The medical informatics funding concept provides for increased training of young scientists in the data sciences. Digitization and medicine are rapidly growing fields of knowledge whose interfaces are leading to fundamental changes in healthcare and opening up new possibilities for patients in diagnostics, therapy and prevention. The basis of this digitization is medical data. In order to use the growing amounts of data in medicine in a meaningful way, digital competencies are needed in healthcare. By establishing new professorships, the SMITH Consortium is providing sustainable support for both research and teaching in medical informatics.