Technology Modernization Fund Board Picks First Projects to Advance

The Technology Modernization Fund Board has picked four projects to move to the second phase of its $100 million investment experiment.

The board, tasked with managing the technology modernization fund created as part of the Modernizing Government Technology Act, received nine proposals from agencies hoping to get funding to upgrade critical legacy IT systems.

Federal CIO Suzette Kent, the board’s chair, said Sunday those nine proposals have been whittled down to four.

“This time next week, the first four proposals that are moving to the second phase will actually have letters in their hands inviting them to start that process,” Kent said during the Sunday broadcast of "Government Matters." She declined to name the four agencies or their projects ahead of the official announcements.

OMB officials did not have more information to share immediately but said more would be coming shortly.

Kent stressed the importance of ensuring the fund’s sustainability. According to the board’s founding principles, projects will be chosen, in part, based on the return on investment and ability to repay the fund in a meaningful timeframe. The board also assessed the impact of the projects and whether the methods and lessons learned might translate to other areas of government.

“Every idea we received is a great idea,” Kent said. “Everything that the board looked at is something that needs to be done.”

Editor's Note: The headline and story have been updated to clarify that the four projects have moved to the second phase.