Genome Quebec launches new competition

Genome Québec is aiming to funnel $30 million into applied genomics/proteomics research in the province with PRIVAC, a new $10-million competition for mixed academic/private initiatives. Successful projects must secure one third of their financing from a private company and a minimum investment of $2 million is required. The objective is to fund between six and 10 projects. Other eligible funding partners include the federal government, international research funding programs, patient associations, charitable organizations and other private foundations. Genome Québec's portion of the funding ($10 million) comes from the Ministry of Economic Development, Innovation and Exports and must be used at Quebec-based universities or research centres. If the research results in a discovery, the benefits will be shared between the university, the pharmaceutical company and Genome Québec, with the latter reinvesting its profits back into research projects….