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How do grants work?

A grant is a fund from that government to assist with the construction of your ideas and projects. A federal grant is one of the many ways the government can assist by distributing resources to eligible recipients. A guide to finding what grant may be suitable for you can be found here.

Federal grants are not offered to cover personal expenses or to start a business. Eligible recipients include:

  • ┬áLocal and state governments;
  • Universities;
  • Researchers;
  • and organization undertaking major projects that generate novel ideas to benefit society as a whole.

Most grant opportunities are targeted at organizations and not individuals.

Upon application for a grant, the grant follows a linear lifecycle. This includes three keys steps.

  1. Pre- Award Phase: the pre-award phase creates funding opportunities based on current legislation and budgets. Available grants are published in FOA (Funding Opportunity Announcements). It is now up to the application to register for suitable grants and submit an application.
  2. Award Phase: The award decisions are announced and applications are notified of the outcome. If successful the award agency looks into formatting a legal framework for the funding agreement. Once this step has been completed, the application receives a Notice of Award (NOA) and can commence work on suitable projects.
  3. Post- Award Phase: It is up to the recipient to ensure the grant received meets administrative, financial and reporting requirements. Post-award, the funding agency oversees the compliance and suitable use of the funds, and the application must provide reports on a regular basis. This is to ensure the integrity of the programme and funds are used correctly.

For more information on suitable grants and the grant process, contact us here.