The University of Iowa is now accepting letters of intent from faculty and staff who plan to submit proposals for P3 Year 1 funding for initiatives that support the university’s strategic priorities until March 12.
The university’s strategic priorities include student, faculty, and staff success; research and discovery; and diversity, equity, inclusion, and engagement. According to a release from Iowa Now, priority will be given to projects that focus on developing Iowa into a destination university for students, faculty, and staff.
P3 funds are non-recurring and generated by the public-private partnership with the utility system. The funds can be requested for a one to five-year time period.
Letters of intent will be reviewed and approved by collegiate deans or central unit leaders. Faculty and staff are required to discuss their proposal with applicable leaders before submitting the intent.
UI’s Strategy Team, led by Executive Vice President and Provost Kevin Kregel and Vice President for Research Marty Scholtz, will review letters of intent and invite selected proposals to submit a full proposal by May 3.
“We are eager to receive what we expect will be a wealth of ideas for innovative, collaborative projects that can make a real difference for the future of the university,” Kregel said in the Iowa Now release. “We have strong guiding principles in place to make sure we invest this important strategic funding as wisely and as effectively as possible, and we are committed to an inclusive and transparent process.”
Additional priority will be given to projects that have an institutional-level high impact across more than one strategic priority area, explain how the project’s activities are unable to be supported by the current budget model, have a potential to leverage additional funds to continue the project, and include cross-campus collaborations.
Earnings from a $1 billion endowment from the university’s 50-year partnership with ENGIE North America and Meridiam will allow the university to invest about $15 million per fiscal year through grants dedicated to supporting the UI’s strategic plan and core missions of teaching, research, and scholarship.