Establishing your research group as a young academic depends on many things, such as the availability of quality students, adequate lab space and a well-balanced teaching load. Arguably the most important factor is the acquisition of funding for your activities. Given that Australian Research Council (ARC) success rates are around 20% (for Discovery Projects), it is unlikely that a successful researcher can rely on ARC funding alone. Academics need a diversified funding strategy. Whether this be internal university funding initiatives, state government funding schemes or strategic collaborations with well-funded, more senior academics, it is important for the viability of your career to have more than one source of money. These varied sources of funding can provide a safety net for your research, allowing you to continue to keep up productivity in the event that any one route of funding dries up.
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