The University of South Florida secured a record $738 million in research funding during fiscal year 2024, marking a nearly 7% increase from the previous year and a 35% rise since 2022.
The funding total includes contributions from federal agencies, private partnerships and state and local entities. Federal sources accounted for 58% of the total, or $429 million, with significant support from organizations like the National Institutes of Health, the National Science Foundation and the United States Department of Defense. Private partnerships contributed $242 million (33%), while state and local agencies added $67 million (9%).
USF’s core research in medicine grew by $53.4 million, with 100 researchers receiving more than $1 million each, in funding—a 20% increase from the previous year.
The new funding record brings USF closer to its goal of reaching $1 billion in annual research funding, by 2030.