Research fundingLiikesivistysrahasto
Foundation for Economic EducationJohanna Vesterinen CEO, D.Sc. (Econ.)
Aalto University School of Business, Helsinki 17.12.2013
LIIKESIVISTYSRAHASTO Foundation for Economic Education
• In 2012 Finnish foundations promoted art and sciences by over 330 M euros
• Start-up funding, ‘second opinion’ for public funding
• Since 1919, the Finnish business sphere has been active in promoting higher business education in Finland through Liikesivistysrahasto – The Foundation for Economic Education.
LIIKESIVISTYSRAHASTO Foundation for Economic Education
• To achieve its goal, the Foundation provides grants to individuals and groups engaged in scientific research in the field of business economics.
• Moreover, the Foundation supports high quality business education projects with an international and/or domestic dimension.
LIIKESIVISTYSRAHASTO Foundation for Economic Education
LIIKESIVISTYSRAHASTO Foundation for Economic Education
• Our annual (2013) budget for grants is 3 million euros.
• The grants are rewarded upon application.
• According to Finnish Law, our grants are tax-free with some minor exceptions. The same is true for our investments as well as for donations.
• Most grants focus on scientific research carried out domestically and abroad within the international research community in the field of business economics.
• Also non-Finnish citizens’ high quality grant applications are considered in the Foundation’s grant application process, particularly if the application indicates support to the Finnish research and / or business community.
LIIKESIVISTYSRAHASTO Foundation for Economic Education
LIIKESIVISTYSRAHASTO Foundation for Economic Education
• The electronic grant application system should be filled in Finnish or English and the very essential one-page-long project description and all other information will be accepted in Finnish, English or Swedish.
Grant Supporting Elements in an Application
• The theme and research problem is, at least potentially, beneficial for the Finnish business environment
• The potential of the research to open new avenues for research or new business opportunities
• Based on the application only, it should be clear to which question(s) and how the applicant is seeking an answer
• The applicant’s previous (research) activities and her academic instructor’s statement are essential for PhD candidates
• The candidate’s success in presenting herself: Why should this grant be awarded to me?
LIIKESIVISTYSRAHASTO Foundation for Economic Education
Research Plan Should Include
• Name(s) of Researcher(s), Name and Place of Research Project • Background• Research Motivation• Methodology and Data Collection• A project schedule and total project cost information incl.
estimated completion • Research collaboration: international / national• Anticipated results / impact / risks
Writing a good application, points to remember
• Articulate the big questions (research phenomenon), not just emphasizing the underlying case
• Research settings often asymmetrical: go for symmetry instead
• Be Innovative: new knowledge, new research methods or new practices to be generated?
• Clarity in articulation: limited time for reviewers / evaluators to be given for each application
LIIKESIVISTYSRAHASTO Foundation for Economic Education
A Grant Process - Foundation for Economic Education
Amendments to the
Electronic Application
SystemAdvertisements are published
in Local Newspapers
Grant Application Submission
Period
Grant Applications
are scanned to the Grant
System upon Arrival
Grant Applications
are Grouped by Theme,
Discipline, etc.
The Project Descriptions Are Sent to
Regional Committees
Regional Committees
Give Feedback
A Grant Process - Foundation for Economic Education
Regional Committees give feedback
All Grant Applications are Evaluated by Scientific
Advisors
A Proposal will be sent to the Grant Committee
Grant Committee grades the Applications
Administration allocates Grants to suitable Special
Funds
Special Funds accept or reject a Grant Proposal
Board of Directors approve of/
reject the Proposal
Letter of approval from LSR
LIIKESIVISTYSRAHASTO Foundation for Economic Education
Thank you and good luck with your research !