Research fundingLiikesivistysrahasto

Foundation for Economic EducationJohanna Vesterinen CEO, D.Sc. (Econ.)

Aalto University School of Business, Helsinki 17.12.2013

LIIKESIVISTYSRAHASTO Foundation for Economic Education

• In 2012 Finnish foundations promoted art and sciences by over 330 M euros

• Start-up funding, ‘second opinion’ for public funding

• Since 1919, the Finnish business sphere has been active in promoting higher business education in Finland through Liikesivistysrahasto – The Foundation for Economic Education.

LIIKESIVISTYSRAHASTO Foundation for Economic Education

• To achieve its goal, the Foundation provides grants to individuals and groups engaged in scientific research in the field of business economics.

• Moreover, the Foundation supports high quality business education projects with an international and/or domestic dimension.

LIIKESIVISTYSRAHASTO Foundation for Economic Education

LIIKESIVISTYSRAHASTO Foundation for Economic Education

• Our annual (2013) budget for grants is 3 million euros.

• The grants are rewarded upon application.

• According to Finnish Law, our grants are tax-free with some minor exceptions. The same is true for our investments as well as for donations.

• Most grants focus on scientific research carried out domestically and abroad within the international research community in the field of business economics.

• Also non-Finnish citizens’ high quality grant applications are considered in the Foundation’s grant application process, particularly if the application indicates support to the Finnish research and / or business community.

LIIKESIVISTYSRAHASTO Foundation for Economic Education

LIIKESIVISTYSRAHASTO Foundation for Economic Education

• The electronic grant application system should be filled in Finnish or English and the very essential one-page-long project description and all other information will be accepted in Finnish, English or Swedish.

Grant Supporting Elements in an Application

• The theme and research problem is, at least potentially, beneficial for the Finnish business environment

• The potential of the research to open new avenues for research or new business opportunities

• Based on the application only, it should be clear to which question(s) and how the applicant is seeking an answer

• The applicant’s previous (research) activities and her academic instructor’s statement are essential for PhD candidates

• The candidate’s success in presenting herself: Why should this grant be awarded to me?

LIIKESIVISTYSRAHASTO Foundation for Economic Education

Research Plan Should Include

• Name(s) of Researcher(s), Name and Place of Research Project • Background• Research Motivation• Methodology and Data Collection• A project schedule and total project cost information incl.

estimated completion • Research collaboration: international / national• Anticipated results / impact / risks

Writing a good application, points to remember

• Articulate the big questions (research phenomenon), not just emphasizing the underlying case

• Research settings often asymmetrical: go for symmetry instead

• Be Innovative: new knowledge, new research methods or new practices to be generated?

• Clarity in articulation: limited time for reviewers / evaluators to be given for each application

LIIKESIVISTYSRAHASTO Foundation for Economic Education

A Grant Process - Foundation for Economic Education

Amendments to the

Electronic Application

SystemAdvertisements are published

in Local Newspapers

Grant Application Submission

Period

Grant Applications

are scanned to the Grant

System upon Arrival

Grant Applications

are Grouped by Theme,

Discipline, etc.

The Project Descriptions Are Sent to

Regional Committees

Regional Committees

Give Feedback

A Grant Process - Foundation for Economic Education

Regional Committees give feedback

All Grant Applications are Evaluated by Scientific

Advisors

A Proposal will be sent to the Grant Committee

Grant Committee grades the Applications

Administration allocates Grants to suitable Special

Funds

Special Funds accept or reject a Grant Proposal

Board of Directors approve of/

reject the Proposal

Letter of approval from LSR

LIIKESIVISTYSRAHASTO Foundation for Economic Education

Thank you and good luck with your research !