Research councils began as channels for state patronage of science (a
widespread phenomenon after World War II) and were captured by scienti
sts: peer review of proposals, panels, board membership. In this way,
they became an important organ of the 'Republic of Science' (Michael P
olanyi's concept). Being awarded a grant is now as important for the r
eputation or status of a scientist as the money value per se: research
councils have become part of the reward system of science. Credibilit
y-cycle analysis (Latour and Woolgar) is used to show this; and then a
pplied to the research council itself, between the State and the natio
nal scientific community. Current concerns about proposal success rate
s and conservation are analysed in terms of dynamics of this research
world. This sociological approach to research councils allows analysis
of changes in the reward system of science (where 'relevance' is beco
ming an accepted criterion world-wide) and of the complex environment
of research councils, where many actors now compete for the intermedia
ry role. Research councils must also become entrepreneurial - or becom
e obsolete.