What makes a project stand out in a sea of grant applications? The incorporation of fundable elements. The more of these features your project has, the better its chances of securing funding. If you are able to incorporate these elements early on in the design and construction process, your project will have more long-term success.
Here are a few fundable elements to consider incorporating:
Highlight what you’re already doing. Capital infrastructure projects can create jobs, both short-term and long-term. Furthermore, capital projects are often part of larger development and revitalization efforts. Think about how your project contributes to economic stimulus and/or serving the underserved communities in your area and then highlight those contributions in your proposal.
Funders are interested in supporting projects that have the support and participation of the community. Formalize existing connections by asking for a letter of support, letter of commitment or memorandum of understanding. Also make an effort to make new, strategic connections with those who may be positively impacted by your project. The more connections and support your project has, the more fundable it will be.
Incorporating best industry practices in your capital infrastructure project also helps its chances of funding. Emerging or green technologies incorporated early on in the design and construction phases of your project shows funding agencies that you are innovative. This also opens the door to a partnership with a research institution, power company, or environmental group, thus boosting your project’s fundability.
As you can see, there’s many ways to include fundable elements into your project and grant application. The incorporation of these doesn’t have to involve dramatic changes either. Take a look at the details of your project and see what sorts of fundable elements you can include in the design. Learn more about Dig Deep so you can be among the first to know when grant opportunities open up.
