Finding the Right Technology Funding

Technology price tags have come down drastically in the last decade. But the challenge still lies in finding adequate money to successfully implement initial technology capital investments and ongoing maintenance activities.

The good news is that funding organizations are more likely to sponsor robust technology proposals. Grant organizations understand that technology touches every aspect of our modern lives.

The bad news is that throwing together a hardware and software list— based on wants — and calling it a proposal is no longer a viable option. Grants, especially technology grants, are based more on strategic objectives. You must have goals and an evaluation process that helps you measure your progress.

To increase your technology funding odds, heed the following five tips.

Technology is an Ongoing Cost

No technology proposal should be written as a one-time investment cost. As consumers, we understand that we'll have to replace our computers, phones, and cars at some point. It's the same in business.

Technology should be a standard budget item. Show funding sources that you can think long-term by including ongoing technology costs in your overhead account.

Plan for Technology

How do you get the money you need if you don't have a plan? You won't. Funders are savvy enough to understand a good technology plan or recognize a bad one.

Having a technology plan should be used for more than just funding purposes. A technology plan keeps you out of trouble. If you don't have a plan, you'll be reacting to crisis after crisis, trying to cope with a swift moving technology environment.

Be Creative in your Funding Search

Look for funding sources that are more apt to support your mission or cause. It's hard to get funding based on a technology proposal alone.

Funders are seeking organizations they can support. They understand technology is critical to creating and effective program. Show funders your dedication to your mission. Sway them with your organization goals rather than your needs. Once they can support your objectives, the money will follow.

Seek out new Funding Sources

Communities at every level understand the need to develop technological expertise. As such, new technology funding sources are rapidly coming on the scene. This is especially true if you live in an existing high area. Keep your pulse on emerging donors.

Look at the Past

Of course, don't forget past donors. If you've received any sort of funding in the past, don't be afraid to approach these sources again. If you were successful in the past, you'll more than likely be able to secure funding for other initiatives.

Finding the technology funding to match your goals doesn't happen by accident. If you have a solid plan and approach the right funding sources, you will get the funding you need.

 

Written by: Frank J Klein - CIO

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