Michigan Governor Rick Snyder created the Information, Communications and Technology Innovation Fund when he issued Executive Directive 2012-1 this week. The fund will allocate $2.5 million to assist state and local governments with technology projects that otherwise would go unfunded. The directive establishes management responsibilities as well as an investment board within the Department of Technology, Management and Budget (DTMB). The money will be allocated like a venture capital fund, where the funds would be repaid. The board will oversee management of the fund, including the solicitation of projects, eligibility criteria, performance and accountability, contractual reporting, loan repayment and project termination.
The Governor said that this money is to provide start-up funding and to encourage greater innovation and efficiency. The Fund is also supposed to enhance customer service by promoting state and local government technology innovation. The fund will improve how information technology resources are allocated, provide venture capital loans for new technology projects that otherwise would not receive funding and support the modernization of state government. The fund was authorized by Public Act 63 of 2011, and the department received a $2.5 million appropriation for the fund as part of the 2011-2012 state budget.
All state Executive Branch agencies and departments and shared service projects involving local governments and other public service providers are eligible to receive loans from the fund.
Andy Schor is the Assistant Director of State Affairs for the Michigan Municipal League. Contact him at (517) 908-0300 or by email at aschor@mml.org.
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