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Veronica from Michigan Medical School's Office of Research discusses the important details of cooperative agreement funding mechanisms like an NIH-U-type grant. Cooperative agreements involve substantial support and involvement from the funding agency staff. It is crucial to be aware of the differences between cooperative agreements and typical grant funding mechanisms like NIH-R-type grants before applying. Cooperative agreements aim to support investigator-driven research, leading to greater scientific and administrative involvement from funding agency staff compared to standard grants like R01.