Definition
Public funding is financial support made available from national, regional, local, European Union or other public funds to pursue public objectives and policies.
Human Explanation
It is public money made available to eligible projects and activities.
Why it Matters
Public funding can support investment, innovation, economic development and social projects that may not be financed entirely by the market.
Conceptual Boundary
Public funding is not simply inexpensive capital. It involves eligibility rules, controls, reporting duties, state-aid considerations and safeguards for public money.
Practical Perspective
Assess both the chance of securing funding and the ability to deliver the project, maintain documentation, manage liquidity and remain ready for audit.