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Since its launch last month, the School of Engineering and Applied Science’s $200 million Futures Fund has collected donations and reviewed applications for its first round of proposals.
The Futures Fund Partnership for Innovation supports research and startups at Penn through donations from Engineering School alumni and donors. The Daily Pennsylvanian spoke with Associate Dean for Research and Innovation at the Engineering School George Pappas about the proposal evaluation process and project requirements.
The fund serves to alleviate financial strain on researchers, largely due to a series of federal research funding cuts in 2025. Over the next five years, the initiative will provide up to $200,000 in seed support over two years to selected early-stage research projects.
According to Pappas, the fund collected 54 proposals from faculty last month, approximately 10 of which will be selected to receive funding in May. Proposals are submitted by faculty and intended to support Ph.D. student projects.
“So far, we have pledges for up to $40 million,” Pappas told the DP. “There’s a lot of excitement right now about the Futures Fund among our alumni and our donors, and they’re asking us how they can contribute.”
He added that proposals are evaluated based on three broad criteria. He identified the first as the projects’ field of research. The fund primarily supports projects related to physical intelligence, sustainable infrastructure, and human health.
Pappas stated that the fund includes a “matching process” to connect proposals from faculty and students with “philanthropic ideas and priorities.”
Another component is demonstrating that the project has “clear deliverables and milestones” that suggest an efficient use of resources. Regular meetings with the Futures Fund Board — represented by the initiative’s primary donors — will help to facilitate a “tighter interaction” between faculty, students, and the Engineering School.
The third aspect, Pappas explained, is “amplification potential” — often achieved by pursuing an ambitious research project.
“It could be that this is a very high-risk, very disruptive idea that the government or companies are not even thinking about,” Pappas said. “That’s the kind of thing where we feel we can see early research in those areas.”
Projects can also have amplification potential if they are considered “high-impact,” he said. This can include early-stage work aimed at unlocking “larger opportunities” with corporations or government partners, or efforts to launch a startup.
While the Fund has seen recent fundraising “success” toward its goal to raise $200 million over the next five years, its longevity depends on the consistency of pledges. Pappas expects another round of proposals to open in August 2026, although there is no set application cycle.
1984 Wharton and Engineering graduate Rob Stavis, who serves as a University Trustee and the chair of Penn Engineering’s Board of Advisors, is a contributor to the fund. Other involved alumni include 1995 College and Engineering graduate Robin Ren, 1996 Wharton and Engineering graduate Alex Krueger, and 2002 Engineering graduate Rohan Amin.
