Govt Supports Auckland University Business School
Government to Support University of Auckland Business School
The University of Auckland’s planned School of Business is to get the first capital grant under the Government’s new ‘Partnerships for Excellence’ policy framework, Education and Associate Finance Minster Trevor Mallard announced today.
The Government has agreed to a capital contribution of $25 million towards development of the school, which must be matched by private sector contributions of another $25 million.
“The venture offers a unique opportunity for New Zealand to develop a world-leading business education programme in true partnership with the regional and national enterprises that will benefit from the teaching and research programmes delivered by the new school,” Trevor Mallard said.
“Last week’s growth and innovation forum at Parliament stressed the need for constructive partnerships between the public and private sectors in order to drive and achieve sustainable economic growth in New Zealand. This initiative will play an important part in that process.”
The University of Auckland is aiming to establish a world-class Business School that will target very able students, with additional senior staff recruited who have international standing in research.
The venture will include the establishment of a Graduate School of Business, the expansion of teaching activities, the building of a purpose-built facility, building of research activities around a set of research centres and clusters. A variety of new teaching and research programmes will be delivered, including initiatives in Maori and Pacific business development, entrepreneurship and small to medium enterprise business innovation. In developing the new school, the University is collaborating closely with local and international businesses, and with other national and international providers of business education. Trevor Mallard said he expected the Government would receive additional bids under the Partnerships for Excellence framework in due course.
QUESTIONS AND ANSWERS
What is the “Partnerships for Excellence” policy?
Under the new “Partnerships for Excellence” framework, government can provide capital injections of $5 million or more to tertiary providers to fund strategic developments provided that this funding is matched or bettered by funding from private sectors partners.
The intention is to promote the public-private co-investment in tertiary education ventures suggested in the Government’s Tertiary Education Strategy 2002-7.
How was the business case approved?
The Government sought input from the Ministry of Education and the transition Tertiary Education Commission. This was to ensure the proposal supported the overall strategy for the tertiary education system, and contributed to increasing New Zealand’s tertiary education capability at world-class level, enhancing innovation, and supporting national economic and social goals, including regional development.
The Tertiary Education Commission will monitor and report on the School’s progress towards these goals.
Will the university get the entire government grant at once?
The equity payment agreement allows for Crown funding in incremental $5 million tranches, on receipt of confirmation from the University of Auckland of matching funding from private donors.
When will other institutions be able to apply for similar grants?
Institutions’ applications will be considered on a case-by-case basis, and applications could be made now.