Headlines (Campus Updates)
President's Innovation Seed Fund
President’s Innovation Seed Fund looking for more great ideas
Communications, Public Affairs & Marketing
After a successful first year, the President’s Innovation Seed Fund is again looking for creative and innovative ways to help Laurier generate new revenue and/or reduce operating costs.
Members of the Laurier community are invited to submit concept proposals for evaluation by the fund’s implementation committee. Applicants whose proposals are approved will be invited to submit a business plan. Assistance is available to help craft the business plan.
Established as a two-year pilot project in 2009, the President’s Innovation Seed Fund supports positive, forward-thinking initiatives that have the potential to produce new revenue and/or reduce the university’s operating costs.
The fund, which opened with a balance of $200,000, is guided by principles of revenue sharing and fund sustainability. It is intended that net revenues realized from a specific project will be divided equally between the originator’s faculty/department, the fund itself, and the university.
The implementation committee approved and funded four proposals during the first three rounds of the pilot project. While each is expected to generate revenue, they also enhance the programming that Laurier is able to offer its students and potential students. Successful projects have ranged from an English as a Second Language program that generates revenue while attracting international students to Laurier, to a summer acceleration program that increases the number of college transfer students recruited by Laurier Brantford.
“Each of the approved initiatives clearly increases Laurier’s capacity to achieve its goals,” said Steve Farlow, chair of the fund’s implementation committee. “We have been thrilled by the quality and innovative nature of the proposals received to date, and we strongly encourage members of the Laurier community to submit more ideas in this current round of funding.”
The implementation committee has been hard at work since last September, assessing proposals and helping to move the successful ones forward. The committee consists of a representative mix of faculty and staff from various departments and campuses across the university.
“This committee works extremely well together, said Ginette Lafrenière, an associate professor in Laurier’s Lyle S. Hallman Faculty of Social Work. “It is wonderful to be part of multi-departmental, multi-campus committee that enjoys discussing the university’s vision and values, and which is then able to provide real support to proposals that sustain that vision and those values.”
Important dates for the fourth round of the President’s Innovation Seed Fund:
• Oct. 8, 2010 – Deadline for concept proposals to be considered at the first committee meeting.
• Oct. 22, 2010 – Deadline for concept proposals to be considered at the second committee meeting.
• Nov. 5, 2010 – Deadline for concept proposals to be considered at the third committee meeting.
• Nov. 19, 2010 – Final deadline for submission of concept proposals for Round 4.
For more information about the fund and how to submit a proposal, visit the website at /innovationfund.
* Please note that the President’s Innovation Seed Fund is separate and distinct from the Strategic Investment Fund.