Research Funding UK is a segment that is drawing a lot of attention these days as latest reports show that funding for research in the UK has crossed $300 million per year for the first time in the history of research funding.
Research Funding UK provides Research Fellows with funding for a wide variety of research ranging from Nano Technology to Cancer, the latter of course being one of the prime focus areas of Research Funding UK, as well as in most other countries.
Typically funding for research is obtained when a research scientist, Fellow or a group approaches funding Research Funding organizations or approval boards to aid them in their discovery of invention. Typically the source of Research Funding UK include
Research funding trusts: Trusts that have been developed to hold and disseminate money that is contributed by various people/agencies for Research Funding UK. These trusts tend to specialize in specific areas so they can be better placed to evaluate funding requests. People in search of research funding can send proposals to these trusts, where they are critically examined and funding given to the deserving candidates.
Individual philanthropic foundations: Many wealthy individuals, in their bids to ‘give back to their communities’ often establish foundations. Some of these foundations will typically be ready to fund research, provided it is research that is likely to ‘make a difference’ in line with the founders’ visions. One of the finest examples is the Nobel Prize, set up by Alfred Nobel.
Government Agencies: As most developed countries aim at investing in the range of 1.5 to 3% of their Gross Domestic Product (GDP) in research and development, research fellows could also approach the Government to fund their research, the UK being no exception to this.
Corporations: Companies regularly invest in developmental activities as a part of their Corporate Social Responsibility (CSR) and most large corporations have their own trust funds that are aimed at providing funding for deserving research.
However, if you think Research Funding UK is limited to charitable or non-profit oriented organizations, expect to be mistaken and big time because there are a lot of individual and institutional investors who are studying the measurable returns of Research Funding UK as an investment rather than a philanthropic gesture.
Over the years, we have seen a lot of multinational corporations investing in research and benefiting from it in the form of technology and discovery patents and it anyone’s guess when it would be before Research Funding UK will become a market Venture Capitalists will also begin to eye as a lucrative investment opportunity.