For the third consecutive year, the Office of Financial Innovation and Transformation (FIT) is offering the Financial Management Innovation Partnership (FMIP). The FMIP is an initiative run by FIT to explore technologies that have the potential to improve the efficiency and effectiveness of federal financial management. Selected agencies will earn funding support for their projects to aid them in advancing their ideas, pilots, or proofs of concept with the intent of shaping novel concepts into concrete solutions. Preference is given to new/emerging technologies or technologies with limited adoption across the Federal government.
See the recipients for 2018 and 2019 and read their stories!
Calling all Federal Agencies with innovative ideas!
FMIP is soliciting ideas from federal agencies that can help overcome the problems faced by the federal financial management community. Although all ideas are welcomed, the FMIP has specific interest in projects that involve artificial intelligence and blockchain. We’re also interested in innovative solutions to challenges surfaced by COVID-19 and the CARES Act.
Proposals must meet one or more of the following objectives:
- Optimize and digitize financial management processes
- Increase the value and availability of financial data and analytics to advance sound decision-making and insight
- Improve the productivity, transparency, and quality of service of federal financial management
- Offer customers a modern user experience that is simple, reliable, transparent and secure when they interact in federal financial transactions
By providing funding assistance to agencies to pilot and evaluate promising innovations through the FMIP, Treasury can accelerate and promote adoption of these capabilities across the federal government.
Summary and Requirements:
- Open to federal agencies in the executive branch
- 3-6 month duration for the proposed pilot or proof of concept
- Proposed solution needs to address at least one of the above objectives of the initiative
- Must be a solution that supports similar needs at other Federal agencies
- Funds must be obligated no later than September 30, 2020
- Recipients will be requested to meet on a periodic basis to:
- Report out status updates and project findings; and
- Share their best practices, lessons learned, and outcomes with FIT and other agencies across the federal government
- 2020 FMIP application period opens: June 8, 2020
- Application Deadline: July 10, 2020
- Recipients Announced: by July 31, 2020
Download the FMIP Submission Form and submit by July 10, 2020 to be considered.
For more information, contact:
In the subject line, note "FMIP Question".