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Announcements

i3 Private-Sector Match Information

Posted on September 20, 2012 at 3:41pm

Sent: Friday, September 14, 2012 11:11 AM
Subject: i3 Private-Sector Match Information

 

Dear i3 Applicant,

 

As you know, potential i3 grantees under the U.S. Department of Education’s i3 program are responsible for obtaining private-sector matching funds or in-kind donations.  The exact amount required to meet the matching requirement depends on the total amount of federal funds an applicant is awarded, and the grant category in which the applicant applied. This year, Development grantees must secure a 15% match; Validation grantees must secure a 10% match; and Scale-up grantees must secure a 5% match.  While the Department is still in the midst of the peer review process and no funding determinations have been made, we would like to urge you to start securing your entity’s private-sector match as soon as possible.

 

Once the Department announces the highest-rated applicants (HRAs) later this fall, HRAs will have limited time to confirm their private-sector matches. In recent years, HRAs have had just a few weeks to obtain evidence of their private-sector matching funds or in-kind contributions; this short timeframe is understandably challenging for many HRAs. Therefore, it is essential that you start exploring options for securing your potential private-sector match now.  While Federal i3 grant awards will be made by December 31, 2012, HRAs must have private-sector matches secured well in advance of this date in order to be eligible to receive an i3 grant.  The attached document, which will also be available at http://www2.ed.gov/programs/innovation/index.html, provides some potential private sector resources that may assist you in your fundraising efforts.   One of the private sector resources identified on link, the Foundation Center, will be hosting a webinar on Friday, October 5th, 2012 at 1 pm (EDT), noon (CDT), 11 am (MDT), and 10am (PDT) at this this link: https://foundationcenter.adobeconnect.com/registryi3.   Please note that the Department does not endorse the resources identified in this e-mail or attachments, or any other specific private-sector source of support to meet the i3 matching requirement, but is providing this information as a service to potential grantees.  

 

For more information about the i3 matching requirement, please see the Investing in Innovation Fund (i3) Program Guidance and Frequently Asked Questions (available on the Department’s website at http://www2.ed.gov/programs/innovation/faq.html).

 

Sincerely,

The i3 Team

 

 

 

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