The future of Science Funding – EUREKA – Medium

"Each year, over $2 trillion are spent on academic research globally. Researchers within the same field compete for research funds by writing grant applications to funding agencies. Funders rely mainly on grant applications when selecting the eligible scientists and the best research projects to be funded. These grant applications are in turn based on research published in articles by the applying scientist. Experts in the field are then asked to review the grant applications. When considering the serious deficiencies in today’s publishing system, it becomes clear that reviewers do not have sufficient data to make informed decisions. Considering that only 10% of research data is published, the majority of work remains in lab journals. Research data which has led to negative results or replications are not accepted for publication by journals in general. This has lead to two major problems when it comes to funding research. First, funders spend millions on research that is not validated. And second, their return on investment is very low since most research conducted remains inaccessible and unpublished in lab journals of scientists. Funders are becoming aware of these issues and are changing their policies. Research institutes and funders are launching their own repositories demanding that researchers publish with open access...."