FRIPRO is a funding scheme for independent research projects encompassing basic research in all areas. It is a key instrument of the Research Council of Norway (RCN) for fostering basic research and promoting high scientific quality through open national competition for funds. Moreover, the scheme aims to promote the development of basic theory and methods, scientific renewal and research recruitment. This evaluation was initiated by the RCN to assess the degree to which the scheme achieves these objectives. It is based on comparisons of the outcomes of funded and rejected FRIPRO projects (via survey replies and bibliometric data), analyses of the application portfolio, interviews with key stakeholders and data available in national R&D statistics. We also compare the findings with data from previous studies on the outcome of research funding schemes.