic plan that will guide its budgeting, President Genshaft said. The strategic plan will guide the university’s student success initiative, which integrates in-classroom, out of classroom, living experiences, online experiences and community engagement into the USF model of learning.
The plan also must guide the future of budgeting, the President said, as the Tampa campus absorbs a $37 million budget cut from the last state legislative session.
“The strategic plan, which captures our mission and our values, must now drive our financial decisions. This isn’t about cutting; it’s about investing. We need to invest where our mission, our values, and strategy define the future of this university system,” she said.
The speech allowed the president to reinforce USF’s growing reputation as a global research university dedicated to student success.
In the past 12 years, USF has made a national name in research funding, and is now one of the top 50 universities in the country in expenditures of federal funds for research, per the National Science Foundation.
USF is among the top 10 universities in the world for earning United States patents, and President Genshaft has been invited to present the USF model of entrepreneurship, invention, and its National Academy of Inventors, to a U.S. Department of Commerce conference in Washington in October.
Additional details on the new USF Health System partnership with Lakeland Regional Medical Center can be found here.