University of Michigan Launches $1 Billion Fund for Innovative Ideas

U-M invites faculty and staff to apply for $1B in funding for innovative projects, supporting institutional transformation.

December 15, 2025

The University of Michigan is inviting faculty and staff to submit innovative ideas for a chance to receive funding from a $1 billion investment aimed at transforming ambitious concepts into reality. President Domenico Grasso announced this initiative during his State of the University address, highlighting the university’s mission to drive significant societal changes over the next decade.

This funding, available through the Strategic Initiative Fund, offers one-time financial support for impactful projects of various scales. Faculty and staff from all three campuses and Michigan Medicine are encouraged to propose projects demonstrating institutional value, social impact, and groundbreaking solutions.

People are blurred walking across the street on a sunny day with a large building in focus in the background — Students cross State Street in front of the Michigan Union Photo courtesy of Michigan Commons

The fund aims to fast-track ideas aligning with the university’s vision to generate deep or broad impact. In light of higher education’s current challenges, Grasso emphasized the need for bold solutions, stating, “The world’s brightest minds surround us on all three campuses, and together we can be more strategic and disciplined than ever about our finances. The answer is thinking differently.”

Proposals can receive funding in three tiers: up to $500,000, $1 million, and $5 million. The fund supports projects that:

Drive high-priority institutional transformation under the Look to Michigan vision.

Enhance research, teaching, or service impact in the vision’s five impact areas and six commitments.

Foster interdisciplinary collaborations for comprehensive problem-solving.

Address high-impact opportunities beneficial to the U-M community and society.

Provost Laurie McCauley noted, “Strong institutions invest in their people, especially during challenging times. The Strategic Initiative Fund represents a deliberate choice about where to invest when resources are constrained and innovation remains a core value.”

Initial investments under the Look to Michigan vision include the Faculty Expansion Program and Impact Institutes. Proposals for the first annual university-wide application period are due by Feb. 9, 2026, with evaluations conducted by a review committee of internal and external experts. Funding decisions will be announced in March 2026.