TUT’s capital campaign brings in close to EUR 40 million in private donations

Tampere University of Technology became Finland’s second foundation university when the new Universities Act came into force in the beginning of 2010. The foundation model ensures that the University has more autonomy to decide on the development of its activities than a university under public law. The University will continue to receive the majority of its funding from the state budget and in the form of competitive research funding. Return on the TUT Foundation’s capital will be used to make further investments in new research openings and the development of research and education.

The reform of the Universities Act introduced new forms of fundraising to Finnish universities. The Finnish state was committed to supporting the capital campaigns of Finnish universities by matching private donations on a 5:2 basis. For the TUT Foundation, the deadline for receiving this subsidy ended on 30 June.

The TUT Foundation was established in February 2009 with a basic capital of 70 million euros. Private founders contributed 20 million euros to the capital and the Finnish state donated 50 million euros. The objective of the Foundation's capital campaign was to raise 50 million euros from private financiers. Together with the state’s pledge to match private donations on a 5:2 basis until the end of June 2012, the total sum would have amounted to 175 million euros. The Foundation succeeded in raising around 39.2 million euros from private financiers by the end of the June deadline. This sum and the state’s share amount to approximately 137.2 million euros, which will be added to the capital base of the TUT Foundation.

“The original objective was realistic at the time it was set and the campaign got off to a strong start. However, the rapidly spreading financial crisis changed the situation. As the crisis has continued, companies, organizations and foundations have been hard put to donate funds, even though they have felt strongly about supporting universities”, states President Markku Kivikoski.

“We’re very pleased with the result of the campaign that was launched amidst the financial crisis sweeping Europe. It produced close to 140 million euros, a sum that will provide a solid foundation for the continuous development of the University’s activities. I want to take this opportunity to express my sincere gratitude to all the companies, organizations, foundations and individuals who took part in the campaign,” says Kivikoski.

Tampere University of Technology (TUT) conducts research in the fields of technology and architecture and provides higher education based on this research. The University is a sought-after cooperation partner among the scientific community and business life and an attractive environment for research and study. TUT’s operations are founded on a combination of strong research of the natural sciences and technology and research related to industry and business. Many research fields play a major role in addressing global challenges, such as climate change and demographic ageing. The most extensive and established of the international leading-edge fields of research at TUT are signal processing, nanophotonics and intelligent machines. Competent Masters of Science of Technology and Architecture as well as Doctors of Technology and Philosophy graduate from TUT to work in key braches of industry, especially in the technology industries and in the field of built environment.