The circular economy is seen by many governments as an important means to a more sustainable society. In order to accelerate the required technological and societal changes, governments award grants mainly to activities that involve research, development and demonstration of new technologies and concepts.
In addition, grants are often available for educational programmes, awareness campaigns and capacity building. This portal has been produced with the financial assistance of the European Union. The views expressed herein can in no way be taken to reflect the official opinion of the European Union.
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Search in the Guide. Select personalised content. Create a personalised content profile. Measure ad performance. Select basic ads. Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. A government grant is a financial award given by a federal, state, or local government authority for a beneficial project.
It is effectively a transfer payment. A grant does not include technical assistance or other financial assistance, such as a loan or loan guarantee, an interest rate subsidy , direct appropriation , or revenue sharing. The grantee is not expected to repay the money but is expected to use the funds from the grant for their stated purpose, which typically serves some larger good.
In certain cases, there may also be revenue-sharing agreements with the government—for instance, in the case of a discovery that leads to a profit-generating patent. Twenty-six federal agencies administer more than 1, grant programs annually to provide funding for the arts, the sciences, and educational institutions.
Government grants help fund ideas and projects providing public services and stimulating the economy. For example, an economics program may be designed to strengthen empirical and theoretical economic analysis , as well as the methods for rigorous research on economic behavior. Grants may also support critical recovery initiatives, agricultural projects, and innovative research in all sorts of fields.
Government grants aren't just bestowed: they must be applied for. Getting a government grant is an extremely competitive process. Brand Solutions. Video series featuring innovators. ET Financial Inclusion Summit. Malaria Mukt Bharat. Wealth Wise Series How they can help in wealth creation.
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ET India Inc. ET Engage. ET Secure IT. Suggest a new Definition Proposed definitions will be considered for inclusion in the Economictimes. Subsidy Subsidy is a transfer of money from the government to an entity. Subsidies, on the other hand, refer to direct contributions, tax breaks and other special assistance that governments provide businesses to offset operating costs over a lengthy time period. The practice is controversial since large corporations -- not small businesses -- tend to receive most subsidies.
Unlike loans, grants are funds that the recipient does not have to pay back. Such assistance is most commonly associated with people furthering their education, in the form of fellowships, funding for special research or scholarships from foundations and nonprofit organizations, according to Extension InfoNet.
Grants are sometimes available to for-profit businesses, though it is usually for a specific purpose. For example, a business working with special needs children could seek grant funding to offset the costs of buying specialized equipment.
Subsidies cover many forms of funding, including direct payments, loan guarantees and special tax breaks, and businesses can use the money to offset operating and management costs.
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