Grant Proposal Development and Opportunity Analysis
Rose-Hulman Institute of Technology
Economic Strategy
Rose-Hulman Institute of Technology is a private university renowned for fostering talent, as demonstrated by its 25 consecutive years as the number 1 ranked undergraduate engineering college in U.S. News & World Report’s Best Colleges Guide. They have recently adopted a new strategic plan: Advancing by Design, that includes four primary goals: Infuse Sustainability into the Rose-Hulman Education and Culture; Instill a Mindset of Innovation, Discovery, and Entrepreneurship; Prepare Students to be Leaders in a Global and Diverse Society; and Increase the Affordability and Value of a Rose-Hulman Education.
To date, RHIT has been primarily focused on its students and ensuring an affordable and successful educational experience and has lacked the capacity required to engage in and with the Terre Haute community at scale. This project is an opportunity to explore, with the community, how Rose might be able to do that more systematically and meaningfully, as a healthy future for Rose is intricately tied to a healthy future for Terre Haute.
Our Approach
We conducted a community assessment using data to understand the community strengths and opportunities; we convened an advisory committee comprised of Rose faculty as well as community members to help guide and inform the project, we conducted over 20 interviews with community members, Rose alumni, and Rose staff. We are working on drafting the grant proposal for the Lilly CCC Initiative, and an Opportunities Memo with other potential activities and endeavors. Beyond the scope of Lilly CCC.
The Results
In August 2024, Rose-Hulman was awarded a $30.5 million grant from Lilly Endowment to launch the Trails to Innovation project, marking the largest single contribution in the college’s history. The key tenants of the project include:
Entrepreneurship and Technology Hub:
Engineering consulting and technology design and development firm
Surgical center for hip and knee replacements
STEM and robotics education programs
Dedicated spaces for Rose-Hulman's network of entrepreneurial alumni and supporters to mentor and collaborate with emerging innovators
A 5 megawatt (MW) solar farm
Trail Network that promotes active lifestyles and community engagement
"We do certainly recognize the key role that Fourth Economy played in us reaching the point of submitting a successful proposal and owe you and your team a huge debt of gratitude for that work and counsel. We believe this grant and the groundswell of support we’ve received surrounding this award will be transformational for Rose-Hulman. Thank you for your invaluable support and for being a crucial part of this exciting journey. We look forward to the profound impact this initiative will have on our community."
- Robert A. Coons, President, Rose-Hulman Institute of Technology
Location
Terre Haute, IN