Howard Hughes Medical Institute investigator model
The Howard Hughes Medical Institute began appointing investigators for seven-year terms, funding people rather than specific projects. Investigators were free to change research direction without re-applying for grants.
A study by economists Pierre Azoulay, Joshua Graff Zivin, and Gustavo Manso found HHMI investigators produced about twice as many highly cited papers as comparable NIH-funded scientists — and more flops.
The model became a benchmark for patient capital in science, showing that tolerance for failure correlates with breakthrough output.
China's 15-year grants adopt the same 'people, not projects' logic, betting that long horizons and failure tolerance produce breakthroughs.
