Scottish Graduate School of Social Science

Sgoil Cheumnaichean Saidheans Sòisealta na h-Alba
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Scottish Graduate School of Social Science

Sgoil Cheumnaichean Saidheans Sòisealta na h-Alba

Studentship opportunity

All Studentship Opportunities

Exploring Alternative Finance for Impact-Driven Deep Tech Ventures

This studentship is funded by the ESRC through the Scottish Graduate School of Social Science (SGSSS)

Institution
University of Glasgow
Pathway
Governance and Institutions
Studentship
Open Collaborative
Mode of study

Full-time / Part-time

Application deadline
4pm, 14 April 2022
Applications are due 24 March 2026, 5 pm GMT and
References are due 26 March 2026, 5 pm GMT

Project details

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.

Collaborative Partner: Considered Capital

Supervisory Team:

About the University

The University of Glasgow has been changing the world since 1451. We are a world top 100 university and a member of the prestigious Russell Group of leading UK research universities.

This PhD Project will be situated in the Adam Smith Business School, University of Glasgow. The school is named after Adam Smith known as the founder of modern economics and a renowned moral philosopher. We aim to follow his legacy by developing an enlightened, engaged and entrepreneurial community of scholars and graduates. We create inspiring leaders, researchers and professionals whose research and relations with industry have impact, influencing organisations as they develop and grow globally.

Our PhD programmes are aimed at those who wish to become experts in a specialised field. A PhD is increasingly necessary for a successful academic career, but is also becoming an important distinguishing qualification for those who aspire to top positions in business, politics and the media.

We provide research students with challenging and high quality training in the theory and practice of research in accounting, finance, economics and business disciplines. As a research graduate, you will be equipped to design and conduct high-quality research and you will be prepared for employment where excellent analytic and communication skills are valued.

Eligibility

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

Funding

As per guidance published by UKRI in October 2020, a maximum of 30% of all studentships awarded can be made to international students, with the remaining 70% going to home students. 

Residential Criteria

To be classed as a home student, applicants must meet the following criteria:

  • Be a UK national (meeting residency requirements), or
  • Have settled status, or
  • Have pre-settled status (meeting residency requirements), or
  • Have indefinite leave to remain or enter.

For more on the UKRI eligibility guidance, click here

As per guidance published by UKRI in October 2020, a maximum of 30% of all studentships awarded can be made to international students, of which SGSSS has now awarded for the 2021/22 round of studentship awards. As such, this opportunity is only open to home students.

Residential Criteria

To be classed as a home student, applicants must meet the following criteria:

  • Be a UK national (meeting residency requirements), or
  • Have settled status, or
  • Have pre-settled status (meeting residency requirements), or
  • Have indefinite leave to remain or enter.

If you do not meet the criteria above, you will be classed as an international student and will not be eligible to apply. To establish if you would be classed as a home student, please see pages 4 and 5 of the UKRI eligibility guidance here.

Award details

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)

Other information

Candidates will be expected to prepare a short presentation at interview, further details will be provided on notification of being shortlisted.

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.

This studentship opportunity will open for applications on 9th June.

Apply now via SGSSS Apply

Selection process

Applications will be ranked by an internal institutional selection panel, and you will be notified if you have been shortlisted for interview on or around 3rd April. Interviews will take place on 27th April.

This studentship award is subject to the successful candidate securing admission to a PhD programme within the University of Glasgow. The successful candidate will be invited to apply for admission to the relevant PhD programme.

Contact details

Name
Team SGSSS
Email
SGSSS Team (for questions on the application portal, only), for any questions on the project, email the supervisory team (see details in abstract above)

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