PharmAlliance partners fully recognize that investment is required in order to move the relationship forward and are fully committed to providing both direct and indirect resource to the enterprise. The manner, timing and extent of that commitment remains flexible so as to meet the changing needs and existing financial commitments of the member institutions. We believe that the most equitable and transparent means of achieving this is to establish a ledger that will record expenditures of resources in accordance with institutional and other requirements.
PharmAlliance activities are broadly considered to be those supported by the investment fund (see below) and those associated with ad hoc meetings, interactions and opportunistic events.
PharmAlliance Executive meetings of senior faculty from member institutions (e.g. travel, hosting, other costs etc) are funded from recurrent operating funds of each institution in order to preserve funding available for research project support from the Investment Fund.
Investment Strategies to Fund PharmAlliance Projects
Each institution recognizes that investment is required to support the activities of PharmAlliance. The investment is seen as an enabler of innovation and impact, funding research with the potential to attract external funding, foster higher levels of collaboration, and enhance the functional and reputational impact of each institution. However, as each school works within their own institution’s financial climate, regulations and associated procedures and manage financial priorities within a wider institutional context, discussions occur early at each school to source appropriate funding.
Funding Projects and Collaborative Activity
The primary purpose of PharmAlliance is to encourage faculty, staff and students among the three participating institutions to work together synergistically in important and impactful areas, consistent with the core values of the partnership. Funding priorities are developed and refined as PharmAlliance evolves. The focuses of the first five years are outlined below:
- Provide resources for members of the PharmAlliance to meet in a face-to-face meeting format to explore and develop important and meaningful programs and/or project collaborations
- Provide seed funding to enable the further exploration and development of collaborative ideas with the intention of creating a significant proposal that would have the potential to impact the competitiveness and/or reputation of the members of PharmAlliance
- Provide development and enhancement funds to enable the maturation of significant programs or scientific concepts that have the potential to place PharmAlliance members in a unique and highly competitive position
Travel Grants and Funding Calls
Travel grants are available on a rolling application cycle, up to a total amount of $10,000 USD. An annual funding call is released in the early part of each calendar year for Tier A or B grants, up to a total amount of $100,000 USD. At this time, funding is only available to faculty, staff, and students at each member institution. For more information, please sign in and navigate to the Grant Schemes page.