This is an interesting agenda. The best case would be having one Research Grant installed and the runner hitting Architect in another server on a last click, letting you install two more Research Grants. Then 3 advancement actions would net you 3 AP. This is impressive. 4 clicks and 3 (1 to install the first, 3 to advance) for 3 AP is very nice.
More likely you would install two of these agendas, bluffing them as assets or upgrades either naked or behind ice. Assuming neither gets run, you can triple advance the one, bonus score out the other, and gain 2 AP. This for a total of 5 clicks and 3. Again, not a bad trade.
Unfortunately, I see this following situation happening most often: installing 2 Research Grants and one being run and stolen. Seeing the agenda's ability, a smart runner would run another unadvanced facedown asset, hoping to get a second Research Grant. Now you've spend two clicks to install two agendas and have lost them both. Thankfully, at least all you've given up is 2 AP.
Because a runner encountering this agenda will likely run again on unrezzed assets, I see this being a difficult agenda to implement. However, I could see a potential combo with various traps (especially Snare!) into which you can bait the runner, them assuming wrongly the card to be another Research Grant.
Other than in an asset/trap based deck, I see little use for this agenda.