Scholarships & funding

ESRC Doctoral Studentship – Exploring Alternative Finance for Impact-Driven Deep Tech Ventures

This research explores how alternative and social finance models can support the development of impact-driven deep tech ventures: science-based innovations with potential to address complex societal challenges, such as in biotech, quantum computing, space technologies and emerging green energy innovations. Deep tech ventures typically face long R&D cycles, high technical risk, and substantial capital requirements. However, existing funding pathways present a structural challenge: public research funding often stops short of commercialisation, while private capital tends to favour rapid returns over public good. This creates a funding paradox, particularly acute for founders aiming to scale while staying mission-aligned and purpose-first.

This project investigates whether alternative and social models of finance (such as impact investing, venture philanthropy, and blended finance) can be adapted to support deep tech ventures in moving from lab to market. While such models are increasingly used in social innovation and community enterprise contexts, they remain underexplored in the deep tech space. In partnership with Considered Capital, a leading intermediary organisation in alternative finance, which supports and educates purpose-led founders to align funding with values, this PhD will conduct qualitative research across two stages: (1) a macro-level mapping of the current funding ecosystem, and (2) micro-level case studies and interviews with founders, funders, and intermediaries.

The study aims to generate a typology of funding pathways, identify new models of practice, and offer
insights for theory, policy, and practice. It contributes to scholarship at the intersection of entrepreneurship, innovation policy, and alternative finance, while informing new strategies for bridging the funding gap in deep tech. Findings will be shared through academic publications, practitioner resources, and policy engagement, co-developed with the collaborative partner.

Ultimately, this project seeks to shape a more inclusive, mission-aligned innovation ecosystem: one that enables scientific breakthroughs to reach society without compromising purpose for profit.

Applicants must meet the following eligibility criteria:

• Applicants must hold or be predicted a First or a good 2:1 undergraduate degree in the social sciences, or have relevant comparable experience.
• Applicants can have a Masters degree, however this is not a requirement.
• The applicant must also show demonstrable interest in the topic area under investigation.
• Applicants can study part-time or full-time

Number of Scholarships

1

Value

The scholarship is available as a +3.5 (3 year PhD and placement) or a 1+3.5 (Masters year, 3 year PhD, and a placement) studentship depending on prior research training. This will be assessed as part of the recruitment process, however you can access guidance here to help you decide on which to apply for. The programme will commence in October 2026. The full ESRC studentship package includes, as advised by ESRC:

• An annual maintenance grant (stipend)
• Fees at the standard institutional home rate
• Students can also draw on a pooled Research Training Support Grant (RTSG)

How to apply

1. Applicants must register on SGSSS Apply, completing their Equal Opportunities data.
2. Applicants must apply via SGSSS Apply, uploading the following documentation:

• Application Questions (answered within SGSSS Apply, no upload needed)
• Academic transcripts
• Academic prizes
• Referee information
• CV
• Other information (if required by the advert)

We strongly encourage applicants review the applicant guidance document for more on the process. 

Please Note:

• This is not an application to the relevant University, this is an application for SGSSS (ESRC) funding.
• Students do not need a Masters/PhD offer from the relevant University before they can apply for funding, i.e. this studentship.
• If successful in obtaining the SGSSS (ESRC) studentship, students can only start the funded studentship once they have an unconditional Masters/PhD degree offer from the relevant University. It is your responsibility to find out the University’s application process, including when you need to secure your offer, as SGSSS plays no role in this process.

Apply now via SGSSS Apply