The National Center for Advancing Translational Sciences (NCATS) met recently for the first time and focused much of their discussion on funding concerns and the challenges that the Center must meet. The Commissioner of the United States Food and Drug Administration (US FDA) was in attendance and expressed US FDA's support for NCATS' mission.The Deputy Director for Science, Outreach, and Policy of the National Institutes of Health Cures Acceleration Network reported that the Network has been granted "other transactions authority" similar to the Defense Advanced Research Projects Agency and with this designation hopes to enable the Center to develop new colloborations with industry and research organizations. Other speakers including the Associate Vice Chancellor for Clinical and Translational Research of Vanderbilt University and others from the Clinical and Translational Sciences Award Program indicated they would be a resource to NCATS and NCATS committed approximately $10 million for FY2013 to fund up to 18 awards in response to recently released funding opportunities. Applications are due January 8, 2013.