Strategic Initiative Funding

Individuals or teams participating in Drexel 2030 Strategic Plan implementation may submit a proposal for strategic initiative funding according to the process and guidelines. Proposals must be innovative, impactful and relate to one or more of the six imperatives. Priority will be given to strategic initiatives which support the road to financial sustainability and demonstrate a return on investment.

The strategic initiative funding is purposely meant to move forward innovative projects directly related to the Drexel 2030 implementation. As such, proposals should clearly have support and align with recommendations from Drexel 2030 initiative teams and/or imperative teams. Specifically highlighting how the proposal builds from the work of the initiative and imperative teams is important for demonstrating alignment of the proposal with the fundamental focus of Drexel 2030.

There is no pre-determined award amount or tier. Proposals will be reviewed by the CORE team and senior leadership and evaluated on a case-by-case basis. Funds awarded are to be utilized as seed funding for the first two years. The proposal requires a plan for continued funding beyond year two, as necessary.

Funds may be utilized as seed funding to support various aspects of a strategic initiative for the first two years. The proposal requires a detailed budget plan outlining the use of funds and return-on-investment (ROI) analysis.

Each proposal is evaluated first by the CORE team (pre-proposal). Pre-proposals which are approved to move forward to the full proposal stage will be evaluated by a Strategic Initiative Panel (SIP) made up of area experts related to the initiative. In some instances, it may be requested that a department or unit help support an initiative, such as through financial, personnel or other resources.

The proposed budget is a key aspect of the proposal to demonstrate both feasibility and anticipated return on investment. While the budget is a projection, there should be support and rationale for estimates in order to clarify assumptions. If you have particular questions about how best to frame the budget, please reach out to Drexel 2030 where CORE team members with expertise in finance can assist.

Pre-proposals may be submitted at any time and are reviewed on a rolling basis.

Pre-proposals are reviewed and evaluated on a rolling basis by the CORE team. Submitters can expect to receive feedback and an initial decision from the CORE team within four to six weeks of submission of the pre-proposal. If the proposal moves forward to the full proposal stage, the timing is variable depending on the convening of the Strategic Initiative Panel (SIP) and any associated requested revisions to the proposals.