In response to the financial and transformational challenges facing the post-secondary education sector, the UFV Innovation Fund was launched in April 2014. The purpose of the fund is to provide resources to support transformative programs and/or ideas that show strong alignment and opportunity to advance UFV’s strategic goals with the potential to produce new revenue and/or reduce the university’s operating costs.
What the Innovation Fund does not fund:
Note: The Innovation Fund receives a priority one-time fund allocation from prior year reserves, as approved through the annual budget process.
The process has been designed to be as straightforward as possible, while providing enough information to make sound decisions. Submitting a proposal requires an initial concept proposal, which if approved will require a more detailed business plan. Proposals are reviewed and approved by the President’s Executive committee. Applicants whose concept proposals are approved are then invited to submit a business case. Applicants may be asked to present their proposal to the committee. See the table below for the 2018/19 Timeline, as well as Guidelines and Templates.
As per the fund’s mandate, the proposed initiatives will be evaluated on their potential for cost-savings or revenue-generation. In addition, applications for Matching Funds will be considered where advancement of strategic goals is evident. The Committee will also take the following criteria into account during the review process:
For questions or comments regarding the Innovation Fund, please email us at firstname.lastname@example.org.
|2018/19 IF Timeline|
|2018/19 Concept Proposal Guide|
|2018/19 Concept Proposal Template |
|2018/19 Business Case Guide|
|2018/19 Business Case Template|
|2018/19 Business Case Appendices A and B|