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 of student, faculty, and staff success; research and discovery; and diversity, equity, inclusion, and engagement.
P3 funds are non-recurring funds generated by the public-private partnership with the university’s utility system and can be requested for a one- to five-year time period. A letter of intent to submit a proposal for P3 Year 1 funds must be submitted by March 12. More details and the online form to submit the letter can be found here.
As part of the review process, letters of intent first will be reviewed and approved by collegiate deans or central unit leaders of all relevant units. Individuals submitting a letter of intent should discuss their proposal with the applicable collegiate dean(s) or central unit leader(s) before submitting the letter of intent.
The UI’s Strategy Team, co-chaired by Executive Vice President and Provost Kevin Kregel and Vice President for Research Marty Scholtz, then will review the letters of intent and invite selected projects to submit a full proposal by May 3. The proposed projects and subsequent allocation of funding will elevate the university’s commitment to one or more of the identified strategic priority areas.
“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,” says Kregel. “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.”
The P3 funding program also is intended to provide unique opportunities to strategically invest in areas of distinction that focus on developing Iowa into a destination university—the first choice for students, faculty, and staff. Therefore, letters of intent should illustrate how proposed projects will contribute to this goal.
Priority will be given to projects that demonstrate the following criteria:
- Institutional-level high impact across more than one strategic priority area (student, faculty, and staff success; research and discovery; and diversity, equity, inclusion, and engagement);
- Explanation of how project activities are outside the scope of, or unable to be supported by, the current budget model (project activities should extend beyond core functions or operations related to the central missions of teaching, research, and service);
- Potential to leverage additional funds (i.e., grants, philanthropy, and/or other strategies) to ensure the continuation of project activities beyond the initial funding period; and
- Cross-campus collaborations, including interdisciplinary, cross-unit activities that build on existing strengths and/or areas of opportunity for growth and distinction.
“This is a remarkable opportunity for faculty and staff to put forth ideas that support the university’s core mission in creative and dynamic ways,” says Scholtz. “I look forward to seeing the new slate of proposals.”
Nearly $1 billion in funding from the university’s 50-year partnership with ENGIE North America and Meridiam to operate the utility system was placed in an endowment. Earnings from the endowment will allow the university to invest about $15 million per fiscal year via grants dedicated to supporting the UI’s strategic plan and core missions of teaching, research, and scholarship.