Submitting a proposal requires a concept proposal and a business plan. The process has been designed to be as straightforward as possible, while providing enough information for the Implementation Committee to make sound decisions. Applicants whose concept proposals are approved will be invited to submit a business plan.
As per the overriding mandate of this fund, the proposed initiatives will be primarily evaluated on their potential for cost-savings or revenue-generation. However, the Committee will also be taking the following criteria into account during the review process:
- The innovation does something novel, original, inventive
- The innovation is an improvement over what exists now
- The innovation can be implemented within the timeframe of this fund
- The innovation will benefit a large number of people
- The innovation meets an existing or future need
- The innovation appears to be feasible and there is a clear plan for implementation
- The innovation impacts organizational performance
- The innovation shows capacity for sustainability, future development and application
- The budget for the project is fully explained and justified
It is expected that no more than 20% of the fund will be invested in any single project, as a general guideline. As projects are approved, the fund will be depleted and it may take some time for it to be replenished. Applicants are encouraged to submit proposals early.
If a proposed project requires more seed money than what is remaining, or if it requires significant investment beyond the scope of this fund, the Implementation Committee will confer with senior administration to consider the proposal. All project proposals are welcome!