Pause this very minute and take a good look around the world. You need not be totally observant to notice that the world is driven at an astronomical pace. This drive most especially hinges on the great researches that are carried out on a daily basis. A research scientist and inventors in the past centuries may not have had it so easy as we do these days, this is mainly due to the fact that most, if not all, expenses was laid on their burden alone. Living in a time where many people hardly favored or believed in the possibility of researching or inventing something that could change the way the world works, should have been another hurdle they probably had to tackle. |
Fast forward to this present day and time in the 21st century and you’ll no doubt agree that it is commonplace to find researches being carried out. Universities, colleges and technical institutions spend billions of dollars yearly towards this particular course. This is not because they do not have other things or places to invest this cash in but because they believe in the greater good of humanity and have a passion for creating researches that’ll forever alter the course of our history. There are a lot of researches being carried out in different academic fields all over the world.
Private and government agencies and organizations have contributed immensely towards providing funds for these researches. Most researches would have kissed the gutters by now if not for the assistance of these agencies and organizations. Proper funding can be the thin line between success and failure of most of these researches and it is for this reason that grants are put in place. If you are in the academic field you surely would have heard of these research and development grant . Academic institutions encourage researches to be carried out by their students and teachers by providing a yearly research grant to them.
Too often, these academic institutions and organizations may run the risk of paucity of funds. For this reason most of these organizations encourage combined researches in groups. This is to say they bring together people working on similar researches to combine their knowledge to finding a solution. This way both sides tend to win as the organization can save up cash for other research and the research team get to work with the best brains in the field. International research grants are also given to bring other researchers from different parts of the world to get them to work together. Depending on the agreement signed when the grant is given, researchers may or may not be carried out in more than one laboratory or even country. Before any grant is given, both parties have to come to an agreement of some sort. A yearly grant is given to facilitate the research for a given year. All budget cost for that year is usually estimated and a feasibility grant is permitted that will cover the research cost for that given year. Depending on the type of grant, most grant start from $2000 to hundreds of millions of dollars.
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