What are the disadvantages?
As our research showed, grants were most likely to be awarded for:
Making the project more complete. Grantees will have more data which they can use to make more accurate decisions about the project’s outcome
Giving a project a chance to mature in the public interest. Grantees are much more likely to have their projects accepted for funding if they are already in progress
Evaluating projects through the research process rather than through the grant process
Fostering innovation. Grantees are likely to experience increased support for research if their project is able to gain experience through the grant process (as opposed to an early termination due to lack of results)
What are the disadvantages of grants?
Unlike most other public funding opportunities, a grant is very difficult to complete. The process can take years, meaning there is no guarantee that you’ll receive the grants you’ve agreed on or that you can get your project moving forward.
Also, unlike most other public funding opportunities, your grant application will be subject to selection and feedback by both the department, grantee, government agency and outside organisations. Even if you have received an acceptance letter from the department within the grant period, the department’s response to your application is likely to change after the grant has been granted.
There are more than a few departments who have stated that if you’re applying to be a grantee, you’ll need to submit your application on time and in writing.
Is it worth getting a grant?
Despite the advantages of grants, they aren’t without their weaknesses. They can be quite expensive with costs increasing annually with the cost of living. However, once you’ve received grants, you’ll have the ability to start taking a project forward much more quickly to see if you can obtain a position at your desired research centre.
To get the best results when applying for grants, be sure to choose an area of research with a strong history and track record, such as:
Molecular and biological sciences
Humanities, Social sciences, Media and Entertainment
Industrial, Organizational and Social Sciences
The number 3 position is very high up on the list. Grants can often provide important and well-rounded support to a student, helping them to develop into the researcher they want to be. However, they may also have some drawbacks, including (but just as easily) being over
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