Kathleen Fisher, the UK’s new chief executive of Advanced Research and Invention Agency (ARIA), wants to shake up the way scientists are funded.
At heart, ARIA’s mission is to back projects with high risk and high reward potential, where the potential to succeed is just as important as the ability to fail.
It’s a departure from the traditional funding model, where researchers often focus on projects with known outcomes to secure steady grants. But Fisher is convinced that by embracing the unknown, and the associated risks, we can accelerate the pace of scientific innovation.
Fisher has a point. By backing projects with potentially groundbreaking results, ARIA aims to unlock discoveries that could transform industries – like telecommunication technologies – and improve lives.
How to fund the future of science
So, how does ARIA plan to achieve this lofty goal? The agency wants to fund research programmes with high turnover rates, where scientists can quickly pivot and adapt to new findings. This might involve allocating short-term grants, rather than long-term contracts, to keep researchers on their toes.
ARIA will also use a merit-based funding system, where the best ideas get the green light, regardless of the institution or researcher’s reputation. This might lead to more diverse and collaborative projects, where experts from different fields come together to tackle complex problems.
The agency is also willing to take calculated risks, investing in projects that might not yield immediate results, but could have significant long-term impacts.
What this means for the future of science
By embracing a culture of experimentation and calculated risk-taking, ARIA aims to drive scientific breakthroughs that could address some of the world’s most pressing challenges. This approach could lead to a more dynamic and innovative research landscape, where scientists are empowered to push the boundaries of what’s possible.
So, what does this mean for the future of science? It means that researchers who are willing to take bold bets and experiment with new ideas will be rewarded with funding and support. It also means that scientists will have more freedom to pursue their passions, knowing that they have the resources and backing to take risks and pursue innovative research.
The future of funding
Kathleen Fisher’s vision for ARIA is to create a more flexible and responsive funding system, where researchers can quickly adapt to new findings and pursue emerging opportunities. This might involve working with industry partners, governments, and civil society to identify areas of high impact and potential.
The goal is to accelerate the pace of scientific innovation, and to unlock discoveries that could transform industries and improve lives. By backing projects with high risk and high reward potential, ARIA is taking a bold step towards a more dynamic and innovative research landscape.
