What to Do When You Run Out of Research Funding
Being out of research funding may be a dead-end feeling, particularly when your project is underway, your team is waiting on you, and your findings are within reach. But the reality is that a great many researchers—graduate students, postdocs, principal investigators alike—are at some point in their educational careers out of research funding. The trick is not to panic but to act quickly, strategically, and resourcefully. This is how you can rebound and advance when your research funding is depleted.
1. Determine the Damage: What's Left and What's Required?
The initial move is to have a clear view of your current financial and research situation. Ask yourself:
- How much research is already done?
- What critical tasks are left?
- Are there any non-critical sections of the project that can be delayed or cut?
- What resources, lab time, or equipment are most pressing?
Split the next phase of your project and allocate realistic costings to them. This will give you a lean, short-term plan and help you prioritize activity. It is simpler to secure smaller sums of stopgap money than to replace a whole grant. Being specific will also strengthen your case when approaching prospective funders.
2. Speak to Your Supervisor or Principal Investigator
If you’re working with a research team, your principal investigator (PI) or supervisor is your point of contact. PIs are usually aware of funding shortfalls and may already have some fall-back strategies in place. Here’s how they could assist:
- They might have unspent discretionary funds from another project.
- They may redirect internal departmental funds.
- They may include you in a new grant application or assist in an accelerated application.
Be professional and honest. Share with them your updated project plan, how much money you require, and why it’s important to finish your work. Even if they can’t assist you directly, they can direct you to who might next or give you a letter of support for emergency funding requests.
3. Investigate Internal Funding Opportunities
There are also internal grants in many universities aimed at funding research continuity, student organization initiatives, or bridge funding. They might not be widely publicized, so inquire with:
- Your administrative office in your department
- Office of research or graduate studies
- Financial aid or funding office
- Career development or innovation centres
Some universities even have dedicated funds for projects in distress—especially for PhD students in their final year who are close to submitting a dissertation. You’ll need a concise proposal explaining what went wrong, how the funds will be used, and why completing the research matters.
4. Apply for Emergency or Short-Term Grants
Whereas most conventional research grants have extended application periods, others provide quick-response financing for researchers in distress. They include:
- Research councils and professional associations
- Private foundations
- Your area of study’s nonprofit supporters
- Alumni-funded research emergency grants
Be mindful: these grants are usually limited and competitive in size. They can, however, assist you in sustaining the pace. Make your application more focused to emphasize the urgency, the significance of what you do, and the practicability of completion with minimum assistance.
Some possible destinations:
- The Royal Society (UK)
- National Science Foundation Rapid Response Research (RAPID) Program (USA)
- The Wellcome Trust
- American Association of University Women (AAUW)
- Emergency Funds from your national research councils or academic societies
5. Consider Collaborations or Shared Resources
If your research needs costly equipment, data sets, or software subscription, think about consulting close-by labs or researchers for collaboration. Quite a number of academics are willing to share resources, particularly when it can result in co-authorship or collective publications.
For instance:
- Can another lab allow you to borrow equipment or space?
- May you collaborate with a team of researchers engaged in a comparable project to divide workload and resources?
- May you outsource or subcontract a portion of the work to a partner who has superior funding?
It’s not only a survival tactic; it’s a savvy move that can raise the quality and magnitude of your research.
6. Pursue Alternate Income Sources
Depending on the field of your research, you might be able to earn money or receive assistance in innovative means:
- Consulting or freelancing: You may do short-term jobs based on your data analysis, coding, writing, or industry skills to generate funds.
- Crowdfunding: Sites such as GoFundMe, Experiment.com, or Kickstarter enable you to share your project and gain support from people interested in your cause.
- Sponsorships: If your work is commercially significant, businesses may be happy to sponsor it in return for branding, front-of-line access, or co-op rights.
Strong marketing and communication skills are needed for these opportunities—but they also position you to develop resilience and a public image as a responsive and innovative researcher under stress.
7. Adapt Your Timeline and Scope
At other times, the most realistic course of action is to revise expectations. If more money is not likely to come in on time, try:
- Reducing the research to its essential goals
- Delays on sections of the work to be done later
- Changing to cheaper methods
- Aiming to conduct a smaller pilot study and using that to reapply for funds
When it is necessary to reduce your plans, keep in mind that it is better to publish a thin but conscientious study than to cancel the project altogether. Reviewers and consultants appreciate researchers who are making tactical choices in the presence of real-world limitations.
8. Be a Good Communicator With Stakeholders
If your research involves external partners, participants, or collaborators, it’s important to inform them if the project is delayed, paused, or changed. Be honest, but also present a plan for how you’re addressing the issue. This builds trust, maintains professional relationships, and protects your reputation.
If you are a postdoc or PhD student, keep your grant administrators, committee, or thesis advisor informed. This may also be crucial for visa and enrolment status if you are abroad for study.
9. Strategically Use the Downtime
If you have some of your research in limbo pending funding, utilize your time by:
- Writing and publishing: Write articles, reviews of literature, or opinion pieces.
- Developing your profile: Showcase your research at conferences, submit for awards, and connect with academic networks.
- Skill building: Acquire new software, methods of research, or statistical tools that will benefit your work.
- Grant writing: Work on refining your next funding request or fellowship application.
Being productive during this time—without lab access or resources—can strengthen your resume and enhance your prospects for future funding.
10. Learn and Prepare for the Future
Burning through research funding is uncomfortable—but it can also be a great learning experience. Once you’re on your feet again, spend some time examining what happened:
- Did the initial budget under project costs?
- Were avoidable delays involved?
- Did you over depend on a single source of funding?
Use these lessons to create stronger, more diverse proposals in the future. Think about applying for several smaller grants rather than a single, big one. Establish relationships with potential donors early on. And don’t ever underestimate the power of having a plan B.
Overrunning on research funding is not the end—it’s a challenge. And like all challenges in research, it needs creativity, tenacity, and troubleshooting. By re-evaluating your necessities, investigating all open avenues for funding, working strategically, and being open with mentors and stakeholders, you can close the gap and carry on your valuable work.
Your path may be longer than anticipated. It may be less direct than you envisioned. But it will most definitely teach you resilience—one of the least appreciated but most basic skills in academia.
Get in touch with Aara Consultancy for further details!
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