What are some key funding mechanisms for running a grants round?

There are several funding mechanisms to consider, including quadratic funding, prospective grants, RFPs, retroactive grants, direct grants and research grants. Each mechanism serves different purposes, so it's essential to choose the one that aligns with your goals.

How do I decide which funding mechanism to use for my grants round?

The choice of funding mechanism should align with your objectives. For example, quadratic funding is excellent for community support, while RFPs are suitable for focused problem-solving. Consider your goals and the outcomes you want to achieve when making this decision.

How can I ensure transparency and accountability in my grants round?

Transparency can be achieved through detailed reporting and making information accessible. To enhance accountability, consider creating mechanisms for auditing, and clearly define who holds others accountable within the system.

How can I assess the impact of grants awarded during a round?

Impact assessment involves tracking the outcomes and progress of grant-funded projects. This can include quantitative metrics and qualitative information. Encourage grantees to report on their progress and consider using standardized metrics.

What are the best practices for running a successful grants round?

Successful grant rounds often involve aligning intentions with positioning, maintaining adaptability and modular systems, fostering community engagement, ensuring transparency, addressing conflicts of interest, and measuring impact effectively. Consider these best practices when planning your round.