Have you turned your energies toward writing grants and articles while quarantined at home during the past few months? That’s wonderful—an efficient use of your valuable, limited time! After all, undisturbed writing time will be hard for you to find once your office or lab opens again. But, by that time, you will have articles and grants ready to submit, so you are ahead of the game!
Or are you? Because it is a safe bet that pretty much every other researcher has been spending their time the same way.
More articles and grants are likely to be submitted to publishers and funders over the coming months. While e-publishing and preprint servers will provide outlets for article publication, grants are another matter. Available grant funding has not increased, unless you work in a COVID-related area, so more grant applications will be in competition for funding in the coming months.
[The week’s new funding opportunities from the NIH can be found here every Friday.]
In America, a recession began in February, and all indications are that businesses and academic institutions in many countries face some tough financial times in the coming months. Non-dilutive (grant) funding may be the lifeline for many small businesses that otherwise would have relied on venture capital, increasing the competition for funding sources on which academic researchers typically rely (e.g., R01s). Similarly, SBIR/STTR funding for small businesses and tech transfer collaborations between academic labs and small businesses, will likely receive more applications. Likewise, programs in Ireland, the Netherlands, and other EU countries with vigorous small business R&D support programs are likely to see an uptick in interest.
[New to finding funding? Here are five easy ways to get started!]
Now that the pool of competitors has increased, grant seekers will find that the enlarged pool of applications will make the already competitive pursuit of grant funding more fiercely competitive. Grants have always been competitive, and simply crossing the finish line of providing all of the information required by a Funding Opportunity Announcement (FOA) does not necessarily put an applicant in the running for a grant, let alone in competition for one.
Competition can be fierce and success rates low, but that doesn’t mean researchers and small businesses shouldn’t compete for funding. It means applicants should approach the process with solid strategy.
Focus your efforts on research ideas you think will be the most competitive and pick the funding sources with which your research best aligns. Take advantage of the resources your institution provides, including statisticians, data specialists, and, of course, medical and scientific writers and editors who can help you refine your proposal. And, of course, stay current with changes being made to programs and the application process.
Take the time to communicate with the personnel of the agency or foundation to which you are applying. They can provide you with insights into how the award process within the agency has changed, the funding available, timelines, and what to expect overall.
Last, but not least, if you are working on tech transfer to develop a startup, think about how the supply chain and work restrictions of the academic institution and business may impact the balance of work required by the STTR program. And, while we cannot predict a second wave of COVID-19, do realize that funders will require you to provide them with a thoughtful plan outlining how your proposed project will move forward should that second wave happen.