If one acquired private funding how do they approach their University?

In summary, the conversation revolves around a student seeking to work with their university on a project, having secured private funding and a good working relationship with many departments. The next steps involve talking to the department chair and the VP of Research, who may require a full-time university employee to manage the grant and may take a cut for indirect costs. The typical items expected in a meeting include the plan, cost, funding sources, and support needed from the department and university. The conversation also touches on the rarity of this type of funding and the potential benefits for both the university and the company. Negotiations may be possible depending on what the student has to offer, such as real-world experience for students and potential for cost-efficient solutions for businesses.
  • #1
mesa
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If a student acquired private funding and would like to work with their University on a project how would they go about approaching them?

A little background, I am an undergraduate engineering student with 20+ years experience in the business world in HVAC, construction, journalism and bio-fuels feed stocks. An old acquaintance has pointed out a good market for a product that has been out of favor for some time and it seems we can manage a lucrative path to bringing it back to market.

Funding is secured but space and some equipment are required. I already have a good working relationship with many departments at my University so acquiring access to supplemental equipment is not of issue however a space is.

I currently have an old graduate lab that had fallen out of use when our department built a new facility. It has ventilation, sinks, shelf space, good counter tops, etc. but the department in which it is located is a far cry from this type of research so another lab is required.

What may be the best approach to moving forward?
 
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  • #2
You will ultimately need to talk to the VP of Research, but your 1st step is the department chair.

You will probably discover that whoever is charged with managing the grant needs to be a full-time university employee, and you will probably also discover that the university will want to take a cut of the grant for indirect costs.
 
  • #3
Vanadium 50 said:
You will ultimately need to talk to the VP of Research, but your 1st step is the department chair.

Very good. What items will the department chair be expecting to see when going in for a meeting?

You will probably discover that whoever is charged with managing the grant needs to be a full-time university employee,

Should I approach one of the faculty I know well or are they usually assigned?

...and you will probably also discover that the university will want to take a cut of the grant for indirect costs.

That seems perfectly reasonable considering the use of campus resources (although it is funny to have free use of the same equipment, Professors, and facilities while currently bringing nothing to the table) What is a typical 'cut'?

On another note...
Where's the 'mentor' badge?!?
 
  • #4
mesa said:
Very good. What items will the department chair be expecting to see when going in for a meeting?

What you plan to do, what's it going to cost, where the money is going to come from, what you need from the department and the university, and how you are going to make sure that he doesn't regret supporting you.

mesa said:
Should I approach one of the faculty I know well or are they usually assigned?

Who knows? This hardly ever happens, so there isn't much precedent.

mesa said:
That seems perfectly reasonable considering the use of campus resources (although it is funny to have free use of the same equipment, Professors, and facilities while currently bringing nothing to the table) What is a typical 'cut'?

It varies. For state schools, it's around 50-60%. That is, if you need a million dollars, your grant needs to be $1.5M or $1.6M to leave you the million after the university takes its cut.

mesa said:
On another note...
Where's the 'mentor' badge?!?

I've retired.
 
  • #5
Vanadium 50 said:
What you plan to do, what's it going to cost, where the money is going to come from, what you need from the department and the university, and how you are going to make sure that he doesn't regret supporting you.

So the same as with anything else. That last line of advice would have served me well in my early twenties.

Who knows? This hardly ever happens, so there isn't much precedent.

Surprising considering the contribution to research by the private sector and not for profits. That's where the money is.

It varies. For state schools, it's around 50-60%. That is, if you need a million dollars, your grant needs to be $1.5M or $1.6M to leave you the million after the university takes its cut.

Are these cuts typically negotiable?

I've retired.
Congratulations,
and it is nice to see you are still around.
 
  • #6
Everything's negotiable. It's not clear what you have to negotiate with. There's give and take. What do you have to offer?
 
  • #7
mesa said:
Surprising considering the contribution to research by the private sector and not for profits. That's where the money is.

That's a very different scenario from what you described. If a multinational company like GE or Boeing wants to fund a university research program, most likely it will be for a fixed term, have some clear objectives, and the university gets some well defined academic benefits apart from the money, e.g. funding for PhD projects for X people over Y years.

That's not the same as an open-ended proposal to try to develop a new product to make lots of money.
 
  • #8
Vanadium 50 said:
Everything's negotiable. It's not clear what you have to negotiate with. There's give and take. What do you have to offer?

A chance for students to work on real world problems in their field of study and get paid to do so.

AlephZero said:
That's a very different scenario from what you described. If a multinational company like GE or Boeing wants to fund a university research program, most likely it will be for a fixed term, have some clear objectives, and the university gets some well defined academic benefits apart from the money, e.g. funding for PhD projects for X people over Y years.

That's not the same as an open-ended proposal to try to develop a new product to make lots of money.

The companies you mention are there for a profit motive as well. The same goes for 'smaller' (strictly by comparison to a multinational) companies. There are businesses with problems that need solved along with University undergrads who would give anything to get into the game and gain real world experience.

Good profitable businesses typically have great adaptability and when shown a better way (e.g. more cost efficient) to do things they will adopt those practices. And as the technicians say, start with the low hanging fruit.

Either way, your point is well heard, I hope that wasn't too much of a tangent.
 
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  • #9
mesa said:
A chance for students to work on real world problems in their field of study and get paid to do so.

And every other research project can make the same claim, and they are paying the standard indirect rate.

Oh, and once you mentioned paying students the indirect rate just went up.
 
