Since 1970, NIST's Precision Measurement Grants have enabled researchers to conduct significant work in field of fundamental measurement or determination of more precise values for fundamental constants of nature. NIST sponsors these research projects primarily to encourage basic, measurement-related research in universities and colleges and other research laboratories. NIST anticipates funding 2 projects at most, depending on availability of funding, for up to 3 years at $50,000 per year.