Start-up Funds
The incubator represents an exciting opportunity, providing a unique incentive for faculty to innovate, enhance our graduate and professional programming, and discover new ways to deliver a rigorous education.
Funding
The Provost maintains an Incubator Fund to provide seed loans for selected new and revitalized incubator programs. Given the costs associated with program implementation and the current funding available, it is projected that no more than 1-2 programs will be accepted into the incubator for any one cycle (i.e., no more than 3-6 programs will be incubated per year).
The Provost’s Incubator Fund will be maintained through loan repayment from the net operating surplus generated by existing incubator programs and participating in the revenue sharing of Incubator programs. The Fund will operate across fiscal years and will serve as a repository for incubator program revenue and source of payment for incubator program direct and indirect costs.
Incubator programs will have separate projected enrollment goals, financial plans and budgets, monitored by the Office of the Provost, the Graduate School and Office of Finance. Regular reports on the status of the fund will be provided by the Office of Finance and the Office of the Provost. To effectively manage incubator programs, budgets will need to be developed and managed separately from college budgets for the start-up period of programs.
The incubator represents an exciting opportunity, providing a unique incentive for faculty to innovate, enhance our graduate and professional programming, and discover new ways to deliver a rigorous education.
Funding
The Provost maintains an Incubator Fund to provide seed loans for selected new and revitalized incubator programs. Given the costs associated with program implementation and the current funding available, it is projected that no more than 1-2 programs will be accepted into the incubator for any one cycle (i.e., no more than 3-6 programs will be incubated per year).
The Provost’s Incubator Fund will be maintained through loan repayment from the net operating surplus generated by existing incubator programs and participating in the revenue sharing of Incubator programs. The Fund will operate across fiscal years and will serve as a repository for incubator program revenue and source of payment for incubator program direct and indirect costs.
Incubator programs will have separate projected enrollment goals, financial plans and budgets, monitored by the Office of the Provost, the Graduate School and Office of Finance. Regular reports on the status of the fund will be provided by the Office of Finance and the Office of the Provost. To effectively manage incubator programs, budgets will need to be developed and managed separately from college budgets for the start-up period of programs.