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 was relaunched in Fiscal Year 2021 with a new application process.
Step 1: Agencies submit a detailed description of their project idea, including an estimated budget, evaluation plan and measurements, and timeline and plan for project implementation. If you would like to be considered for Innovation Funds to be included in your FY22 budget, please submit proposals by Dec. 17, otherwise, proposals will be accepted on a rolling basis during the fiscal year.
Step 2: Proposals will be evaluated by a Review Team that includes staff from BBMR, CitiStatSMART, BCIT, and the Mayor’s Office. Any proposals received by Dec. 17 will be eligible to be included in the FY22 Budget. Those received later in the fiscal year will be assessed by a Review Team on a rolling basis.
For further details, see the guidance document below.
Innovation Fund Contact
Rob Feehley, Business Analyst