Benefits of collaborating with an academic partner when applying for Grant Funding
Applying for grant funding can facilitate collaborations with unique industry, research and academic partners to help deliver world-leading innovation projects. These collaborations open up access to new technologies, strategies and expertise – further enhancing results for your business.
With the growing complexity of problems needing solutions, universities can supply a new or different perspective to your product, process or answer and potentially offer more time to reflect onconsideration on the problem and published literature.
Not only can lecturers provide you with their expertise, but they can also provide the use of facilities that could transform your innovation into an industry-leading technology. Without their partnership, this probability may have otherwise been closed.
Partnering with universities can also supply a potential avenue for recruitment. Postgraduates could be involved in your assignment as research volunteers but could evolve into section of the team if you see fit. Recruitment is a costly and timely method so having the option to employ someone who already has some information of what you are trying to achieve could be an introduced bonus of working with an academic partner.
Three different ways enterprise can work with academia:
- Collaborative research- lowering costs and reducing overheads. However, you want the right to publish. Data and research generate profit for universities, so some thing produced in this collaboration will be co-owned, meaning a contract would need to be drawn up between the company and the university.
- Consultancy- the college can advise and offer guidance on the project, however the company owns all IP and results and does not want the right to publish. One thing to keep in thought is major deliverables in peak times of the educational year when lecturers will be dedicated to their teaching duties and will not have the time or resources to focus on the project.
- Sub-contractor- universities concerned with your project will not be classed as a partner and handing over results can cause implications on the % cap.
Academic companions have a lot to offer and can help to strengthen and create a strong argument for your application, but effective project management is crucial in this collaboration.
There are many different factors that will enhance your chance of grant funding success, utilising the experience and know-how of a grant writing professional can help to make this system as smooth as possible.
If you have a disruptive enterprising project or innovation, why not contact us? A brief chat with one of our innovation consultants will help you determine whether grant funding could get your project off the ground.
Why use grant funding experts?
Although there are many benefits to seeking grant funding, the thought of applying can be confusing, time-consuming and stressful. Using the creative and technical skills of a professional Innovation grant writing consultancy will strengthen your business in translating technologies and business models into a language and format assessors understand; increasing the chance of success. If you have a disruptive ambitious project or innovation, why not contact Capti Innovation.