You are required to provide a number of appendices to support your Application. Applicants are provided with Excel templates for these appendices but these areÂ illustrative only. Applicants must decide on the most appropriate form of planning tools to illustrate key aspects of the project.
These must include the following items:
The applicant must set out the proposed timeframe for the projectâ€™s implementation. AÂ detailed workplanÂ must be attached to the Application setting out all of the project activities that will be undertaken and completed utilising the project resources set out in the project budget. A sample MS Excel workplan format is provided to all applicants. While an Innovation Grant supported project needs to demonstrate that it will be completed within a maximum of 24 months, the work-plan plan does not necessarily have to cover a 24 month period, if the project can be effectively implemented in a shorter period.
Key milestones for the projectÂ must be set out. These may relate to project initiation and setup, service design, market testing, implementation, or market performance. You can define the milestones you consider appropriate â€“ in a way that demonstrates that you are in control of the key stages for review, appraisal & reporting and how these relate to the wider work-plan and budget.
The financial information required by the Committee includes detailed projections of the costs (in US Dollars) associated with implementation of the project. A sample budget format is provided in MS Excel format to all applicants, but you can also set out the budget in a format that you consider most appropriate, however you must â€“ as a minimum â€“ provide the information included in the sample. This includes:
- Categorising areas of expenditure
- Projecting quarterlyÂ expenditure
- Identifying sources of funding/resources by contributing organisation
Profit and loss (P&L) projectionÂ
You must provide a profit and loss projection for the proposed service. These figures should be distinct from the project finances supported by the Innovation Grant and should relate to the income and expenditure for the proposed product or service.