There are two options for adding Initiative records. Click the down arrow to the right of the icon to open the Add Record submenu and select either:
"New" - This option creates a new, empty, Initiative record.
or
"Add From Template" - this option opens the Select Template Project dialog. Click one of the projects to act as a template and then click the OK button. The dialog closes and a new Initiative record appears, with information from the template project copied into it.