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There is a simple application and review process for interested entities. Applications are accepted on an ongoing basis. The following guidelines and steps should help you develop a responsive application.
Eligibility Determination: Review the eligibility and funding criteria to determine whether you and your proposal are eligible.
Proposal and Scoring Criteria: The proposal document outlines in very specific terms the proposal requirements and the primary criteria for funding, and the Scoring Criteria specify the factors that will be considered in the review process. A thorough review and understanding of these requirements and criteria will enable you to make a clear and thorough case for your project.
Draft Proposal Review: Respondents may request a preliminary review of the proposal with Fund representatives to answer any questions about the process, to seek guidance on the specific proposal requirements or to address the primary criteria for funding.
Two Phase Review Process: The review process consists of two phases, which provides an opportunity for clarification and potential refinements to the proposals.
Notification and Support Options: All applicants will be notified of the results of the review and approval process. There are three potential outcomes for projects that the Innovation Fund Board judges as meritorious.
Receipt of Award and Memorandum of Understanding: Awards will be issued in the form of loans. A Memorandum of Understanding (MOU) between the Innovation Fund Board and the respondent will formalize the award.
Monitoring and Reporting: Monitoring and reporting of the projects will be on a monthly basis and the provisions will be agreed upon within the MOU.
Repayment of Loan: The loan is to be repaid within three to five years. Repayments are to be in the form of inter-departmental transfers from either (1) the budgets of the service or functional areas which were the beneficiaries of the Innovation Fund sponsored initiative, or (2) other funds designated by the Director of the state agency that is the responsible authority for the initiative.
Agencies and Departments must repay the Innovation Fund from other appropriated funds if the ICT funded initiative does not succeed.
> Innovation Fund Proposal Document - 118784 bytes
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