Types of Funding Opportunities
There are many types of funding and grant opportunities available depending on your research.
- Grant: financial assistance/funding for a specific purpose, such as research, travel, running a conference, developing curriculum, instituting a consortium, or finishing a dissertation or book. Grants typically have reporting requirements, but they do not require deliverables or prototypes.
- Fellowship: funding for an individual (typically a postdoc, graduate student, or professor) for either a field of research or a particular project, depending on the funding agency terms and conditions.
- Research gift: funding for a general area of research, not a specific scope of work, and can not include requirements for reports, intellectual property rights, or any other quid pro quo.
- Cooperative agreement: similar to grants, but the agency has more input into the type and progress of the research compared to a regular grant.
- Contract: funding for a specific project (for federal contracts, it is classified as “acquisition” funding), and the contract may specify deliverables, milestones, and go/no go decision points. Payments may be based on the submission of deliverables.
Most common sources of funding:
- Federal funding is typically awarded as a grant, cooperative agreement, contract, or fellowship.
- Industry funding is typically awarded as a contract, although companies award grants, gifts, and fellowships.
- State and other governmental funding is typically funded as grants or contracts.
- Corporate foundation and non-profit organizations typically award grants, gifts, or fellowships.
- Individuals typically provide funding as gifts.
Adapted from Grant Life Cycle | Research UC Berkeley. (n.d.). Retrieved October 20, 2023, from https://vcresearch.berkeley.edu/grant-life-cycle/overview