Liikesivistysrahasto (The Foundation for Economic Education) was founded in 1919, and promotes research especially in business and economics. Some three million euros’ worth of grants are awarded annually through an application process to researchers in different stages of their careers. In 2018 the estimated grant sum total is 4 million euros.
The Foundation also provides recognition awards as well as prizes for meritorious studies targeted in acknowledgement of the donors’ wishes and according to the rules of the special funds.
The mission of the Foundation for Economic Education is to work with close links to business life and to build channels of scientific research, education and business economics also to serve business life in practice.
As defined by the Foundation for Economic Education board there are focus areas applied to the grant round.
The 2018 focus areas are:
Focus areas are intended for research and other projects which in the long term open new possibilities in supporting Finland’s economic growth, entrepreneurship, and business.
The Foundation for Economic Education’s grant application round is from June 1 to August 15. The application round is announced on the foundation’s website and in major daily newspapers at the end of May. The awarded grants are published on the Foundation’s website at the latest at the end of November. The grant recipients will also receive a letter of approval.
The Foundation for Economic Education supports mainly doctoral and post doctoral research. The grant recipient’s earlier education may be from a different field, and new multidisciplinary perspectives are welcomed. Support for long-term studies abroad is provided, e.g. within the Foundations’ post doc pool as well as by the post-doctoral SCANCOR fellowship and Tutkijat maailmalle programmes, among others.
Foundation for Economic education fascilitates co-operation between researchers and companies in the program of Post Docs in Companies (PoDoCo) -pool, enhancing competitivenes of academic research and strategic renewal of Finnish companies, as well as employment of young doctors. Initiatives to promote international aspects and projects for developing educational materials are also funded.
Grants are awarded mostly to Finnish citizens and Finnish research teams and entities. Other than Finnish citizens must prove an affiliation with a Finnish university, a research project with the Finnish academic community or an exceptionally well qualified view of how the research may benefit the Finnish business world.
The Foundation for Economic Education’s board may define priority areas for a grant round to be communicated in conjunction with the application round. Following the criteria established by the special funds’ rules grants are also awarded for specific groups of applicants (see: Call for applications).
Grants are not awarded to finance Bachelor of Business Administration (BBA) or Master’s degrees, e.g. Master of Science in Economics and Business Administration, nor MBA degrees. Exchange programme studies included in Master’s degrees are not eligible for grants, nor are single course trips, excursions or practical training trips. This limitation does not necessarily apply to projects by teams or entities. Funding for them will be considered based on the quality of the plans made for the project.
Grants can be used for scientific work during up to 12 months or, in the case of targeted grants, for a conference trip for example. Payment schedule is subject to the grant commitment signed by the awarder and the recipient of the grant. The deadline for returning the commitment is three years as of the date of the grant approval letter, after which the grant decision is invalid.
The Foundation for Economic Education grants are awarded for the calendar year following the application round. As an exception, conferences or other travels in conjunction with academic studies may take place already in the autumn of the application year (as of October 1). The prerequisite in such cases is a notice of approval or a letter of invitation by the organizer in charge.
For projects that take longer than a calendar year as is usually the case with doctoral studies, a study plan on a yearly basis is required in addition to the project plan. For projects underway, an intermediate report must always be submitted in conjunction with the application round. The final report must be submitted at the end of the project in accordance of the instructions given in the electronic grant system as well as on the web page Grant payment and reporting.