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Research funding
Research funding refers to all the material or spiritual funding given for scientific or social research. Usually, research projects are being evaluated by a commission in order to receive funding and only the most promising of them receive the funds they need in order to be conducted. The competition is stimulated by the governmental organisations and corporations, the major sources for funding in research whether it is of medical, technological or social interest.
Types of research funding:
Government funded research: when researches are conducted by the government itself or by third party researchers or organisations through grants offered by the government. The main advantages of government granted research is that the results are usually shared with the public.
Privately funded research: when research is funded by private companies and organisations in order to develop new technologies. Funding for this type of research is profit motivated in most cases and the private contractors will unlikely release funds solely for the sake of acquiring knowledge. Unlike government funded projects, privately funded researches will most likely not be made public.
While most of the scientific projects could not be undertaken without proper funding, potential conflicts of interest must be disclosed by the researchers before publishing the results of the study, especially when funding was received from private contractors that are expected to gain from a favourable outcome.
