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Applications Close For New Funding Option

MEDIA STATEMENT 24 November 2003

Applications Close For New Funding Option

Eleven applications have been received from eight tertiary education providers for a new government funding initiative.

Partnerships for Excellence is a new funding option from the Tertiary Education Commission Te Amorangi Matauranga Matua (TEC). It enables tertiary education institutions to seek matching funding from government for large-scale investment projects if it is matched by private sector investment.

Announced in September 2003, public tertiary institutions were invited to put forward proposals for projects valued over $10 million. The cut off-for this year’s round of applications was Friday, 21 November.

“I am pleased to see that there is interest in developing partnerships within the tertiary education sector,” says Tertiary Education Commission Deputy Chair and Partnerships for Excellence applications panel chair, Kaye Turner.

“It is to all New Zealanders’ advantage that there are closer working relationships between tertiary education providers and their stakeholders, such as local government, business and other private organisations. TEC is encouraging greater partnerships, capability and excellence in the tertiary education sector.”

The proposals will be assessed by the TEC and decisions will be announced during the second quarter of 2004.

The University of Otago today received notice that the government will invest
$25 million in its ‘Leading Thinkers’ advancement programme, also subject to matching contributions from other donors. The first institution to receive approval for Partnerships for Excellence investment was the University of Auckland, The government committed $25 million towards the development of a new business school, subject to matching contributions being obtained from other donors.

ENDS

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