How to get and create a scientific project: from idea to financing

One of the most repeated phrases in the world of science is that attributed to Isaac Newton: “We walk on the shoulders of giants.” The English physicist referred to the fact that each advance in science is made based on the work that others did previously.

This is a cycle that is continually renewed: the new researchers will be those ‘giants’ on which they will rely in future decades, who are now newborns. But, to do so, we must overcome one of the most serious obstacles in the sector today: get financing and carry out a scientific project.

The delicate situation of the university and the lack of its own resources means that many researchers put aside brilliant ideas that could be very useful for society for one reason only: the lack of money to start the investigation.

Experiment, create prototypes, set up a chain construction proposal… All these tasks, linked to most science projects, require time and exclusive dedication. And neither of these two ingredients is possible if you do not have a sufficient financial cushion to take these first steps.

How to get and create a scientific project, then? Fortunately, today there are alternative ways to focus on research and be able to contribute something to society from the point of view of science.

The development of a scientific project: the idea

Having a solvent idea that is likely to work is the key and the first thing you need to have if someone wants to consider research as a medium-term horizon.

There are many fields where today science is being absolutely relevant to modernization, reducing ecological impact, improving safety or lowering production costs.

From robotics to agriculture, through medicine, artificial intelligence or psychology… Any professional in these fields can get to work if they have a developed idea based on strong pillars. Again, walking on the shoulders of giants is key in this first stage.

The search for financing

Obviously, money is an important asset in greenlighting research. What options do those who today want to develop a scientific project without the support of the university or other public organizations have?

The answer is in the banks: These companies not only offer mortgages and personal loans to buy a car. In most cases, financial entities also work under a strong commitment to improving society and, therefore, are sensitized to research projects that follow that line.

What does this mean? That obtaining sufficient financing from a bank is not something impossible, but something quite affordable. In this case, Banks study financing proposals for research projects, as if they were companies that need money to expand or make improvement investments.

For this reason, they have a series of loan products that allow for very complete customization of the repayment conditions, terms, interest and another series of variables that can make access to financing quite achievable.

Besides, Some entities are working to offer ICO lines for the green transition and to promote growth and digitalization of companies and entrepreneurs.

In this framework it is very easy to insert any scientific project and not depend on whether a university pays attention to it or whether a private company wants to bet on something that will bear fruit in the medium term.

‘Less scientific’ fields also count

Sometimes, there is a very great lack of knowledge on the part of society about the importance of research in sectors such as agriculture.

However, the truth is that architects, engineers and scientists of all kinds work every day on crops for issues as varied as optimizing fruit collection, controlling pests in a more organic way or simply reducing water consumption. .

In fact, There are many professionals in the sector who request agricultural loans to invest in fruit and vegetable farms or in livestock companies and be able to implement these improvement trials.

These loans, again, can be personalized and adapted to the needs of each professional. And all this without causing a headache: all payment orders, requests, etc. can be obtained with business accounts how are you.

Furthermore, aware of what it costs to undertake and innovate in this field, Banking entities offer advantages such as the return of the opening commission if aid such as the CAP is domiciled.

Deliver project results

The combination of a good idea, a detailed execution plan and sufficient funding, many researchers have already been able to take the step and carry out innovative projects.

Once the project has given its first results, its scientists or entrepreneurs can initiate a second phase called recapitalization.

At this point, with a prototype or a pilot experience that has given results, it is much simpler obtain other types of financing, European aid or any other type of economic injection.

With it, part of that initial loan necessary to begin the research can be returned and, in addition, a second stage of its development can be proposed, such as expansion, series production or preparation of the product or service for its release to the market. .

So, More and more scientific projects in a wide variety of fields are becoming a reality thanks to the support of banking entities. who, aware of the difficulties that these professionals encounter in carrying out their ideas, offer very interesting financing lines adapted to their reality.