Find the Funding Your Research Needs with Mendeley

The second article in the series about Mendeley described how Mendeley Careers can help you manage your own research career or help you build an excellent research team. But no career or team can move forward without money to make the research happen. As you’ve undoubtedly seen, the landscape for research funding is changing. While local funding is still dominant, global funding is beginning to gain ground, especially in Europe. In addition, a larger percentage of funding is being directed towards emerging markets, adding to the competition for every dollar. You – and your institution – have to work more diligently than ever to identify and pursue financial opportunities to support your research. Did you know that Elsevier has a valuable tool to help you succeed in this quest? Mendeley Funding, part of the unified Mendeley ecosystem, can raise your batting average in finding and keeping the resources you need.

mendeley cure

The Odds Make Funding as Challenging as Your Research

Every researcher’s hypothesis has the potential to fundamentally change science, technology, engineering or medicine; unfortunately, many of them will never see the light of day. As you probably know, an average of only one in five grant proposals is funded. Most gamblers wouldn’t be crazy about those odds, yet you are forced to seek funding under that pressure throughout your research career. In addition, once you finally obtain funding, you have to work to sustain it throughout the life of your project. Knowing the odds you’re facing, why wouldn’t you want to use a free resource to gain a competitive advantage – and make your professional life a bit easier?

Mendeley Funding Aggregates Thousands of Options to Streamline the Process

Research, in general, is becoming more collaborative in nature, spanning domains and regions. In order to advance your science and your career, you need to succeed in – and fund – a collaborative environment. Mid-career researchers, in particular, experience this change as you shift from doing the work to leading teams. Mendeley Funding enables both individuals and team leaders to more easily acquire necessary funding, allowing you to increase your focus on the research itself.

So go to Mendeley Funding and start by creating a free account. You’ll find a collection of timely and relevant grant information from more than 2,000 organizations worldwide including US government agencies, the European Union, and UK Research councils. Each funding organization has its own Mendeley Funding page, which you can easily browse to view details about the most up-to-date opportunities: when they were posted, the deadlines for applications, the types and amounts of funding, and any restrictions on submissions. If you like what you see, bookmarking opportunities are easy; you just click the star to save your favorites for future reference.

With Mendeley Funding, You Don’t Need to Spend Money to Get Money

Mendeley Funding gives you access to a future-forward view of funding opportunities. Elsevier’s Mendeley team, which consists of former researchers, data scientists, and process engineers, is continuously gathering the latest information from funders, to offer you a unique collection of pertinent possibilities to finance your research. They know what you need and made Mendeley Funding robust and easy to use for funding searches. You know there won’t be a research career without proper funding, so let this tool from Elsevier help you make your dreams become reality. Take a look at Mendeley Funding today, and start to go for that funding that will move your research forward!

 

 

 

Getting Grant Funding for Your Startup

Jan Reichelt

Jan Reichelt, Co-founder and President of Mendeley, talks about his experience of using grants from funding bodies such as EUREKA and the Technology Strategy Board to help grow the company.

Ellie

By: Elitsa Dermendzhiyska, Co-founder of Grant Central

Is there such a thing as a free lunch when it comes to startup funding? That’s the question hanging in the air as I sit down with Jan Reichelt, co-founder of Mendeley, a research collaboration platform boasting over 3 million users and touted as one of the startups most likey to change the world for the better. If anyone had the answer, that would be Jan: on top of a Series A funding and acquisition by Reed Elsevier, over the past 6 years Mendeley has won a slew of national and EU grants whose precise number Jan seems to have lost track of.

Equity-free money in the form of grants holds a special allure for bootstrapped, cash-starved startup founders – an allure Jan is quick to dispel. Grants are like a sweetener, he says. They are nice to have, but startups shouldn’t count on them. Even if you get one, the money can be slow to come in, so you need to have other funding sources ready at hand.

Back in 2008, when Mendeley applied for the EUREKA Eurostars grant scheme, the startup had already secured seed funding and was eyeing VC investment to develop its research collaboration platform. The grant wouldn’t make or break Jan’s vision; rather, it just turned out to be the right fit at the right time.

Jan wouldn’t recommend the grant route for most startups, invoking the somewhat laborious process of obtaining and managing the funds. The amount of time you have to dedicate to writing the application through to forming a partnership to reporting and monitoring the project is only justified if you can find the right fit between your goals and the purpose of the grant, he says.

Grants such as the ones offered by Eurostars exist for two main reasons: to encourage research or to facilitate collaboration between academia and businesses. Mendeley fit both requirements, as the startup was looking to engage with academic experts in crowdsourcing and modern semantic technologies in order to provide real-time impact analysis for its platform users.

With the grant, the startup was able to create a win-win consortium by partnering with the Estonian Technology Competence Centre in Electronics-, Info- and Communication Technologies (ELIKO) and Austria’s Competence Centre for Knowledge Management (Know-Center).

Besides fit, another consideration businesses need to keep in mind is the rigidity of most EU grant schemes vis-a-vis VC funding. Grant applications often call for specific development plans and growth projections over 2 to 4 years down the line – something almost unthinkable for startups used to changing direction (or “pivoting”) on the go. A grant entails pre-committing to a certain course of action and any later changes, while possible, require reasonable justification and official permission from the government funders. A helpful strategy, Jan offers, is to make up a story and define your roadmap broadly enough to leave room for flexibility.

Grants require founders to maintain constant communication, as rules call for regular financial and technical reports to keep the funding authorities apprised of any progress, delays and changes to the project. Consortium agreements and allocation of responsibilities among partners also come with their own set of communication challenges. One example is deciding who would own the IP developed, – an issue that can become tricky if there are two or more commercial partners involved. Further still, aligning academic and business needs may require careful treading – or what Jan aptly describes as “hand holding” – in order to keep the theoretically appealing in line with the practical commercial realities.

Grant funding can appear rather rigorous to founders tied in the day-to-day running of business, and Jan, who tackled the initial Eurostars application by himself, concedes that the initial learning curve can be steep. Apart from hammering out a comprehensive application, he needed to then setup solid management and reporting processes in the post-grant period. And yet grants, while no free lunch, offer an opportunity for startups to grow on their own terms if they can muster the management skill, clear vision and R&D potential.

Have you had any experience of applying for similar grants? Share them with us in the comments!