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Control and Power Portfolio Partnership
The EPSRC Portfolio Partnership Scheme
The UK Engineering and Physical Sciences Research Council (EPSRC) has launched a new research funding initiative with the aim of providing long-term support for teams of top scientists while also offering them flexibility in their research programme.
The Portfolio Partnerships scheme was announced at the EPSRC's 2003 Annual Conference in April 2003. Eight partnerships have been formed initially, receiving total funding of £28 million over five years, with at least another 12 to be introduced next year.
'Over time, maybe as much as 20% of grants will ultimately be awarded
through this route.'
Portfolio Partnerships differ from existing EPSRC funding schemes in that they allow research teams to 'pool' a number of existing grants and project these forward.
Unlike the Interdisciplinary Research Collaborations (IRCs), which have strong managerial frameworks, and unlike standard research grants, for which individual proposals must be prepared and peer-reviewed, the partnerships offer researchers a less formal and less structured funding environment in which to work.
Supporting Excellence through Portfolio Partnerships
Guiding principles behind the creation of the EPSRC Portfolio Partnerships were:
Many interesting research projects do not fit the ‘£150K grant for 3 years’ straightjacket.
There is merit in strong teams managing a ‘portfolio’ of grants, effected by consolidation and enhancement.
A framework is required to provide greater stability and less bureaucracy for strong groups, reducing the burden of application, evaluation, tracking, reporting, etc. associated with multiple small grants.
Key Features
Consolidation of grant portfolio and extension out to 5 years in a ‘profiled’ form.
Grant profile is constant for 3 years, tapering down in years 4 and 5
No ‘responsive mode’ grant applications for first 2+ years
Earliest start for any new responsive mode grants will be the beginning of year 4.
By year 5 the ‘portfolio’ will be re-tensioned.
MOU between EPSRC and University re ‘Partnership’.
