Enhancing the Value and Sustainability of Field Stations and Marine Laboratories in the 21st Century (2014) / Chapter Skim
Currently Skimming:
5 Strategies for Financial Sustainability
5 Strategies for Financial Sustainability
Pages 55-62
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From page 55... ...
an innovation, service, or feature intended to make a company or product attractive to customers." (Oxford Dictionary) A field station's value proposition can include elements as varied as longitudinal datasets, housing and conference facilities, extension and outreach learning opportunities for local communities, stewardardship of local natural history, and provision of rich research experiences at the convergence of disparate scientific disciplines.
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From page 56... ...
Successful expansion of public–private partnerships depends on a stable core of support that can be leveraged through a diversified value proposition that attracts an array of funding streams. It also depends on the visionary entrepreneurship of field station leaders who can attract and inspire funders and other partners.
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From page 57... ...
Many of the skills needed for success in leading a field station are not part of the skill set of the typical academic scholar, and they may need to be enhanced or provided by another member of the field station's leadership/management team. Field station directors are responsible both for building and sustaining the infrastructure that allows emerging science to thrive and for cultivating durable relationships with the parent organizations, the primary source of core support for most field stations.
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From page 58... ...
Success in a Time of Declining Resources Funding from federal government grants and from most parent organizations, particularly universities, to support daily operations of field stations will continue to be a serious challenge for at least the near future. The bulk of support for most field stations generally comes from field stations' host institutions, but field stations have come to depend upon other sources to push their research and education agendas forward.
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From page 59... ...
. Because a field station's infrastructure underlies all of its program and activities, a field station's value proposition, funding portfolio, and potential economic impacts are anchored in maintaining and upgrading its infrastructure.
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From page 60... ...
Universities and other funders not only should commit to a sustained level of base support for their field stations, but also need to provide professional financial and fundraising assistance to field station leaders, many of whom have had little experience in financial management and fundraising. Continuity of support for field station infrastructure -- including information technology, base maintenance and operations, and long-term operations -- is essential for addressing our nation's environmental challenges in light of everincreasing human pressures.
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From page 61... ...
Investments in constructing, maintaining, and upgrading a field station's infrastructure (buildings, equipment, biological collections, datasets, etc.) are linked to eventual economic benefits of field station activities.
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From page 62... ...
Aging infrastructure, the need for advanced technology and cyberinfrastructure, and evolving safety regulations are increasing financial demands on field stations as they upgrade to meet emerging science and societal challenges. Sustainable funding for modern infrastructure will be possible only if field station leaders develop compelling value propositions, strategic plans, and business models for operations that can secure base funding support which in turn can be leveraged by support from diverse sources.
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