We are witnessing the rise of a new science of biological computation. Biological computation uses a deep understanding of biological - evolutionary, adaptive and regenerative - processes to increase the range of applied mathematical tools and computational techniques available for any science or technology. At the same time the flood of data in the life sciences offers unprecedented opportunities for knowledge-rich computations. This will require new structural and functional frameworks, abstract process models, in silico simulation models to query theoretical assumptions, and other approaches. Theoretical work is different from experimental work and data analysis. It flourishes with independence, open discussions and feasibility studies, a disconnection from predicted outcomes and the opportunity for unconstrained creative thought. Theoretical work is not expensive, compared to the labor and equipment needed to acquire the data. We aim to offer annual fellowships for PhD level researchers with a strong quantitative background, selected for passion and excellence, as well as case-by-case support for individual projects as a resource for experimental biologists.