Yale University has announced a $10 million grant from the Blavatnik Family Foundation to advance entrepreneurship in the life sciences and expedite the development, application, and commercialization of breakthrough research.
The multiyear grant will endow the Blavatnik Fund for Innovation at Yale and provide dedicated, strategic resources to Yale faculty members while supporting efforts to identify commercially relevant research efforts and create ties to outside business interests that can turn new discoveries into marketable tools, treatments, drugs, and devices. The gift also will establish the Blavatnik Fellows Program, which will provide a select group of young professionals with access to Yale researchers, inventors, venture capitalists, and business leaders, who in turn will provide Blavatnik Fellows with the technical and business skills they need to become leaders in scientific entrepreneurship.
"I am deeply grateful to the Blavatnik Family Foundation, and especially to [founder] Len Blavatnik, not only for this exceptional support, but also for our shared commitment to entrepreneurship as a way to serve some of society’s greatest unmet needs," said Yale president Peter Salovey. "The fund will foster the next generation of leadership in innovation and help to translate Yale discoveries into real-world applications that can improve people's lives."