Part 2: University Research & Federal Sequestration
58 US Nobel Prize recipients were so alarmed by the “cuts” (Federal Sequestration) that they reached out to Congress to save funding for science and provide a pipeline full of younger generations of scientists.
Out of necessity, researchers are pursuing alternative sources of funding to supplement basic and ongoing research. University options include partnering with successful industry partners under what is known as an” umbrella agreement” to monetize research. Basic research is important as it leads to innovation, creates economic, political and social security in our nation. However, early stage research takes years and companies are more vested in how research progresses. Corporate partnerships are a viable alternative, such as with a pharmaceutical company for late stage medicinal and pharmaceutical research. These alliances between institutions of higher learning and corporate America provide a set amount of funding per year on projects of mutual interest. Industry provides a challenge and research tries to address it with a practical solution. Researchers are also increasingly applying for more grants through non-profits for a variety of illnesses. Two such examples are the American Heart Association and the Society of Hematology. These co-operative alliances not only provide a source of funding but also of inspiration! There are also a number of state and local agencies which deal with state-specific science policy and provide additional funding.
How will the future funding of scientific research be resolved? I will share my thoughts next week as I finish up this three part article. Please let me know what you think in the comments below or join the conversation on LinkedIn.
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