Benefit-risk assessment is critical to the regulatory review process for life science companies and healthcare products, including drugs, biologics, and medical devices, before it is approved for use by regulatory agencies such as the Food and Drug Administration...
The Secret to Writing Successful Grant Proposals
Grant writing aims to prepare and submit a proposal to request funding from a grant-making organization, such as a government agency, private foundation, or corporation. Grant writing involves researching potential funders, understanding their priorities and requirements, developing a proposal that meets those requirements, and submitting it for consideration.
Grant writing aims to convince the grant-making organization that the proposed project or program is worth funding and will positively impact the community or field of study. Effective grant writing requires strong writing skills, attention to detail, and the ability to communicate complex ideas clearly and concisely.
You write a grant application to secure funding for your projects.
First, you need to determine to which Request for Applications (RFA), Request for Proposals (RFP), grant solicitation, etc., you will write the application. This decision also determines the agency, foundation, etc., providing the grant funding.
Make sure that you or the entity that will apply for the grant meets the criteria for the type of entities that can apply for a particular grant, for example, an NIH R-01 grant, an SBIR, an STTR, etc.
Once you write the grant, get the RFA, RFP, grant solicitation, etc. Read it carefully. Outline your response. Analyze your response outline and make sure that your grant application meets all of the requirements in the RFA, RFP, etc.
Start early. Give yourself and your team enough time to get the needed information, write the sections, and review them.
Once you can meet the requirements, get the application forms, if any.
If the granting agency allows for questions and you have questions, ask the granting agency. Be specific. Get specific answers.
You need to use the specified forms and follow the directions of the grant-giving entity. Your application may be summarily rejected if you don’t use the right forms or follow the rules.
A grant application has 4 major parts: the work proposal, the people, the budget, and the certifications. Let’s look at each of these.
The work proposal tells the granting agency what you propose to do, why you propose to do it, and when you will do it. The more data you can provide that shows a probability of success, the more likely you are to be approved and funded. Remember to describe your work plan, the scientific rationale, the timeline, etc., for a scientifically qualified reviewer who may not be familiar with the specifics of your work. Stay within the page limits.
The people section tells the granting agency who will work on the proposal, how much time they will spend, their qualifications, etc. Provide curriculum vitae and other project personnel data in the format that the granting agency asks for. You will have to identify a Principal Investigator. Use their forms, if provided. Stay within page limits.
The budget section tells the granting agency what you propose to spend for salaries, benefits, supplies, overhead, etc. This is where your Chief Financial Officer (CFO) and your accounting staff join the process. First, identify the Direct Costs,s, e.g., your salary, materials, etc., and the Indirect Costs, e.g., the administrative costs, etc., of your project. Some granting agencies will fund direct and indirect costs. Some agencies, like the US government, will fund direct costs but require a financial audit of your organization to establish an indirect cost percentage rate they would pay. For example, some companies apply for $0 indirect costs to avoid a government audit of the company.
The certifications are the assurances you will provide that you meet all the requirements and have the necessary programs to comply with United States, State, and local laws and the granting agency’s policies.
A grant proposal will typically include the following components:
- Executive Summary: A concise overview of the proposed project.
- Background and Significance
- Objectives: The goals and objectives of the proposed project and deliverables.
- Methods: How will you do it?
- Timetable
- Budget
- References
You may be allowed to add supporting materials, such as data, figures, and graphs, that help to illustrate the proposed project.
Remember, stay within the page limits. Use the proper font size, etc.
Once you have all of these sections written, do your final reviews. Then, submit your application as directed.
Ready to Take Your Grant Writing Skills to the Next Level?
If you’re ready to take your grant writing skills to the next level, start implementing these tips into practice today! Whether new to grant writing or looking to improve your success rate, remember that practice makes perfect. So don’t be afraid to keep trying, keep learning, and keep writing those grant proposals!
And if you need help, guidance, or support, don’t hesitate to contact PSC Biotech, professional grant writers.
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