The K99/R00 award supports postdoctoral researchers in transitioning to independent faculty positions, providing up to 5 years of funding for mentored and independent research phases. Eligibility includes being in postdoctoral training, having a terminal degree, and not holding a faculty position, with the R00 phase contingent on securing a faculty role in the U.S. Various NIH institutes are involved, and applicants are advised to focus on a strong training plan and track record of publications.