Investing in Innovation Fund - Fact Sheet

Investing in Innovation Fund
October 2009

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FY 2010 proposed budget:
$100 million
American Recovery and Reinvestment Act:
$650 million
Grantees:
School districts and nonprofit organizations working with districts or a consortium of schools
Type of Grant:
Competitive

Purpose:

To provide competitive grants that expand the implementation of, and investment in, innovative and evidence-based practices, programs and strategies that significantly:

• improve K-12 achievement and close achievement gaps;
• decrease dropout rates;
• increase high school graduation rates; and
• improve teacher and school leader effectiveness.

To accelerate the creation of an education sector that supports the rapid development and adoption of effective solutions.

Proposed Program Requirements:

Local education agencies (including charter school LEAs), and nonprofit organizations working in collaboration with LEA(s) or a consortium of schools, are eligible to compete for i3 funding. To be eligible for an award, an LEA applicant must be located within one of the 50 States, the District of Columbia, or Puerto Rico. In order to be eligible to apply, applicants must:

• Have significantly closed the achievement gaps between groups of students;
• Have demonstrated success in significantly increasing student academic achievement for all groups of students;
• Have made significant improvement in other areas (graduation rates, high-quality teachers and school leaders);
• Demonstrate that they have partnerships with the private sector that will provide matching funds.

Applicants will submit proposals to one of three categories: "Scale-up", "Validation"; or "Development." The level of evidence supporting the idea will determine which category is most appropriate.

Timing of Applications and Awards:

The Department of Education anticipates accepting applications in early 2010, with all applications due in early spring of 2010. The department will obligate all i3 funding by September 30, 2010.