Definition
A grant is funding awarded for a specified project or objective on the basis of defined criteria, conditions and an assessment of an application.
Human Explanation
It provides money for a particular purpose when the applicant meets the programme requirements and delivers the project correctly.
Why it Matters
Grants can support research, development, investment and social activities that might otherwise be difficult to undertake.
Conceptual Boundary
A grant is neither automatic nor unrestricted money. It is tied to an approved purpose, budget, conditions and reporting obligations.
Practical Perspective
Before applying, assess the programme fit, applicant eligibility, eligible costs, deadlines and the ability to deliver and report the project.