President's Innovation Seed Fund
Laurier launches President's Innovation Seed Fund
Communications, Public Affairs & Marketing
A message from Dr. Max Blouw, President and Vice-Chancellor
To the Laurier community,
Universities across Canada continue to struggle with financial challenges. The pressures are both cyclical, as we have seen in the current global economic downturn, and systemic, as we have experienced in the Ontario post-secondary educational environment for some years.
We will continue to lobby government for change, but we must also continue to look internally for creative and innovative ways to generate new revenue and reduce operating costs.
Laurier has a reputation for excellence in many areas ó teaching, research and a distinct sense of community, to name just a few ó and there are many in our campus community who consistently demonstrate leadership and innovation. In recognition of this, and in an effort to address the universityís financial challenges in a positive and creative way, the university is establishing a seed fund to encourage innovative ideas that generate new revenue and/or reduce operating costs.
The Presidentís Innovation Seed Fund is a two-year pilot program with an initial fund of $200,000. Major projects supported by the fund will not only enhance Laurierís position as a leading university but will also provide a platform for increased collaboration within and between faculties, departments and campuses. Each year, the top revenue-generating and cost-reduction projects will be recognized and shared with the Laurier community.
The fund will be guided by principles of revenue sharing and fund sustainability. As a starting point, it is generally expected that net revenues realized from a specific project will be divided equally between the originatorís faculty/department, the fund itself, and the university.
The Presidentís Innovation Seed Fund provides an exciting opportunity to initiate projects that will positively affect Laurierís future. Faculty, staff, students, and alumni ó working individually or in groups ó are encouraged to submit concept proposals. These proposals will be reviewed by a steering committee, which will identify the most promising ideas and invite the proponents to develop a more detailed business plan.
If you have any questions, please do not hesitate to contact the steering committee at firstname.lastname@example.org. For more detailed information, visit the website at /innovationfund.
I encourage everyone in the Laurier community to participate, and I look forward to your ideas and proposals!
Dr. Max Blouw
President and Vice-chancellor
Wilfrid Laurier University