Obtaining Research Funding

Two of the most important and challenging missions of a principal investigator (PI) are to publish papers and secure funding. Since it is almost impossible to conduct research and publish papers in reputable journals without external funding, financing projects is central to the research process. In most cases, a research budget is obtained through a competitive process. As funding is tight, competition is strong, and the grant rejection rate is high (approximately 80–90% of submitted applications), grants are becoming more and more competitive. Consequently, preparing an outstanding grant proposal is critical to the conduct of research, yet most researchers receive minimal or no formal training on the process of writing effective grant applications. Research grant preparation is a demanding process. It can be daunting, time-consuming, and resource intensive without a guarantee of success. This chapter discusses the significant components and considerations for a successful research proposal or grant application.