Enterprise, Opportunity, and Innovation Fund
This fund exists to assist with the startup costs of a student project, facilitate attendance at conferences or other development opportunities, and to assist with costs of unique one-time projects that benefit students at-large.
The Enterprise, Opportunity, and Innovation Fund mandate is:
Enterprise -- Remove the financial barrier of start-up costs that may prevent the development of new initiatives. Preference is given to submitted proposals that are designed to become self-funded projects once the period they have been funded for (under three months) ends.
- Examples: Solar Panels.
Opportunity -- Dedicated to supporting students who wish to engage in conferences or development projects.
Innovation -- Granted to initiatives that are not designed to continue, but that will provide a continuing benefit to campus.
- Examples: Hosting a conference on campus (TEDxUW).
The Enterprise, Opportunity, and Innovation Fund is administered by the Internal Funding Committee, a standing committee of Students' Council.
The committee is chaired by the VP Internal and made up of two members of Council and two students at-large, elected by Council every term. It awards funding from the funds as reimbursements for expenses for student projects benefiting uWaterloo undergraduate students.
Guidelines of the IFC regarding EOI proposals
- Interest and Relevance -- proposal should demonstrate a benefit to the overall student experience. Applicants should clearly state how their project or attendance at a conference will benefit the entire student body. For example, attending a conference and holding workshops on campus on the conference material.
- Capability -- should demonstrate capable management of the intended project.
- Need -- should demonstrate financial need for the project to go ahead.
- Usability -- should demonstrate a plan for continued use of any items to be purchased (refer to Guidelines for Equipment Purchases below).
- Due Diligence -- proposal should demonstrate diligence in presenting its budget (at least three quotes or alternatives are expected to be submitted to the committee, where possible), finding funding sources, and other specific criteria.
- Course Credit -- funding is only granted for non-academic projects.
- Charitable Funding -- the IFC does not make charitable donations, and will sponsor all events based solely on their merits of the above guidelines.
- Intangibles -- (i.e. meals, etc.) are funded on a case by case basis.
- Alternative Funding Sources -- the fund is generally treated as a “last chance” fund. Applicants must either show that they have looked elsewhere for funding or that there are no other funding options available, and should be prepared to spend some of their own money (for conferences) if able.
- Application Submitted After Event -- will generally not fund.
- End-of-Term Formals -- will generally not fund.
Guidelines for Equipment Purchases:
- Everyone on campus should be able to access or benefit from the use of the equipment.
- The equipment must always be stored on campus in approved areas (i.e. not in residences).
- The equipment must be relevant to student interests.
Guidelines for Conferences:
- The proposal must demonstrate how participants’ attendance will benefit the general student population.
- Plans to bring knowledge from the conference back to campus (i.e. through workshops or presentations) should be clearly outlined.
- Food and travel expenses for conferences will be funded on a case-by-case basis.
Example: See above examples.
General Funding Procedures of the Internal Funding Committee
- Fill out and submit an electronic copy of the IFC application form and submit to the VP Internal, including a budget of the project.
- The VP Internal will forward any questions of the committee to the applicant and request a response within two days.
- The committee will meet to discuss the proposal and will determine if funding will be granted, how much, and any stipulations to funding. The committee is empowered to make its funding conditional, provided that the conditions are set out in writing and agreed upon by all parties.
- The VP Internal will notify the applicant of the results with the committee’s rationale, and will forward the assessment of completed project form to the applicant.
- After the project is completed, the applicant will forward the assessment of completed project form to the VP Internal, to be reviewed by the committee, with itemized receipts or invoices for the project costs to be funded.
- Reimbursements will NOT be granted before the assessment of completed project form is completed, sent to the VP Internal, and reviewed by the committee.
- To ensure enough time for review, it is recommended that you submit your application at least three weeks before your event/project date. The committee will make all efforts to arrive at a decision before the event where possible, as it generally meets once a week. Applications that are submitted less than three weeks in advance are not guaranteed to be decided on by the committee before the project date. Please contact the VP Internal (firstname.lastname@example.org) or 519-888-4567 ext. 33780 with any questions.
To apply, please fill out and submit this online application form. If you have any questions, please contact the Vice-President, Internal, for the Federation of Students, at 519-888-4567 ext. 33780 or via e-mail at email@example.com.