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Veronica from Michigan Medical School's Office of Research explains the key aspects of cooperative agreement funding mechanisms, specifically NIH U-type grants. The video emphasizes the increased involvement of funding agency staff in cooperative agreements compared to typical NIH R-type grants. Cooperative agreements aim to support investigator-driven research, necessitating a clear understanding of their structure before applying. Veronica highlights best practices for the application process and underscores the distinct differences between cooperative agreements and standard grant funding. Throughout the presentation, she will refer to NIH cooperative agreements for context.