The Common Fund Venture Program is a new area of Common Fund support that provides a framework for development of short-term Common Fund initiatives that embrace bold approaches and are responsive to the shared priorities of NIH Institutes, Centers, and the Office of the Director.

Venture initiatives are Common Fund investments and so must meet Common Fund criteria, as expressed below. However, additional criteria also apply, emphasizing brief, modest investments that can be implemented quickly in response to emerging opportunities. Venture investments should be lightweight and nimble while having a strong potential to accelerate science quickly.

What makes Venture initiatives special?

• They are Bold: they are daring investments with potential for significant, outsized impact
• They are Nimble: they can be implemented rapidly in response to scientific opportunity
• They are Focused: they are limited to three years, up to $5 million annually to invest in a clearly defined research topic

What makes Venture initiatives consistent with the Common Fund?

• Common Fund criteria will apply to Venture investments, with accelerated timelines and nimble project management. Venture initiatives will be:
  • Transformative: projects have strong potential for exceptionally high and broadly applicable impact in biomedical/behavioral research
  • Catalytic: projects are time-limited investments of 10 years or less, designed to capitalize on new scientific knowledge or breakthroughs to accelerate and enable subsequent research
  • Goal-driven: projects include defined goals to develop specific deliverables (such as new knowledge, data sets, resources, methods, or technologies)
  • Synergistic: projects advance the missions of multiple ICOs, and are relevant to multiple diseases or conditions
  • Novel: projects pursue innovative solutions to specific scientific challenges important to the NIH mission but that no other entity is likely or able to address
• Venture initiatives are not:
  • Pilot programs to prepare for larger Common Fund investments
  • A means to address high-priority projects for individual ICOs
  • Support for exploratory, open-ended research without specific goals and milestones
• Governance:
  • Ideas for new Venture initiatives are submitted through the ICO Directors to the Office of Strategic Coordination, which oversees the NIH Common Fund, leveraging public input as appropriate. Initiative idea submissions can derive from any areas of biomedical and behavioral research. All proposals are evaluated for responsiveness to the Common Fund and Venture criteria, and are considered by the Venture Board, made up of ICO Directors. Promising ideas are recommended by the Board for full development. The NIH Director provides final approval. Updates on the progress of each Venture initiative will be described on their individual website. 

What is the Venture Advancing Non-Invasive Optical Imaging Approaches for Biological Systems (NIOI) Initiative? 

The Common Fund Advancing Non-Invasive Optical Imaging Approaches for Biological Systems (NIOI) Venture Initiative aims to develop next-generation non-invasive or minimally invasive optical imaging techniques to overcome the problem of light scattering in biological systems. Enhanced imaging techniques can make possible earlier detection of conditions, more precise evaluation of cellular and tissue health, and advancements in non-invasive or minimally invasive procedures, ultimately improving patient outcomes and reducing the need for more invasive methods. 

What is the purpose of this announcement? 

The NIH Common Fund, along with its partner NIH Institutes, Centers, and Offices, is planning to issue a Notice of funding opportunity (NOFO) to solicit applications for the Venture Program Advancing Non-Invasive Optical Approaches in Biological Systems initiative.

The goal of the Advancing Non-Invasive Optical Imaging Approaches for Biological Systems initiative is development of next-generation non-invasive or minimally invasive optical imaging techniques to overcome the problem of light scattering in biological systems resulting in high spatial and temporal resolution optical images at significantly greater depths within biological tissues than is currently possible.

This initiative will solicit 3-year bi-phasic research projects proposed in UG3/UH3 Phased Innovation Awards Cooperative Agreement applications. Funding for the UG3 phase will be used to demonstrate sufficient preparation, feasibility, and capacity to meet foundational milestone targets specific to the work proposed. A UG3 project that meets its milestones will be administratively considered by NIH and prioritized for transition to the UH3 award. 

What is the background of this research initiative? 

Major advances in medicine and biology have come from imaging techniques such as microscopy, X-ray, and Magnetic Resonance Imaging (MRI).  Methods such as MRI provide indirect measure of tissue function and have limited ability to capture changes at biological timescale. Current optical imaging techniques that are non-invasive and allow rapid assessment of tissue function and structure suffer from strong light scattering within biological tissues, limiting the penetration depth and resolution.  

This initiative will encourage development of next-generation non-invasive or minimally-invasive optical imaging techniques to overcome these issues and to allow deeper imaging of biological systems with high spatial and temporal resolution This will have a major impact on understanding complex biological mechanisms, diagnosis and longitudinal monitoring of diseases, and clinical decision-making.

Applications to this NOFO are expected to generate new knowledge and practical prototype performance in an appropriate biological model system. 

What is the estimated total funding?  

All applicants will be encouraged to submit a letter of intent.  Applications must reflect actual needs of the proposed project.

$4,900,000 total in total costs per year 

What are the expected number of awards? 

Three awards

What are the anticipated eligible organizations?  

Public/State Controlled Institution of Higher Education 
Private Institution of Higher Education 
Nonprofit with 501(c)(3) IRS Status (Other than Institution of Higher Education) 
Small Business 
For-Profit Organization (Other than Small Business) 
State Government 
Indian/Native American Tribal Government (Federally Recognized) 
County governments 
Independent school districts 
Public housing authorities/Indian housing authorities 
Indian/Native American Tribally Designated Organization (Native American tribal organizations (other than Federally recognized tribal governments) 
U.S. Territory or Possession 
Indian/Native American Tribal Government (Other than Federally Recognized) 
Regional Organization 
Eligible Agencies of the Federal Government

Applications are not being solicited at this time.  

Whom can I reach out to with questions about this announcement? 

Although we can provide only limited information prior to the issuance of the NOFO, please reach out to Jonathan D. Pollock, Ph.D. ([email protected] or [email protected]). Also, please consider signing up for the NIOI listserv to receive additional initiative updates.