Fast Grants seek to get funds in the hands of COVID-19 researchers within 48 hours

April 14, 2020

Philanthropists have banded together to provide “lightning-quick research grants to COVID-19 researchers” through the organization Fast Grants. The initiative was reportedly inspired by the World War II-era National Defense Research Committee. “Usually it takes months for researchers to receive grants,” said Shopify Inc CEO Tobi Lütke, who committed $5M to Fast Grants with his spouse Fiona McKean through the Thistledown Foundation. “We can get money to them in 24 hours. This is the speed by which everything must happen.” The grants range from $10K to $500K in value and are focused on research expected to have an impact on the pandemic within six months. The first grant awards were issued over Easter weekend, and the Business Insider reports that grant applications will be decided on within 48 hours of receipt. Lütke expressed hope in an interview that the Canadian research community would respond to the call for grants. Globe and Mail (Account Required) | Business Insider (National)