What is typically the purpose of a fellowship?

A fellowship is typically designed to provide funding for academic research. This kind of financial support allows scholars, researchers, or students to pursue specific projects that contribute to their field of study without the burden of financial constraints. Fellowships often come with additional benefits, such as mentoring, access to resources, or networking opportunities, making them valuable for professional development in academia and research.

Other options, while they represent specific funding mechanisms or support systems, do not capture the broad and research-focused nature of fellowships. Paid internships relate more to practical work experience rather than academic research, scholarships are usually geared towards educational expenses rather than research funding, and funding business projects typically falls under grants or investment rather than the scope of a fellowship.