Fundable but not funded

In 2012, the NHMRC reported (link goes to .xslx file; full reporting here) that while 20% of applications were funded, 72% (seventy-two!) were assessed as fundable. That is, 50% of applications were good enough to get funded, but the money wasn’t there. This makes me think that the ARC’s similar success rate might also be concealing a similar fundable-but-not-funded story.

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