USF Sets New Record With $738 Million In Research Funding

USF Sets New Record With $738 Million In Research Funding

During the Fiscal year 2024, the University of South Florida achieved a record-breaking $738 million in research funding – up nearly 7% over the previous year and an impressive increase of 35% since 2022. 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.”

The research funding obtained from Fiscal equates to $738 million for the research enterprise, $429 million (58%) coming from federal sources, $242 million (33%) from private partnerships and $67 million (9%) from state and local agencies.

Engineering has the highest level of growth, contributing 38%. This led to an increase in USF’s core medical research by $53.4 million. One hundred researchers received over $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.”