The Notice of Funding Opportunity (NOFO) issued by the National Institutes of Health (NIH) focuses on developing early-stage biomedical data repositories and knowledgebases through grant R24, which does not allow clinical trials. The initiative aims to enhance the biomedical research community's capability by supporting the establishment of new data resources or significant modifications to existing ones while adhering to the FAIR data principles. Key aspects of the funding initiative include a maximum budget of $350,000 per year over a project period of up to four years, with application submission deadlines from September 30, 2023, through January 25, 2026. Eligible applicants encompass a wide range of institutions, including higher education institutions, nonprofits, and foreign entities. The application process requires the submission of a detailed research strategy and project management plan, emphasizing community engagement, governance, and quality control. Applications must clearly define whether they propose a data repository or knowledgebase, as NIH distinguishes between these two categories. Through this funding opportunity, NIH aims to build a modernized biomedical data ecosystem, contributing to impactful research outcomes and addressing the needs of the scientific community.