Flexible
Funding categories are more flexible to a varied number and quality of proposals

Why is it important?

The more flexible funding categorisation is for the funding process the more it can handle a large range of different situations. Flexibility can help with reducing funding lower quality proposals or funding areas that would produce less impact. Examples include situations when the categorisation should be able to handle a lower number or quality of proposals for a given topic or objective area. Flexible categorisation should also be more effective at handling dynamic objective changes so the community can increase the speed of supporting initiatives that become more important.

Challenge settings

  • Difficulty handling objective changes - Specific challenge settings with a certain objective or focus area increase the difficulty in being able to handle changing objectives. Categorisations that have a requirement to fund proposals for a certain area are increasingly easy to break in situations where that categorisations priority reduces in the short term and other proposals cannot compete in the same categorisation.
  • Difficulties with fewer proposals or lower quality - Having specific challenge settings also increases the risk of situations where there are fewer teams and ideas that submit proposals for that categorisation. This leads to potentially wasting funding resources on lower quality proposals that could have been directed to other impactful ideas that are focussed on other areas.
  • Difficulty for new ideas - Proposers who bring new ideas with completely different objectives may be excluded from submitting proposals with challenge settings due to challenges causing exclusive form of categorisations. Challenges which are specific could also lead to this exclusion of certain ideas. This makes the challenge process less flexible for when new ideas suddenly emerge that could be of high impact but are not able to be submitted in the current categorisations.

Funding categories

  • Effectively handles objective changes - Funding categories use broad categorisation that is also inclusive. This means if objectives suddenly change there can already be a number of proposals submitted into existing categories already. Broad and inclusive categorisation is far more flexible to suddenly changing objectives.
  • Effectively handles fewer proposal numbers or lower quality - Using broad categorisation also means that multiple proposal types and different objective focuses will be present in a single categorisation. This means that there can be a number of areas that produce a smaller amount of proposals or ones of low quality as the amount of competition between a wider range of areas is included. This helps increase the probabilities that there are quality proposals funded for the different areas that are priority.
  • Effectively handles new ideas - As the categorisation is inclusive there is no stopping completely new ideas from being suggested in the funding rounds. This ensures that the funding process offers the maximum amount of flexibility to invite new and innovative ideas that had not been thought of prior to the submission of that proposal.

Summary

  • Funding categories use inclusive and broad categorisation which result in them being very flexible to difficult situations and changing requirements that occur in a quickly changing and fast growing ecosystem.
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Outline
Why is it important?
Challenge settings
Funding categories
Summary