Funding Opportunities: The World Data Science Initiative

The World Data Science Initiative (WDSI) intends to fulfill requirements needed by more than 300 million of subsidies for universities looking to embrace data science.

WDSI was launched early in January 2020. Ever since the launch of this initiative, it is seen that there have been more than 30 higher-education institutions from across the globe registered to become a crucial part of the network.

The World Data Science Initiative: What is it?

WDSI is heralded to be one of the world’s largest talent development projects in data science. The initiative aims at creating over 250,000 data science talents by 2022. Many institutions that have registered with WDSI were already working on projects to set up their centers of data science excellence in their respective campuses. The center of data excellence is called the – International Centers of Data Science. This aims at providing programs spread across varied fields in new technologies like AI, machine learning, and data science.

University funding, grants, and subsidies offered by WDSI include institutions from underdeveloped nations. Grants and funding offered by WDSI cover a substantial amount of cost that is needed during accreditation and during procuring advanced teaching-learning resources. This even involves student certification based on future-ready vendor-neutral along with cross-platform knowledge.

The World Data Science Initiative also targets to have over USD 250 million in subsidies/grants that will aid in reducing the burden for the applicant -institutions. Such grants will only be deployed at the source stage to help – reduce the cost of the content, knowledge, certification, and the process where the applicant-institution undergoes while setting their data science schools or centers of excellence in data science.

The purpose of the grants and subsidies:

Such initiatives are approached by institutions that cannot afford setting up their centers of excellence in data science. One of the major reasons why they seek funding opportunities in data science from this kind of initiative/project.

These funding assist activities in-

• Procuring content, knowledge, and processes that are required while establishing the data science center of excellence.
• Procuring content, knowledge, and processes that are required while establishing the data science school.
• Services involving global accreditation.

Such grants and subsidies do not cover the costs for the salaries of the staff, external consultants, construction, infrastructure, equipment, third-party software, or computers for that matter.

The prospective beneficiary or subsidy applicant falls under five categories that include:

1. Private universities, institutions, and colleges that are recognized by the government.
2. Governments, public universities, institutions, and colleges.
3. Data science consortia or project organizations or purpose vehicles that have been funded by the elected national government or the provincial government in nations.
4. Data science education projects that have been funded or sponsored by a not-for-profit organization that has been engaging in social upliftment through education and training.
5. Data science education and training consortia or special purpose vehicles that have been funded by charitable organizations.

If you’re looking to register with WDSI for university funding, you need to heed the below important criteria:

• WDSI does not entertain or offer any type of cash dealings. However, you need to keep certain facts in mind if you plan to register for the initiative.
• The subsidy amount is not released right after the approval of the application or request.
• No cash assistance to any type of beneficiary institution.
• Subsidies won’t be approved for applicant-institutions who have received a subsidy in the past.
• This initiative is not operational on any type of contractual arrangement with any type of credentialing or educational institutions.

The World Data Science Initiative aims at supporting all types of research where data science is projected as the main driver of the initiative.

Data science is projected as a major component of every organization in recent times. Therefore, the world must deliver business growth using data science.