  • #10
mesa said:
There are businesses with problems that need solved along with University undergrads who would give anything to get into the game and gain real world experience.

I can only speak from my own experience looking at it from the company's perspective in the UK, but the university research we fund isn't specific "problems we need to be solved" to develop a particular product. The university timescales (minimum 3 years for a PhD) are way too long for that and we don't have day to day control over what they are doing - the academic content of the PhD has to be at arm's length from the sponsor. It's more aimed at medium to long term (5 to 10 years) new technology acquisition than product development.

Of course a smart student will try to maximize the amount of "real world" interaction they can get from the project (including the chance of a job offer at the end of it!) but some students don't seem to have enough common sense to take advantage of those opportunities - they just want to sit in a corner and produce some beautiful but probably useless theory!
 
  • #11
Vanadium 50 said:
...Oh, and once you mentioned paying students the indirect rate just went up.

I understand, so something like this instead:

A chance for students to work on real world problems in their field of study[STRIKE] and get paid to do so[/STRIKE].

Vanadium 50 said:
And every other research project can make the same claim, and they are paying the standard indirect rate.

Okay, what are Universities typically looking for in a proposal? (aside from what we already discussed) I can think of many benefits for the students; the only other requirements are for space and equipment that is currently not being utilized by the University.

It seems 'wording' is also crucial. In other words, what are some things 'not' to say? (like my snafu with 'paying students')

AlephZero said:
I can only speak from my own experience looking at it from the company's perspective in the UK, but the university research we fund isn't specific "problems we need to be solved" to develop a particular product. The university timescales (minimum 3 years for a PhD) are way too long for that and we don't have day to day control over what they are doing - the academic content of the PhD has to be at arm's length from the sponsor. It's more aimed at medium to long term (5 to 10 years) new technology acquisition than product development.

Of course a smart student will try to maximize the amount of "real world" interaction they can get from the project (including the chance of a job offer at the end of it!) but some students don't seem to have enough common sense to take advantage of those opportunities - they just want to sit in a corner and produce some beautiful but probably useless theory!

This is certainly short term (>1 year).

The hope is to obtain an unused space, retain access to the campus stock rooms, and borrow a few students from varying departments to work directly with the company and the lab. When the project is complete we move out of the space and the students move on to other things (possibly working with the company).

On another note, I have a couple other questions that you two may be able to answer,
When a project is given the go ahead how is the funding disbursed? As in, who on the project controls the funds? The Professor?

Do campuses usually have an 'in house' supplier to the labs? If not are there companies that campus labs are contractually obligated to use? If the answer is "Typically no..." to these questions do Universities generally run on Net 30 payments for supplies or by payment on delivery?

If anyone else has anything to add please do so.
 
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  • #12
What's in this for the students you plan to "borrow"?

If somebody came to a grad student with the offer "would you like to work on this fun project for a year - oh, by the way, it won't give you credit towards your academic grades and it won't contribute anything to your MSc or PhD" what sort of response are they likely to get?

You might be able to hire a post-doc for a year, I suppose, if they happen to be "in between other projects" and nobody else wants to hire them - but does the fact that nobody else wants them tell you anything about their ability?

There's a thin line between negativity and realism here - personally I call myself a realist :smile:
 
  • #13
AlephZero said:
What's in this for the students you plan to "borrow"?

If somebody came to a grad student with the offer "would you like to work on this fun project for a year - oh, by the way, it won't give you credit towards your academic grades and it won't contribute anything to your MSc or PhD" what sort of response are they likely to get?

I would imagine a not so good although an undergrad would do just fine. These are not terribly difficult problems to solve but there is still a need. Our campus has equipment sitting idle, space that is empty, and students (like myself) that would love to work on a real project.

Regardless it seems like this would make for an interesting experience and if the University has little concern for additional funding then we move forward anyway.

There's a thin line between negativity and realism here - personally I call myself a realist :smile:

Hah! Nicely put :)
 

1. How do I find private funding for my research?

There are several ways to find private funding for your research. You can start by contacting your university's Office of Sponsored Programs or Office of Corporate and Foundation Relations for guidance. You can also reach out to professional organizations or associations in your field, as they often have funding opportunities for research projects. Additionally, you can search for foundations or corporations that align with your research interests and reach out to them directly for potential funding opportunities.

2. What should I include in my proposal to secure private funding?

Your proposal should include a clear and concise description of your research project, its objectives, and its potential impact. You should also provide a detailed budget and timeline for your project, as well as any relevant background information or previous research that supports your proposal. It is important to tailor your proposal to the specific interests and goals of the potential funder.

3. How do I approach my university about receiving private funding?

Before approaching your university, it is important to have a well-developed and compelling proposal for your research project. You can then schedule a meeting with the Office of Sponsored Programs or the Office of Corporate and Foundation Relations to discuss potential funding opportunities and the process for securing private funding. Be prepared to answer any questions or provide additional information as needed.

4. Can I use private funding for any research project?

Private funding can be used for a variety of research projects, but it is important to ensure that your project aligns with the interests and goals of the potential funder. Some foundations or corporations may have specific guidelines or restrictions on the types of research they will fund. It is also important to check with your university's policies and procedures for accepting and using private funding.

5. What are the potential benefits of securing private funding for my research?

Securing private funding for your research can provide several benefits. It can allow you to pursue innovative and cutting-edge research projects that may not be possible with traditional funding sources. It can also provide additional resources and support for your research, such as equipment, materials, or travel expenses. Additionally, receiving private funding can help enhance your reputation and credibility as a researcher and increase your chances of securing future funding opportunities.

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