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Innovation Task Force
“The George Washington University is fortunate that, thanks to prudent planning and investment, we have not faced the financial hardships currently affecting other universities. This situation gives us a unique opportunity to continue enhancing the excellence in everything we do. In fact, precisely because we are a strong university in good financial condition, it is an opportune time to analyze our operations in a fresh manner to seek new means for pursuit of our mission.” –President Steven Knapp
In 2008, President Knapp announced a plan to significantly increase its investment in academic programs and the George Washington University student experience by developing new support from philanthropic sources, increasing the productivity of research and instructional programs and locating savings in university business processes that can be reinvested in faculty, students, and academic initiatives.
To increase reinvestment in the academic enterprise, Dr. Knapp created the Innovation Task Force. Its goal at the end of a five-year-period is to reach an investment level of an additional $60 million dollars per year and double the impact of the current endowment.
To identify what George Washington does well in innovation and efficiency, what should be built upon for the future, and what can be done better in academic and business operations, the task force is seeking out and evaluating creative ideas from the George Washington community. Implementation planning is now underway for the top six innovation ideas generated by the George Washington community during an earlier phase of the project. Six ideas every six months will be implemented going forward.