Genome BC’s co-funding approach to research investment follows neither a government-only “granting council” model, nor an industry-only “portfolio management” approach. It is a unique approach that relies on collaborative research agreements and commitments to milestones and outputs, a model perhaps best described as “contract” research.
By working collaboratively with government, academia and industry, Genome BC’s goal is to translate the excellent research carried out in universities into applications that will ultimately generate social and economic benefits for BC and Canada.
Genome BC’s Role
- Distribute funds and monitor financial expenditures
- Monitor progress toward milestones and deliverables of the research project.
- Capture the impacts of the project to understand the outcomes and benefits to BC
The Project Team’s Role
- Ensure the Project stays within its approved budget
- Report any changes to milestones, deliverables and project activities to Genome BC for approval
- Maintain legal and regulatory compliance of research activities