The TUT Foundation ends year 2011 with strong results

TUT started operating in the form of a foundation after the new Universities Ace came into force in Finland in the beginning of 2010. The independent foundation model and the return on the Foundation’s capital offer a solid basis for developing the University’s activities and ensure a competitive edge in the competition for talented students, researchers and teachers. In addition, the foundation model enables the University to continue fostering its close ties with industry, business and society as a whole.

“Structural development and investments in the development of leadership skills and financial competence throughout the organization have clearly supported the implementation of the university reform at TUT”, says President Markku Kivikoski.

Financially, the TUT Foundation ended year 2011 on a positive note. The profit for the financial year stood at some 10 million euros. Both the equity ratio and liquidity have remained high. The Foundation continues to receive more than 50 percent of its funding from the state based on the funding model of the Ministry of Education and Culture. Project-based appropriations are primarily financed by the Finnish Funding Agency for Technology and Innovation Tekes and the Academy of Finland. In spite of the global financial crisis, the University saw an increase in the amount of income generated through business activities. Expenses increased moderately.

The capital campaign of the TUT Foundation continued. The Finnish state is committed to matching private donations made to the Foundation by the end of June 2012 on a 5:2 basis. The present value of the capital topped approximately 98 million euros at the end of 2011. Return on the capital will be used to develop the University’s activities as decided by the Board of the TUT Foundation. Returns were allocated for the first time in December, when the Board granted a total of 500,000 euros to six promising young researchers for developing their research activities and research group.

Research meets international standards

Income from project-based grants and business activities increased, which serves as a sign of the high quality of TUT’s research activities. In 2011, the University underwent an international Research Assessment Exercise, whereby the quality of the University’s research was assessed by international expert panels against international standards in each field.

“Confirming our expectations, impact on society was identified as the key strength of our research activities. Scientific quality was estimated to be equal or higher than the world average in all the faculties. The expert panels especially praised the energetic atmosphere across the departments and research groups and the level of competence among young researchers. The career paths available to academic staff and internationalization were identified as the main challenges,” says President Markku Kivikoski.

Based on the results of the Research Assessment Exercise, the University has already started to fine-tune its organizational structure in an attempt to place all research groups in their natural operating environments and achieve greater synergy. The new organizational structure will become effective in the beginning of 2013.

The number of degrees conferred by the University has seemingly levelled off in 2011 in comparison to the previous year, because the approaching end of the transition period of the two-cycle degree system prompted a record number of students to wrap up their studies in 2010. TUT’s graduates continue to enjoy excellent employment rates despite global financial uncertainty.

The University launched an extensive reform in 2011 to restructure degree programmes and define broad subject areas that students choose from when applying for admission. The purpose of the reform is to increase the alternatives available to students, promote student mobility and their academic progress and reduce the average time-to-degree.

The TUT Foundation that operates as Tampere University of Technology (TUT) is the only university in Finland that is solely focused on technology. TUT is a sought-after cooperation partner among the scientific community and business life and provides an attractive environment for students of technology and architecture. The University’s graduates enjoy a strong reputation among employers. The total student population stands at around 10,500. Around 8,900 students are pursuing an undergraduate degree and 1,600 a postgraduate degree at TUT.

Further information:
President Markku Kivikoski, tel. +358 40 849 0094, markku.kivikoski@tut.fi