The IEEE new initiative process employs two funding tools allowing for proposals to be submitted at any time during the year.
All IEEE new initiatives that are submitted undergo a review by the IEEE New Initiatives Committee (NIC).
New Initiative proposals will be recommended by NIC to the IEEE Board of Directors for project funding. If the Board approves, project funding will be immediately available. Project reports will be made at least quarterly to the NIC, who will report to the IEEE Board of Directors and IEEE Finance Committee on status.