The National Institutes of Health has unveiled a $1.5 billion “Shark Tank-like” initiative to rapidly develop coronavirus diagnostics. The effort could lead to the deployment of “millions of tests per week” by late summer or fall, the agency claims.
The project relies on a “national COVID-19 testing challenge,” in which scientists and inventors developing coronavirus tests across the country will compete for a share of a $500 million pool earmarked for diagnostic development. Successful entrants will get paired with manufacturers and business leaders who can speed up production of resulting tests.
“Shark Tank” is a television program in which capital-seeking entrepreneurs pitch business partnerships to a panel of five investors, or “sharks.”
“We need all innovators, from the basement to the boardroom, to come together to advance diagnostic technologies, no matter where they are in development,” the agency noted.
