Grant Proposal Development and Opportunity Analysis
Rose-Hulman Institute of Technology
Economic Strategy
Rose-Hulman Institute of Technology (RHIT) 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,” which 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 primarily focused on its students and ensuring an affordable and successful educational experience. It has lacked the capacity required to engage with the Terre Haute community at scale. This project is an opportunity to explore, with the community, how Rose-Hulman might systematically and meaningfully engage, as a healthy future for Rose-Hulman is intricately tied to a healthy future for Terre Haute.
Our Approach
Fourth Economy conducted a community assessment using data to understand the community’s strengths and opportunities. We convened an advisory committee comprised of Rose-Hulman faculty and community members to guide and inform the project. We also conducted over 20 interviews with community members, Rose-Hulman alumni, and Rose-Hulman staff.
The Results
We supported Rose Hulman’s development the “Trails to Innovation” project, which was awarded $30.5 million by the Lilly Endowment for their College and Community Collaboration initiative, in August 2024. The project encompasses the development of Innovation Grove, a new entrepreneurial district designed to foster innovation, collaboration, and economic growth in the Wabash Valley. It also includes development of a solar farm to power the Innovation Grove district, as well as money to build a network of trails to connect Innovation Grove with Terre Haute’s existing trail system.
"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