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Alfred P. Sloan Foundation Professional Science Master’s Initiative
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PSM Provisions of the American COMPETES Act
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Sloan initially provided $125,000 per institutional program track for startups in research universities. Later, as there was accumulated knowledge as to how to launch a PSM track, the amount per program dropped to $90-$100,000. Still, later, when the Master’s granting institutions were competing, the amount per program was $40,000 per track.
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The NSF Director shall award grants to 4-year institutions of higher education to facilitate the institutions’ creation or improvement of professional science master’s degree programs.
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Programs typically have industry advisory boards.
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Programs may include linkages between institutions of higher education and industries that employ science-trained personnel.
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Programs see potential employers as industry, government agencies, and nonprofits.
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Programs are required to have a summer internship.
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Fields in the physical sciences, biological sciences, mathematics, and computer science. A particular effort was made to identify 12 bioinformatics programs. The scientific focus of a program track was identified by the institution. Very often they are interdisciplinary in nature.
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Programs should focus on high-need fields.
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PSM programs include a “plus” component that focuses on workplace skills: communication, project management, interdisciplinary teamwork, ethics, and—as appropriate—business, legal, or computational skills.
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Programs should have an emphasis on practical training and preparation for the workforce.
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