The U.S. Department of Education today announced the 49 school districts, nonprofit education organizations and institutions of higher education have been selected as finalists for funding under the Investing in Innovation (i3) program which will support local efforts to start or expand research-based innovative programs that help close the achievement gap and improve outcomes for high-need students. The Department narrowed down the nearly 1,700 applicants down to these 49 finalists based on recommendations from independent peer review panels.

Grants fall into three categories:

1. Up to $50 million per “scale-up” grant for programs with a strong track record of success;
2. Up to $30 million per “validation” grant for growing programs with emerging evidence of success; and
3. Up to $5 million per “development” grant for promising ideas.

To receive a share of the $650 million in i3 grants, the applicants must now secure a commitment from the private sector for a 20 percent match in funds by September 8, 2010. You may view all 49 finalists here.

Tags: federal grants, funding, innovation grants

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