The Raymond Corporation University Research Program announced on July 13 it will now review applications twice yearly — in the fall and winter semesters — for professors and student researchers who have innovative solutions for enhancing the material handling industry.
With the ever-changing advancement of material handling, the theme for the 2023-24 research proposals is “Research to Enable the Future of Material Handling.” The program announced the current request for proposals in June 2023, with a corresponding deadline of October 2023.
According to a company news release, Raymond Corp., a member of the Toyota Industries family of companies, is in its sixth cycle of accepting applications for grant funding that can total up to $500,000 annually.
Selected proposals may receive financial support of up to $250,000 for 12-24 months of research. The University Research Program will evaluate research proposals from North American universities based on several criteria, including timeline, budget feasibility and the possible impact on the material handling industry’s future.
“The changing economic landscape and the continued growth of e-commerce has fueled the rapid advancement of the material handling industry,” said Michael Field, Raymond’s president and CEO. “Collaborating with academia’s best and brightest will fuel the exploration of new technology and innovative approaches, which will inspire the supply chain of the future.
Proposals that received University Research Program funding from previous years covered topics such as automation, virtual reality, augmented reality, energy infrastructure, Internet of Things and Industry 4.0.
“Raymond’s commitment to research and education and our investment in the University Research Program allow us to support the next generation of material handling innovators who will move our future forward,” Field added in a statement.
For more information on the University Research Program, visit universityresearchprogram.com.