Building ideas for new revenue to support teaching and research
The New Revenue Initiative team partners with colleges, schools, departments and administrative units across campus to explore, expedite and implement ideas to build new revenue to support our teaching and research mission.
Developing new, sustainable sources of revenue is one of several strategies being pursued at Berkeley to help establish a robust financial model for the future. New revenues will enable Berkeley’s colleges, schools, and departments to fund their priorities and enable them to continue breaking new ground in teaching and research.
What We Offer
In developing new ideas, the New Revenue Initiative team is here to assist you at every step of the way, whether you have a glimmer of an idea or a well-defined proposal. We offer consulting services, online tools, access to campus leaders and alumni business consultants, project management expertise, and access to start-up loan funding to help turn your vision into a reality. Our services are available to the entire Berkeley community -- individuals, teams, departments, and schools. We convene students, faculty, staff, alumni, and other supporters to build ideas and share expertise and diverse perspectives. We offer a range of services, from individual consultations, to facilitating connections, to offering loans to make your idea a reality.
Individual consultation. One of the biggest challenges schools and departments face is simply knowing where to start. Whether you’re just starting to think about new revenue ideas or you have an idea that you’re ready to pursue, our team can meet with you to provide insights or help develop a strategy to drive your ideas forward.
Facilitating idea-building. Our experienced team offers schools and departments a variety of idea-building sessions, including innovative Spark Sessions – in-person, customized events to help individuals or teams in your school or department imagine new ways to leverage a unit’s resources, facilities and talents. The New Revenue Initiative team also hosts in-person events, panels, and information sessions on issues relating to new revenue ideas. In addition, we offer an online idea generation and management platform, Ideaction, that allows the campus community to seek input and collaborate on promising concepts.
Validating early-stage ideas. We can serve as a thought partner to help evaluate and strengthen ideas, validate ideas with campus and external experts, and arrange for financial, market, and risk analyses.
Making connections with campus and external experts. In addition to our team's knowledge and expertise, we also facilitate connections to Campus Functional Experts in legal, finance, academic personnel, human resources, and other operational areas to review new business concepts and ensure that they comply with campus policy. We also make introductions to a network of volunteer alumni Business Advisors who have been invited to offer valuable insights about markets and industries to strengthen the viability of potential business ideas.
Market and financial analysis. A successful business proposal involves robust market and financial analysis that takes into account the costs, returns, market potential, and viability of the idea. If needed, our in-house team can help evaluate the market and competitive landscape for your idea, help assess its financial viability, and build revenue and expense projections.
Business proposal development. A business proposal is key to launching a new revenue idea successfully, whether or not you seek funding from the OE Program Office. A business proposal typically includes a market analysis, a competitive analysis, a financial analysis (including revenue and expense projections), and a strategic roadmap. If needed, a member of our team can help you put all the pieces together for a business proposal.
FUNDING AND IMPLEMENTATION SUPPORT
Access to start-up loan funding. Start-up loans are available through the New Revenue Initiative to help launch new projects. The goal is to return as much revenue as possible to the department or school or college or administrative unit developing the idea.
Project start-up and implementation support. We offer a menu of options to help projects get off the ground. With our project management expertise, we can help you:
- Develop a project plan
- Assemble a project team, including identifying project managers, sponsors, functional owners, and steering committees
- Assist in the development of success metrics and assessment plans
- Develop or review project budgets
- Consult on financial management best practices
- Develop plans to assess and mitigate project risks