Internal funding is generally a gateway into external funding. This funding allows the academic and research communities to work together. While the academic community is capable of doing the research, the funds of a university are primarily focused on the educational aspect of the research field. External funding gives researchers the necessary funding to complete full scale research projects and programs.
Internal funding is heavily focused on the education involved in research. It encourages researchers to build their research credentials and provides them with small awards to list on their portfolios. The smaller award amounts train faculty to manage grant funds on a smaller scale. These funds allow researchers to obtain pilot data, which can be presented in a proposal for an external grant. Internal funding is intended as an investment that an institution makes in its researchers so that they can be successful in publishing and seeking external funding.
Internal funding is used to pilot projects and encourage research publishing, external grants and funding are used to support larger or more robust research projects. External funding can be used towards a various research needs, such as instrumentations, supplies, and equipment. Additionally, external funding can also be used towards buying out of classes, graduate assistants, as well as go towards travel costs to dissemination of the research findings. Both types of funding allow the academic and research communities to collaborate while reaching the goals of each institution.
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