The Creativity Endowment is proposed to encourage innovation and offer incentives for creativity concerning affordable transportation.  The endowment will ensure that many universities and design teams propose a variety of creative ideas that will ultimately help the developing world.  This will allow a critical mass of engineering effort in the design competition and perpetuate high quality research on the marketing projects.  IAT’s Board of Director’s would oversee the proper functioning of the fund.

Professors are more likely to undertake a "funded" project than an unfunded one.  Money is required to build prototype vehicles ($3000 per project on average).  Whereas corporate sponsors offset some costs and often donate components, an endowment provides the flexibility of cash to the design team, a distinct advantage.  Cash facilitates creativity because students have more sourcing options.  Also, money can be wired quickly and efficiently, products cannot…this is especially true for foreign universities.

Design Ownership:

IAT maintains the rights to the design so that it can keep the design "open" (non-proprietary) and publish the design on the IAT website. In order for a school to receive money from the Endowment, the school concedes ownership of the design and the prototype to IAT.  IAT can then complete more vehicle tests, refine the designs, and use the prototypes for promotional purposes.

Capital Required:

The Creativity Endowment would fund the Annual BUV Design Competition, annual marketing research projects at top MBA schools, web-site development for technology sharing, and incentives for the private sector.  The capital required to make this self-funding would be approximately $2,800,000.  Assuming a conservative 6% rate of return on capital, the fund could finance creativity for several decades.

Future Development:

After a BUV design is finalized, it will be published and made available to all.  The published BUV design will continue to be refined through feedback and the annual competitions.  Gradually, the competition will focus on other aspects of affordable transportation, such as electric BUVs and mountain applications.  The competition will further enhance the utility of the BUVs by focusing design work on auxiliary power units (APUs).  APUs include generators, water pumps, compressors, cement mixer, and any powered device related to community development.

Example -  Design Competition

The Creativity Endowment could fund 20 engineering teams $3000 each at the beginning of the semester. It would also cover $20,000 for the annual event expenses.  The advising professor for each team sends a request form with the students' names to the endowment.  Once approved, the endowment wires money to the university for $3000.  The students can then purchase the materials through the appropriate account and build the vehicle.

Accountability:

If a student team does not deliver a driveable BUV to IAT, then the university commits to return the $3000 to IAT and the students loose their $100 entrance deposit.