LIIKESIVISTYSRAHASTO
Foundation for Economic Education
Research funding
Liikesivistysrahasto
Foundation for Economic Education
Johanna 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
• 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.
LIIKESIVISTYSRAHASTO
Foundation for Economic Education
• 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
• 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.
LIIKESIVISTYSRAHASTO
Foundation for Economic Education
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?
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
LIIKESIVISTYSRAHASTO
Foundation for Economic Education
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
A Grant Process - Foundation for
Economic Education
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A Grant Process - Foundation for
Economic Education
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Letter of
approval
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A Proposal will be
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reject the
Proposal
Special Funds
accept or
reject a Grant
Proposal
All Grant
Applications are
Evaluated by
Scientific
Advisors
Administration
allocates Grants
to suitable
Special Funds
Grant
Committee
grades the
Applications
LIIKESIVISTYSRAHASTO
Foundation for Economic Education
Thank you and good luck with your
research !