Decision makers often want evaluators to assess the economic impact of their science and technology research grants programs. Ultimately, they want to know which type of funding mechanism provides the best value for money. There are different approaches evaluators can use to assess economic impact of research grant programs involving industry partners, but it is not always easy to determine which approach to use.
The presentation will feature an overview of why and how two methodologies (Economic Impact Analysis and Partial Benefit-Cost Analysis) were used to assess the economic impact of two research grants programs (i.e., the Collaborative Research Development Grants program and the Strategic Project Grants program), a critical discussion on the usefulness of the evidence generated by the two approaches and inherent challenges. The intention of the presentation is to give the audience some guidance on what to consider when choosing between approaches.
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