With its endowment recovering from a dip many foundations saw several years ago, the Howard Hughes Medical Institute (HHMI) said last week that it would launch a campaign to back the research of up to 50 new scientists, marking its first major recruitment effort in 4 years and a major investment by the institute.
HHMI's annual research budget is around $500 million, and it expects to pump as much as $350 million in additional support into the biomedical research community over the next 7 years, according to Thomas R. Cech, the institute's president.
The campaign comes at a time when HHMI's endowment has seen a significant rebound from the hit it took during the previous couple of years. “Like other nonprofits, our endowment took a bit of a dip. But we now feel very strong and confident, and this is a wonderful opportunity for us to hold a general competition,” ...
