Technology Gap Innovation Fund

The technology gap innovation fund was started in an effort to help countries develop and grow technology research programs. The fund is intended to further technology innovations in commercial sectors.

To get access to this fund, a country must meet three requirements. First, they must provide a disclosure and assignment of technology. Second, they must write a two page proposal with a detailed description of their technology needs. Finally the proposal must be submitted by a specified deadline.

Once the proposal is submitted, the requesting country will have to wait for an eligibility determination. One point to note is that not all proposals are guaranteed funding. Each submission must be reviewed by a committee. After it's approved, it still takes time to be processed and for the funds to be released.

There are different technology gap innovation fund sections. A country may submit more than one proposal as long as it's tailored to a specific branch. The timeliness of submitted a proposal is critical. Funding is available on a first come first serve basis. So, a request can be denied if the branch has exhausted all its funding.

The technology gap innovation fund seeks to help as many as possible, however, as in any funding situations, there's only so much that can go around.

Many feel the technology gap innovation fund should have a bigger funding limit. Why not, with more funding, more people could take advantage of more opportunities. But, committee members agree that many proposals have outlandish funding requests while the program is only designed to help a larger group of people with smaller requests.

The technology gap innovation fund is seen by many as a step in the right direction. With its modest funding goals, it's able to reach more people rather than serving one or two big projects each year. But those who don't agree think the fund is too little too late.

Whatever the future holds for the innovation fund, it will continue to serve and support those countries willing to invest in their futures.

 

Written by: Frank J Klein - CIO

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