Financial Leverage for Research Grant Applications

Financial leverage is an important factor in the MRIWA Board’s assessment of an Application for a research grant.

Applicants are strongly encouraged to secure appropriate levels of sponsor co-investment in their research project before submitting the Application to MRIWA.

MRIWA calculates the financial leverage as (the sum of Sponsor’s money and MRIWA money) divided by MRIWA money, expressed as a multiple.

For each financial year, the Board determines a target for the average financial leverage for Applications to receive approval in that year (The target for the average in 2016/17 is 3X.)

The Board may seek a higher, or accept a lower financial leverage than the target, depending on the particulars of the Application. Higher financial leverage is expected for relatively low risk research and for research related to projects with a higher technology readiness level (TRL).

Applications with a financial leverage of less than 2X will not be considered for awarding of MRIWA funds, without the express authority of the Chair of the Board.

MRIWA recognises there are instances in which the merits of an Application may be such that low financial leverage should not preclude its consideration by the Board. Should the leverage proposed be less than 2X, the Applicant may brief the CEO, who then may, at his or her discretion, seek the Chair’s approval for the Application to be submitted to the Board.

For more information please refer to our Risk Appetite Statement.