Most researchers would agree that funding (alongside publishing) is a defining aspect of their professional existence. Often, after a decade of training, biomedical researchers who seek a productive career in academia spend a substantial portion of their time trying to attract funding. To emphasise this point, a recent study showed that amongst a cohort of 285 biomedical researchers in Australia, an estimated 550 working years of their time was spent preparing proposals. It also showed that preparing a new grant proposal takes an average of 38 working days of researcher time.
A researcher’s ability to do so dictates the success of their laboratory and further, the path of their career. This funding can come from a variety of sources, but the most prominent sources are grants funded by taxes (for example, NIH grants in the US). While these sources of funding are often large and consistent, they are difficult to attract and take a long time to deploy.