Caird was noted for his interest in providing financial aid for scientific research. He was one of the sponsors of Sir Ernest Shackleton's ill-fated Antarctic expedition of 1914 to 1916. The ship's boat, the James Caird, in which six of Shackleton's expedition made an epic voyage of 800 nautical miles (1,500 km) from Elephant Island to South Georgia, was named in appreciation of Caird's contribution.