The National Institutes of Health (NIH) Director's Pioneer Award (NDPA) was conceived as a novel way of funding biomedical research. STPI analyzed the NDPA selection process in the first 5 years of the program, using NIH administrative data as well as collecting survey and interview data from program stakeholders. STPI tracked the evolution of NDPA design and implementation, highlighted key characteristics of program participants, and summarized participants' perceptions about the program. These analyses collectively informed STPI's overall assessment of the NDPA and key recommendations for future years of the program. While the success and broader impact of the NDPA program will be further examined by STPI as part of an outcome evaluation, based on the findings of this process evaluation, it appears that the NDPA program processes are working as designed and are adding value to the NIH's portfolio of research activities.