Developing Science Globally
Developing Science Globally

Financial Independence

It is a long battle for universities to increase budget and attract more endowments. On the other hand, owing to the economical factors, tuition fees are regularly increasing. As a result, all universities are always under financial pressure and instability due to critical dependence on external funds. This financial model of academia comes from traditional university, which was run by church, but a small percentage of universities run with the same condition now. However, the fiscal model has not been changed to embrace new world and possibilities.

The ultimate solution is to utilize the intellectual property and capital from within the academia to make it independent of external endowments. Conducting smart entrepreneurship not only can make a university financially independent, but also can satisfy the needs of every year alumni and students. In our modern time, more successful universities are those recognizing that higher education is far beyond classroom and this strategy can attract more students in this highly competitive market.
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