Cracking the Code on Research Funding

Despite the fact that private funding dollars are scarcer than what was available in decades past, industry leaders still back academic research projects. Eric Zorn, global director of external innovation at Cargill, says the company has long funded outside research but its strategy regarding what projects to support has evolved.

“In the past, ‘the lab was our world,’ and we commonly took a more research-forward approach to innovation,” he explained. “Today, the ‘world is our lab,’ and our R&D teams and investments are much more customer-driven and targeted with selected ecosystem partners, ensuring a clearer link to our customers’ needs and business strategy.”

That consumer-driven lens has Cargill looking for projects that “support a specific business case that we believe will deliver tangible results,” Zorn says. He adds that the organization actively seeks out research opportunities that support its internal strategy thanks to strong “touch points” with universities, startups, and other research institutions. But the team at Cargill also fields inquiries from academic researchers about funding opportunities.

“We make very deliberate choices about where we’re going to invest our resources,” he says. “This means we develop relationships stepwise with intention but do end up saying ‘no’ or ‘let’s keep in touch’ to great ideas frequently.”

When asked about the best ways to pitch companies like Cargill, Zorn emphasized the importance of understanding the “customer landscape and business side” of any project.

“Try to align your research goals with the interests of potential investors,” he says. “It’s important to think about how your findings can create value or contribute to solving real-world problems. Networking is also key. Build relationships with industry professionals and attend relevant events to get your work in front of the right people. And don’t hesitate to be open about your ideas. Sometimes a casual conversation can lead to unexpected opportunities.”