STSM Additional Information

The main objectives to satisfy:

  • Dedication to COST actions’ objectives and key strategic goals;
  • Inclusiveness and diversity (gender, career stage/age, geography, topics, etc);
  • Lean and cost-effective management and financial soundness;
  • Increase visibility;
  • Effective dissemination and communication of event results.

Purpose of STSMs:

A Short-Term Scientific Mission consists of a visit of a host organization located in a different country than the country of affiliation (for Affiliation) by a Researcher or Innovator for the specific work to be carried out and for a determined period of time (COST-094-21).

STSM Grant provides a contribution for travelling, accommodation and subsistence expenses, implementation of the project, delivery of the report to the COST Action MC and overall effort.

Benefits:

STSM Grantee receives funding for implementing a project with an international team and gains new knowledge or access to equipment or techniques not available in the home institution.

STSM Host receives an international partner in their institution and can develop long lasting collaboration.

Scope:

It aims to bring together experts from academia, industry and regulatory institutions with multidisciplinary knowledge on FinTech and Artificial Intelligence in Europe.

Applicants should rationally evaluate their budget request based on a cost/benefit analysis. The applications should be financially justified. Expenses should be defended based on the perceived cost of living in the host country/city.

Eligibility:

The institution or organization where applicants pursue their main strand of research are considered as Home Institutions. The Host Institution is the institution/organization that will host the approved applicant. The possible STSM Home and Host Institutions must be framed in the scenarios summarized in the following table.

Applicant’s Home InstitutionSTSM Host Institution
Located in a Participating COST Full Member/COST Cooperating MemberLocated in another Participating COST Full Member/ COST Cooperating Member
Located in a Participating COST Partner Member
An Approved International Partner Country Institution
An Approved NNC Institution
The EU Commission or a EU Body, Office or Agency
An Approved European RTD Organisation
An Approved International Organisation
Action MC observer from a NNC InstitutionLocated in a Participating COST Full Member/ COST Cooperating Member
Located in an Approved European RTD OrganisationLocated in a Participating COST Full Member/ COST Cooperating Member

The STSM shall be carried out in their entirety within a single Grant Period. The COST Association and the Grant Holder of the Action cannot to be considered as being an STSM grantee’s employer, i.e. the STSM Grant cannot be considered as a salary. STSM grantees should make their own arrangements for all provisions related to personal security, health, taxation, social security and pension matters.

Applications:

General description:

  • The scientific priorities of the addressed Working Group(s) and which objectives those relate to;
  • How the COST Principles will be addressed;

Outputs:

  • Tangible output(s), e.g., STSM reports, collaborative projects, joint publications, presentation in a COST Action Meeting or an external conference to a wider scientific community, potential stakeholders, etc.;
  • Less tangible output(s), e.g., knowledge exchange, transfer of skills and techniques, networking.

Budget (estimation)

  • Grants do not necessarily cover all expenses, it is only a contribution to the accommodation, subsistence and travel.

Applicant shall:

Fille in e-COST:

  • Title
  • Start and end date (within the active Grant Period);
  • Budget requested by the applicant;
  • Information about the host institution and contact person.

Uploaded to e-COST (as pdf files):

  • Application form describing: Goals, description of the work to be carried out by the applicant, expected outcomes and description of the contribution to the Action objectives;
  • letter of support from the Home institution;
  • written agreement from the Host institution that the STSM applicant can perform the activities detailed in the STSM work plan on the agreed dates;
  • Host details;
  • Recent CV+ list of publications

Templates are available on the e-cost platform.

Evaluation committee:

The projects will be evaluated by the STSM Evaluation Committee that is made up by the STSM Coordinator and the STSM evaluation committee members. In case of conflict of interest, the member that is constrained in the duties should recuse from the committee.

Applications assessment and communication of results:

The STSM Committee will evaluate the proposals considering the FinAI Action scope and objectives, alignment with WGs’ targets, as well as the ability to enhance research activities within the COST FinAI network.  The STSM proposal should demonstrate a potential for impact, implying that researchers involved can exchange expertise, get practical skills or learn new theoretical methods. Both early stage and senior researchers can be supported.

In evaluation, attention will be paid to gender balance, enabling early career investigators and PhD students, as well as broadening geographical inclusiveness. If other conditions are equal, preference will be given to applicants that have not previously used the funding opportunity.

In case of approval, the STSM coordinator will inform the Grant Holder by e-mail. The Grant holder will inform the successful applicants.

Applicants from ITC countries participating in the COST Action can request a pre-payment of 50% of their STSM Grant when they complete the first day of their STSM. The remaining 50% of the Grant is payable once the administrative requirements have been satisfied after the STSM.

Evaluation:

  • Diversity (COST diversity aspects) – 20%: young researcher (ECI = early career investigator), ITC applicant/ ITC host country, gender diversity;
  • Sound working plan – 40% – scientific quality, potential impact, originality, benefits for the Action;
  • WGs objectives – 40% – compliance with the Grant Period’s goals both of the CA 19130 and of the working groups;

In case of equal scores, priority will be given to the proposal that suits best the WGs objectives.