To encourage innovation and entrepreneurship at Marquette, the strategic innovation fund was created with approximately $4.5 million in initial funds to invest in new ideas, initiatives and programs that support and advance the goals and priorities outlined in the university’s strategic plan, Beyond Boundaries.
Similar to a venture capital fund, the university will provide seed funding — and risks and failures are accepted and expected. Innovation funds may be used for a wide variety of projects including launching new academic programs, developing new interdisciplinary research clusters, building community and industry partnerships, supporting entrepreneurial student ventures, or funding ideas that will help the university operate more effectively.
To be successful, it is important to share these new ideas and initiatives with multiple constituencies, celebrate successes and learn from failures. To that end, Marquette will use social media, open forums, internal and external formal and social events, and newsletters and publications to invite proposals, encourage cross-campus collaboration and share the outcomes of the funded initiatives and programs.
Process and Timeline
Process and Timeline
Individuals or teams (faculty, staff and students are all eligible) develop innovative ideas that support one or more themes of Beyond Boundaries, the university’s strategic plan.
Step 2 Short pre-proposals are submitted to the new University Innovation Council for review; the Innovation Council will review and provide feedback. Pre-proposals are required for participation in this year’s competition. There will be no selection of proposals to continue to the final submission – any pre-proposal that is submitted will be eligible to continue to step 3.
Applicants revise and refine proposals, as appropriate. Small requests (< $5,000) will continue to short application format; major requests will require more detail. All final proposals will require budget and signature pages. Templates for final submission materials will be made available by February 2015. The Innovation Council and University Financial Planning and Review Committee will review and provide feedback to University leadership.
Further review will include the University Leadership Council; the president and provost will give the final review. The president will announce the awards.
Final budgets and milestones will be established. Annual reports will be reviewed by the University Innovation Council and posted on the Marquette Innovation website.
Updated Timeline Revised December 3, 2014
October 2014 – Innovation Council established
November 2014 – Council finalizes application templates and reviews criteria
Additional details about the process, criteria, submitted proposals and annual project outcome reports will be added as they are available. Please send questions about the fund to email@example.com.
NIH Funding Acknowledgment:Important Reminder – Please acknowledge the NIH when publishing papers, patents, projects, and presentations resulting from the use of CTSI resources by including the NIH Funding Acknowledgement.