There are various types of funding available to researchers and they can come from different sources such as commercial funders (industry and private companies, both national and multinational) and non-commercial funders (research councils, government departments, charities, etc.). To help you understand the distinction between the two types of research funding, this article will provide some relevant information about them.
Commercial Research Funding
Industry and private companies. The private sector and the industry fund a wide variety of activities. Therefore, it is important to have a good understanding of the market context when entering into negotiation with these two entities.
For Singapore research funding, such market context may include one or more of the following: understanding the position of imperial and the investigators within the wider market, taking advantage of opportunities, having enough knowledge about the competitors, minimising threats and risks, knowing the value of the research to business, understanding the funders’ ability to pay and willingness, and taking into consideration the different services for competitive edge.
The industry and private companies usually have their own negotiators who liaise with various sectors about the funding’s terms and conditions. The contract negotiation often focuses on the requirement to retain the academic freedom to disseminate knowledge and ownership of background, as well as the concerns related to intellectual property rights. With all these matters, the process of negotiation takes a lot of time to be completed.
Non-commercial Research Funding
Research councils. The annual investment of research councils for a certain study is very high especially for the fields of medical and biological sciences to astronomy, chemistry, physics, engineering, economics, the arts and humanities, and social sciences. The funded project’s goal, balance, and scale reflect the national research priorities agreed by the stakeholders and the research councils in consultation with the government.
Government departments. There are a lot of government departments that offer significant funding for a wide variety of research projects. These research activities may include one or more of the following: the delivery of transport system in a reliable, secure, and safe way that responds efficiently to the needs of the public and businesses while safeguarding the environment; programmes on the food, environment, and rural affairs; and the national programmes that investigate a broad range of healthcare issues including the funding provision to support the education and training of future health researchers.
Charities. As for the research charities, the most important factor to consider is how the study will be beneficial for the good of the general public. This only shows that the independent stream of research funding given by charities is very important since it complements the objectives of the various departments of the government and the research councils.
There are several research funding charities covering a wide range of aims and all of them are regulated by law that must adhere to specific restrictions and obligations when using charitable funds for research, no exemption even for research grant Singapore. For example, a prohibition on funding research for the purpose of commercial or private gain and the requirement to disseminate research findings.