The Strategic Research Investment Fund (SRIF) aims to seed programs of work that align with strategic research priorities and enhance the research capabilities of James Cook University (JCU). Research supported by SRIF should have high potential to contribute to the diversification of income and demonstrate clear pathways towards sustainability. Successful programs will demonstrate the potential to leverage existing research capability to build new platforms and access or develop new opportunities.
In 2018, a total of $1.55M is available for investment through SRIF.
The fund is open to JCU staff in Townsville, Cairns and Singapore. Application is by way of a Program Business Case that provides clear objectives, measurable outcomes and criteria by which success of the program can be evaluated. The Program Business Case must include clear plans for sources of external investment in the program, including end-user investment and support.
Each program of work will be funded for up to 3 years, with a total maximum investment of $1M from SRIF for the duration of the grant. A maximum of $500,000 may be awarded in any single year of the grant.
The SRIF scheme is intended to seed programs that are able to demonstrate a clear path toward sustainability through accessing a number of potential income streams that are credible and verifiable, including end-user contributions, and/or support from external grants. Total return on investment in the SRIF program should be 3:1 (this can include both external cash and external in-kind returns). Applications that can demonstrate an external cash component of at least 1:1 (ie. matching the SRIF investment) may be prioritised. In all cases, the program plan must demonstrate clear, achievable milestones and credible, verifiable outcomes. The SRIF scheme is not intended to provide funds to a program beyond three years, so the sources of support planned for sustained operation of the SRIF-seeded program beyond those three years must be clearly articulated.
Future years’ allocations of funding for each program will be contingent on progress towards milestones and intended outcomes.