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Typefully
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We're launching a Command Bar today with great commands and features.
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I think this thread hook could be improved.
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I think this thread hook could be improved.
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Generally speaking, as our government has grown, it has imposed additional regulations and restrictions. We’ll leave a pros-and-cons discussion for another time and focus here on the impact this has had on grant funding for innovation and research.
This multi-billion dollar ecosystem has been handed more than 110 new federal rules in the last few decades, and the regulation continues to grow in complexity. Large funding ecosystems at the state level face similar challenges.
These regulations cause issues for parties on both sides of the granting ecosystem. Grantees and grantors report that an average of 10.3% of the total grant is spent by grantors—and 9.3% is spent by recipients—on administrative costs.
In addition to this hard cost, the opportunity cost incurred by applicants is often prohibitive, causing some of the best innovators and technologists to eschew the public sector entirely.
@KelseyTuoc wrote an article a while back, and asserted the following “many top researchers spend 50% of their time writing grants.” That opportunity cost is massive when you take into account both the financial cost of this time, as well as lost productivity and mindshare.
All of this is the result of a government that lacks the tools to properly administer and deploy funding. A recent survey of federal grantors and grantees outlined the following...
“Grant managers are not happy with their technical capabilities nor with their ability to measure performance, and they view data sharing and automated federal and state interactions as their highest priority.
A unified portal for grant recipients to use as they interact with all federal grantors is viewed by many as the innovation that can bring the most improvement across the board going forward.
In fact, 56% of the respondents who identified their highest opportunity for improvement selected “a unified portal for grant recipients to use as they interact with all federal grantors” as the opportunity they found most promising.
The second most frequently volunteered opportunity was “data standards for grants management”
In summary, the grant funding ecosystem, grantees and grantors are well aware of the massive inefficiencies inherent in the current paradigm.
There is a desire to improve, and a willingness on both sides to leverage new technologies and systems to make those improvements a reality.
@opengrants_io is here to provide those tools to the public sector, and we are excited to invite you all on that journey with us.