How to Increase your Chances of Securing Technology Funding - Part 1

Acquiring new technology is a very worthwhile goal for any organization. However, it can be prohibitively expensive to cover the costs of staff, training and equipment so grants and funding are often the only way to secure the money required. In this two part article. I look at how to improve your chances of securing technology funding for your organization.

Perhaps the most important thing to remember before seeking funding for any technology is that the technology must bring your organization a step closer to its goals. Having a room full of state-of-the-art computers for no clear purpose is a waste and it is highly unlikely that anyone is going to provide you with funding for that.

Before you apply for any technology funding ask yourself how it will help your organization achieve its goals. Any prospective funders will certainly ask this question.

If your organization is in it for the long haul and you expect it to be around for a few years to come, it is well worth taking the time and making the effort to get to know the technology funding landscape. First and foremost, find out who is providing the funding and start building relationships.

Even if you have not secured grants from any of these funders it is certainly worth alerting them to the existence of your organization. If you do secure funding, be sure to stay in regular contact and maintain the relationship by providing regular updates on how the funds are being spent.

When you approach any funder for technology funding you will probably be asked about your technology plan. This should provide an account of what technology you already have in place, how it is being used and how it has been of benefit in the past.

Your plan should also detail how your organization would ideally like to use technology to move towards its goals in the future, and what technology is needed to achieve this. If you do not have a technology plan in place already, start doing this immediately.

Your success in securing technology funding will require you to know who is supplying technology grants and who is the most likely to provide funds to an organization of your kind.

As a general rule, you will probably have more luck getting funding from community foundations than national foundations. However, be sure to do your research. The Foundation Center (www.fdncenter.org) is an excellent place to start.

 

 

Written by: Frank J Klein - CIO

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