What are Corporate Research Grants?

Tuesday November 6, 2012

Elite Research answers the question: What are corporate research grants? Elite Research is a global provider of research design and statistical consulting. Elite Research supports academic, corporate, medical/health, and nonprofit researchers in designing, collecting, analysing, and reporting efficient and accurate results.

Unfortunately, research funding has been steadily decreasing over the past several years, and the current economic state has only made the situation worse. Finding money to fund research projects can seem almost impossible at times, especially when you consider how many researchers are vying for the ever-decreasing amount of government grant money that is available. In addition to government grant money, another option for researchers is to look to corporations for research grants.

Corporate research grants are monies given by corporations to finance research projects. Corporations and foundations are overtaking government agencies in terms of funding research. According to Washburn (2007), “[i]n 1965, the federal government financed more than 60 percent of all R&D in the United States. By 2006, the balance had flipped, with 65 percent of R&D in this country being funded by private interests” (n.p.). It is important to remember, however, that corporations are just as specific about what fields they give grants in as are government agencies. In addition, corporations approve grants on projects that will eventually turn into some sort of profit for them; they are not in the habit of giving money away that will have no return for them! Therefore, if you are thinking about applying for a corporate grant, you should consider the products and interests of the corporation to which you are applying to see if your research project is in line with the goals of that corporation.

In recent years, corporations have been trying to improve their public images by funding “feel good” research; corporations want to be seen as making a difference in the environment, in the lives of children, etc. Corporations often specify on their company webpages what types of research they are interested in, what areas they are giving grants in, who can apply for grants money, and how much they are giving.

Researchers need to spend quite a bit of time doing “homework” on potential funders if they want to be successful in getting the money they need to do their research. When approaching corporate funders, researchers should be prepared to make small tweaks to their proposals to make the proposals fit better with corporations’ interests and, most of all, to apply to a lot of funders because the competition for research funding is tough.

Contact Elite Research today to get reliable help with all of your statistical, research, and editorial needs! http://eliteresearch.com/ or (800) 806-5661.

Washburn, J. (2007). Science’s worst enemy: Corporate funding. Discover Magazine Online. Retrieved from http://discovermagazine.com/2007/oct/sciences-worst-enemy-private-funding

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