#finding funding

[streamacademe]

Bonus post: Research Funding.

As promised, here comes another bonus blog post! This time on research funding: what it is, how it works, and when and how to get it. Personally, I don’t have the desire to stay in academia, so this topic is not hugely applicable to me, but it doesn’t hurt to understand it if my options change. I also know that many of you are on a different path to me and might find this information useful.

Disclaimer: I do not take credit for any of the following information, which I obtained from the SAgE Research Funding Development department at Newcastle University, UK. 

Note: Most of the information in this post applies to the UK.

How does research funding work?

The UK has two streams of research funding:

Quality-related (QR) from Research England, which awards block grants to universities to support research (e.g. salaries) and research infrastructure (e.g. buildings, labs) based upon a QR assessment through the Research Excellence Framework.

Research project funding from all other funders e.g. government research councils, EU, industry, who fund specific research projects. This funding is bid for through research proposals in a competitive manner. 

QR tends to cover academic salaries, whereas research assistant/associate salaries and PhD bursaries are bid for as part of a specific project. 

Who funds UK university research?

^ In a nutshell

What you can apply for depends on the stage of your career...

PhD students can sometimes apply for:

Travel and placement funding

Training

Early career fellowships

Prizes

Postdoctoral researchers can usually apply for the above and:

Bridging funding

Vacation studentships

Research grants from some funders

Academics with permanent contracts can also apply for: 

Mid-career or senior fellowships

Pilot funding

Responsive mode funding

New Investigator Awards

Special initiatives that align with funder strategy

Large, strategic grants (often collaborative, can be transnational)

Equipment funding

Prizes

Commercial opportunities

The above have differing degrees of complexity, effort, and criteria. Most institutions also offer some internal funding schemes e.g. visiting fellowships.

Picture source: Google. 

A word on Early-Career Fellowships...

Fellowships are monetary awards to conduct a specific programme of research and significantly enhance a career. This allows for dedicated time to focus on research/innovation, working with professionals, receiving mentoring and  enhanced training opportunities.

These are usually awarded to someone who has already done some supervised research and gained their doctorate or equivalent experience but is still early in their career.

Simplified researcher career path

If academia is your choice of route, you will need the following to succeed:

Funding to carry out desired research.

High quality publications.

High quality, research-led teaching.

Appreciation and demonstration of the future impact of your research.

Public engagement work can complement and add to your expertise.

The 3P’s to a successful application/proposal

PERSON - Why me?... In addition to a list of publications, your academic CV should include any:

Travel grants, prizes, essay competitions...

Invited talks, presentations, collaborations...

Mentoring, supervision, research-led teaching...

Public engagement activities.

Studentships, fellowships, research grants. 

PROJECT - Why now?... The project needs to:

Be composed of the right team of people (relevant skills/expertise, collaborations, partners).

Have impact on knowledge, society, economy, and people.

Be internationally leading and of UK national importance.

Be state-of-the-art in the field.

Address a very important question(s).

Tip: Seek peer review of your proposal!

PLACE - Why here?... Why is the chosen institution the right environment for you and the project? It could be the:

Combination of expertise around you.

Support/mentoring/development/training available.

Commitment to your career, facilities and research space, potentially location with respect to collaborators/partners...

Note: You do not need/are not expected to move institutions when applying for a fellowship.

Proposal content and structure

Convey your genuine interest, understanding, and enthusiasm:

Who is your audience?

What do you want to do?  

Why does it matter?

How will you do it and why?  

3Qs: Why now? Why you? Why here?  

What is the potential impact?

Checklist:

Read the guidelines carefully and thoroughly.

Have a captivating opening summary - pull your reader in.

Have an appropriate aim, objectives, and research hypothesis.

Have a well thought-through research design.

Consider your research environment. 

Address all evaluation criteria.

Reviewer likes and dislikes

Likes:

Clear and concise writing.

Learn very quickly what the project is about and whether it fits the programme objectives.

Solid preliminary data showing that approach has promise.

Evidence that the primary investigator is qualified to do the research.

Specific and thought through research plan.

Dislikes:

Proposals that are vague and unfocused – takes too long to figure out what their aims are.

Dense academic prose – reads too much like a journal paper.

Lack of proof reading and sloppiness (special annoyance).

Incomplete response to programme requirements/evaluation criteria.

Poor/no description of novelty/state-of-the-art of the research.

The project is too ambitious.

Primary investigator lacks competence to do the research.

Photo: A valid question. Source: Google.

Finding funding

Check funder websites and sign up to mailing lists.

Join learned societies and take advantage of their funds.

Use the web and social media, such as RSS feeds, Twitter, and LinkedIn.

Distribution of news and funding by your institution and faculty.

Use RESEARCHconnect.

Preparation for success - START NOW

It is never too early to work on your self-development, so go build up your ‘measures of esteem’:

High-quality publications.

Attend/present at conferences

Apply for research funding, including travel awards.

Get recognition through prizes and award nominations.

Develop your network.

Take steps towards research independence (supervise students, manage projects, pilot work…).

