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In this video, Veronica from Michigan Medical School's Office of Research explains the key details of cooperative agreement funding mechanisms, specifically NIH U-type grants. She emphasizes the significant role of funding agency staff in these agreements compared to typical NIH R-type grants. It is important for applicants to understand the differences, as cooperative agreements are designed to support investigator-driven research and involve greater scientific and administrative participation from funding agencies. Veronica advises prospective applicants to be fully aware of these aspects before applying for a cooperative agreement award.