Story by Tina Meketa, University Communications and Marketing
The University of South Florida achieved a record-breaking $738 million in research funding during fiscal year 2024 – up nearly 7% over the previous year and an impressive increase of 35% since 2022.
The milestone comes during USF’s first full fiscal year as a member of the prestigious Association of American Universities and helps demonstrate its impact as one of the nation’s most research-intensive institutions. The new record brings the university closer to reaching its goal of securing $1 billion in annual research funding.
“The world-class researchers at the University of South Florida are transforming lives and creating a better future for our society through their scientific discoveries, medical breakthroughs, development of new technologies and other innovations,” USF President Rhea Law said. “By continuing to grow our research enterprise, USF can provide more evidence-based solutions to complex challenges and make an even greater impact on our communities.”
More than half of USF’s research funding, which includes direct support organizations and affiliates, comes from federal agencies. The National Institutes of Health provided $227 million in research awards – up 14% from the prior year. Diabetes research conducted in the USF Health Informatics Institute received the largest share – more than $50 million. Led by Jeffrey Krischer, the institute coordinates an international network of university medical centers and health care providers to investigate the causes of Type 1 diabetes and develop prevention strategies.
The Department of Defense increased its funding by 73%, awarding USF a new record high of $36 million. The USF Institute of Applied Engineering signed two of its largest defense contracts with U.S. Special Operations Command and U.S. Central Command – both headquartered at MacDill Air Force Base. Projects include assisting the U.S. Department of Defense in developing a roadmap to enhance its combat capabilities and leveraging artificial intelligence and machine learning algorithms to develop indexes that are based on political, economic and environmental factors in the Middle East.
“Our faculty, staff and students are deeply committed to addressing complex problems, driving innovation and making significant contributions to society,” said Prasant Mohapatra, provost and executive vice president. “This achievement is a significant step forward in our shared vision to enhance our position as one of the America’s leading research universities and achieve our ambitious goal of reaching $1 billion in research funding.”
Among the other key takeaways:
- Of the $738 million research enterprise, $429 million (58%) comes from federal sources, $242 million (33%) from private partnerships and $67 million (9%) from state and local agencies
- Engineering achieved the highest level of growth, increasing its contributions by 38%
- USF’s core research in medicine increased by $53.4 million
- A total of 100 researchers received more than $1 million in funding, an increase of 20% from the previous year
“Our record-breaking research funding year underscores USF’s growing impact on global challenges and highlights our commitment to driving transformative discoveries that benefit our community and the world,” said Sylvia Wilson Thomas, vice president for research and innovation. “As we continue to push the boundaries of knowledge, we remain focused on fostering an environment that inspires groundbreaking research and fuels the next generation of solutions.”
