Have you checked that you are prepared for funding, ensured that your project idea is an attractive proposition to funders, and identified a fund that you are eligible to apply for and want to know what next step to take?
In this article, GRANTfinder will look at the pros and cons of submitting bids in partnership with another organisation, as well as giving practical tips on how to seek out and manage a successful partnership.
That is the question. It may seem natural to want to be the main applicant in the bid, but there are pros and cons in letting your partner take the lead.
Being sought out as a partner means that you are working on someone else’s project rather than engineering a project from scratch. However, the key benefit is that you can be involved in a project without assuming the financial and reporting responsibilities as lead partner.
Partners can be sought through a variety of ways. A good first port of call is to review if your organisation has any existing partnerships which would be relevant for your project. If a brand-new partnership is required then networking at sector-specific workshops can help you find the right match. Trade associations, Chambers of Commerce, and targeted partner search facilities may also be useful.
The first step to take is to define the structure of the partnership. Establish how tasks will be assigned, including setting up activities in the style of work packages and nominating task owners. Decide which financial and accounting system will be used to keep track of project costs. Determine a reporting system and establish how information will be collated and reported back to the funder.
If you would like more support with the next step in the funding process. GRANTfinder has created a Funding Toolkit which provides guidance on the 7 key steps to funding success – including identifying funding, working with partners, and tips on how to write a successful application.
Download this guide by filling in your details below. We'll also send you our regular expert series emails for the next six months with our most recent whitepapers, studies and other informational content.
Or, if your projects are research based, download the Toolkit here.