Research institutes have helped a lot in terms of providing technological innovations that can solve problems that different nations are experiencing. There are many fields as to where research and development can be applied to create much more effective solutions to the most crisis. Of course, analyzing materials related to problems, may it be economic, medicinal, technological, and even social conflicts do not come free. Even with time and effort alone, an institute must put all their available resources at at their disposal to produce beneficial justification regarding the said research.
For some institutes, it can be a struggle to find and gather the right resources needed to continue the study efficiently. The budget may be limited to an extent where it can hinder the progress of the research. Not to mention that these institutes do not profit from researching alone. In reality, they need proper funding in terms of monetary so proper facilities needed for such study can be executed effectively. Here in Israel, a lot of foundations offer grants or funding not only to SMEs (Small to medium enterprises) but also to research and development institute who can provide a thesis that may prove beneficial once it yields profitable results. A detailed proposal of the study is needed for these research institutes to be able eligible to receive such funds from these foundations. Once a proposal is accepted, that is when they start to work hand in hand to further the progress of the study.
Research and development institutes have helped significantly especially in the medicinal field. Experimental medicine relating to clinical studies and applied research contributed to a lot of improvement in terms of efficiency of different kinds and types of medicines or even vaccines. Of course, the medicinal industry is a billion dollar industry where actual facilities needed for such biomedical research can cost hundreds of thousands and sometimes even millions. It is a good thing that foundations that are concerned with such studies have their hand open for such research institutes that want to devote their life’s work to medicinal breakthroughs, saving a huge percentage of the overall population of the world from presently known terminal illnesses.
Grants provided to such research and development institutes are allocated to different expenditures that can help the advancement of the study. It can be used for providing SMEs substantial amount of resources that can only be obtained through monetary means, or even for necessary upgrades and enhancement of existing equipment that can expedite different tasks and processes. They can also be used for the betterment of the workplace and its people if they are to designate the funds for training and up skills for the employees.
That is just one of the many research and development fields that can acquire grants from such foundations in Israel. SMEs on the other hand can benefit from grants by allocating their capital to a different yet essential sector of the business concerning its growth. Though most grants for SMEs are restricted as to what they can be used for, meaning the fund must be spent on specific elements or categories of the business such as facility engineering and maintenance or even product research.