Launch Grand Challenge Initiatives to Attract Large-Scale Research Investments
In response to stagnating federal funding growth, universities have been diversifying support for research by pursuing funding from donors, foundations, and corporations who are interested in funding large-scale initiatives focused on solving problems with clear societal benefits. For this reason, many universities have built out (and self-funded) grand challenges, which focus on a big problem with a clear and compelling goal, in the hope that strong teams will eventually attract the levels of external funding necessary to keep these projects going.
- 1. Choose a grand challenge that connects departmental research with a large societal issue
- 2. Focus on a problem your institution is uniquely qualified to address
- 3. Partner with internal and external collaborators
- 4. Remove institutional barriers to promote collaboration
- 5. Position the challenge at the heart of strategic leadership and communication efforts
- 6. Set incremental goals for measuring success