This article compares empirically the major factors affecting blinded and sighted reviewers in the selection of research proposals to be funded in a "scientifically small" country. Fisher's Z-test shows that the applicant characteristics (rank of undergraduate school where the applicant studied, professional age of the applicant, and academic recognition of the applicant) are the major factors leading to the significantly different evaluation scores between blinded and sighted reviewers. This means that "open" evaluation of research proposals is obviously biased. Policy implications of the findings and future research directions are discussed.