Study on Research Funding System

Health-and-Biomedical-InnovationProfessor Nicholas Graves of Queensland University of Technology’s Institute for Health and Biomedical Innovation (IHBI) commenced a study on research funding criteria adopted by the panel.

According to information of the study, 2705 research applications received approval from the Health and Medical Research Council (NHMRC) in 2009. Out of the 23% of the applications that received funding approval, 59% of the applications did not even qualify the grounds of selection.

The figures reveal that applications were categorized in 3 different segments namely researches that were extremely good to receive funds; the sub-standard category where there was doubt that researches could get funded; and the third category was the one where researches could receive funding by luck or by chance.

Professor Graves revealed that the procedure of selecting researches to be allocated funds is a long drawn one and involve huge expenditure. The cost of approving a single research amounts $17,744 and that too takes place in a period of 22 days. The total expenditure levied on the entire process amounted $50 million in the year 2009, and the maximum payment was made by the aspirants.

Therefore, Professor Graves suggests the need to improve the procedure by taking measures so that best research application gets approved for being funded.