About the Fund
Born out of the Outcome Budgeting process, the City of Baltimore’s Innovation Fund started in Fiscal 2012. The purpose of the fund is to provide seed money for one-time investments that will lead to improved results, increased revenue, and/or reduced ongoing operating costs for City services.
The Innovation Fund is meant to be self-sustaining; savings from the investments are returned to the Fund so that other projects may be funded.
Continuing this Fund is one way to keep City agency heads and staff focused on innovation and spur creative solutions on how to use our limited resources.
Applying for a loan
The Innovation Fund application process has four steps. Each is designed to assist agencies in submitting high-quality proposals that meet the award criteria, thus maximizing the project evaluators’ time as well as the Fund’s limited resources.
Step 1: An agency’s initial interaction with the Fund will be to complete and submit a short questionnaire outlining a project idea to determine if the idea is a legitimate and achievable one.
Step 2: Agencies with actionable proposals will then submit a detailed description of their project idea. This proposal will be reviewed by an internal evaluation team, comprised of members selected by the Mayor’s Office, with guidance from BBMR. This team will evaluate whether the proposed idea scores highly against project criteria.
Step 3: If the proposal meets the criteria, agencies will participate in the third step of the application process: planning and detailing the financial and performance aspects of the project. In this step, project managers will collaborate with BBMR to produce a realistic financial application.
Step 4: Upon completion of the application at the above step, agencies will present the full proposal to the Innovation Fund Committee, which will either provide the final thumbs up on a project, or ask for additional research. The Committee consists of five to seven members who are subject matter experts in government operations and innovation.
For further details, see the guidance document below.
Innovation Fund Contact
Matthew Rappaport, Budget Analyst
P: 410-396-4951 | [email protected]