How To Fund Research

7 December 2021
 Categories: Technology, Blog

Share  

A challenge you will experience when writing research is that you may not have the cash needed to fund your research work. Given the impact of your work, you might need a partner to fund your research work. However, if you do not work for a particular institution, you might have trouble finding someone to fund your project. If you happen to be in this predicament, read this guide for some ideas. 

The Government

The government is probably the largest donor when it comes to funding research. Usually, government agencies rely on research to make policy. Therefore, if your research deals with government policies, you could seek funding from the relevant agencies. When pitching, demonstrate that your project will significantly affect the public. For instance, it could be that the research will improve service delivery, save money or improve the quality of life. 

Private Sector

The private sector could also fund your research if they are convinced it will affect how they conduct business. The truth is that companies will be interested in any research project that improves their profitability. For example, it could be that your research work investigates the efficiency of a new and improved manufacturing process or aims to improve a company's approach to PR, marketing or human resource management. It is essential to understand the funding agreement when dealing with the private sector. For instance, a company could prohibit you from publishing the research work. In some cases, they could ask you to work with them for a specified period. 

Think Tanks

Think tanks are policy institutes funded by the government, private sector or international bodies to conduct research or advocacy on a particular issue. In most cases, think tanks will be ready to fund your research if it resonates with their core mission. Typically, the primary objective of the think tank is to influence policy. Therefore, it would be wise to inquire how the organisation will use your research before accepting the funding. 

Professional Associations 

The main objective of professional associations is to advance the professions they represent. Usually, professional associations will fund your research project if it significantly affects the trade. For example, a nursing association might be willing to fund a research project investigating how nurses can improve their productivity or how they can judge patient attitudes. 

The government, private sector, think tanks and professional associations can help fund your research work. Before seeking funding, prepare a watertight pitch and gather facts about the research project. 

For more information, contact a research company such as BIRAD Research and Development Company LTD.