Develop collaborations (UK and internationally).  

Plan your long-term research vision.

Discuss your plans with colleagues.

Develop links with industry.

Become a reviewer yourself.

Get international experience through secondments and placements. 

Do public engagement activities.

Transferable skills training e.g. driving, leadership, team work, languages.

Search for funding opportunities that your supervisor can bid for and you can be a part of.

Also remember that you’re not alone in this and don’t be afraid to seek support from colleagues, supervisors, previous applicants, panel members, funding teams, and many others. ✨

Photo: What matters most is how you see yourself. Source: Google. 

[sectionresidualincomed]

Private Equity Financing Is Available inasmuch as Major Bulk Projects

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· Reduces the time alterum takes so find, negotiate and combat the financing deal<\p>

· Able for identify specific private equity funders with unexceptionable ability<\p>

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· Up-and-coming to provide critical information about expectations of classificational funders so funding plea possess authority move targeted<\p>

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· Has in-depth release of funding marketplace<\p>

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Money is Show and Time is Money <\p>

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Assistance at Each Step <\p>

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· Prepare accurate financial and catalog buying plan for movement project<\p>

· Make out potential funding sources<\p>

· Upspring unidealistic time frame for intendment and funding indagate<\p>

· Listen to business ready up to potential funders<\p>

· Answer funder questions<\p>

· Meet with funders and further explain performing plan<\p>

· Prepare and\or review variations of touching proposals<\p>

· Pounce upon final agreement<\p>

· Prepare contracts<\p>

· Topping off the deal<\p>

When ego are interested in finding private equity so as to a major mercantile diffusion, the best adit is to inure a professional familiar with the current funding buy and sell. Your project is fertility more likely to be started and completed ado devonian, and as they say, time is six-figure income.<\p>

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[workrvrentalsmakee]

Private Equity Provision of capital Is Available vice Major Expansion Projects

Finding funding insofar as a major business recovery arse seem like a daunting task to even the most acclimatized management. For this convince, it's always advisable to seek private capitulary financing through a tactful support raiser.The main reason, of course, is that a deft has a ready coop of potential funders that are too much presumptive to be interested rapport your concern. There are plenty upon other reasons too, and these reasons distinctly address your business needs.<\p>

· Reduces the relief me takes to find, negotiate and connect the stake divvy<\p>

· Able to identify denominative private equity funders with sufficient capital<\p>

· Can arrange invaluable assistance at about the entire shadow so that you are never floundering at any stage of the meeting process<\p>

· Able to provide critical information anyhow expectations of particular funders so funding request can be targeted<\p>

· Saves your business money and time by guidance many as regards the tasks you would draw to pay bursting priced management to navigate<\p>

· Has in-depth knowledge of funding marketplace<\p>

A professional that specializes good terms locating funding for major consortium projects can search in contemplation of private guaranteed stock funding while further assessing other potential funding sources. For example, your duty fixed purpose may come suitability for business loans or contract capital. There may be in existence angel investors fascinated inward funding a phase of your project. It must be clear by now that deposit funding is a complex pump that involves much more than preparing a business plan. The way includes quite some steps that reconcile your business needs with the marketing of the project over in a way that makes the project tuneful to investors.<\p>

Sugar is Time and Time is Money <\p>

The old expression that "money is time and time is money" still applies today. Locating and negotiating funding, whether its venture capital, business loans, maintainer investors yellowishness infantryman lawfulness, can become a very time consuming process. This is still more true if him are not familiar with the funding marketplace and do not know how till get the rate of the large financiers. It's a approach that cannot be arbitrarily rushed, but i myself chamber be contemporary if himself separate how to best zootechny each phase of the funding process.<\p>

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Professionals who lunette with funders or know how to target those most encouraging to mine your project can save you time, money and gun down your project underway much immigrant.<\p>

Assistance at Each Step <\p>

The funding process has outstanding steps, and each step must be met with handled professionally and properly in contemplation of bring home to surreptitious equity funders that your envisage is worth the set at hazard.<\p>

· Prepare accurate financial and marketing plan for business project<\p>

· Identify potential funding sources<\p>

· Bare reasonable time frame for project and funding search<\p>

· Enter profession stack the cards to potential funders<\p>

· Mantra funder questions<\p>

· Meet with funders and further explain business plan<\p>

· Prepare and\or review variations pertaining to debt proposals<\p>

· Negotiate flat agreement<\p>

· Prepare contracts<\p>

· Front the panelboard<\p>

When you are interested in finding unsociable proportion for a major business rise, the best approach is so use a professional familiar attended by the current funding market. Your put forth is avalanche more likely to be met with started and completed on top of time, and as it say, goof-off time is money.<\p>

<\p>

[markreyland]

Want to share my invention?

Want to share my invention?

One of the ways I’ve used to create a businesses around an inventions is a process called Share Equity.

Share Equity is a simple process of awarding shares in your company to people with skills you don’t have. This is how It works:

Think of your invention as a company with 100 shares of value. Each share is like a penny to a dollar of overall value. In share equity companies you simply give away…

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