Embedding income diversification in the institutional strategy Enora Bennetot Pruvot Programme Manager Governance, Autonomy & Funding “Governance and Diversification of Funding in Higher Education” University of Cyprus 09.03.2011

Key questions Which are the internal obstacles to overcome? What do universities do about income diversification? Suggested step-by-step approach to integrate income diversification in the overall strategy of the university

New skills and support mechanisms Research support, fundraising, communication Professional management and “stewardship” of partnerships => Rethinking the distribution of tasks and integrating new staff profiles in the university is necessary. Academics cannot be expected to efficiently take on such tasks without proper support. Cultural resistance Rapidly changing environment: difficulty to adapt and keep up Difficulty to bring the academic community on board linked to the lack of support Sometimes conservative management

Priorities

Integrating income diversification in the university’s strategy Identify the strengths & specificities of the university to develop a branding strategy – strategic approach Analyse perspectives for income generation of your activities

Activities Teaching Research Enterprise activities Fee-paying student population (when applies) Differentiated fees (int’l students, LLL, distance-learning) Teaching National/European funding programmes Contractual research for private partners Research Consultancy services - Teaching/training for companies Spin-off companies Enterprise activities Renting of facilities, science/technology park Catering, conferencing services, merchandising Commercial activities Alumni Philanthropy Fundraising Treasury management (strategic investments) Financial management

Integrating income diversification in the university’s strategy Invest in people, leadership and management Professional HR & staff recruitment Investment in new positions at all levels Define leadership roles Communicate Internal communication External communication Invest in people, leadership and management Professional HR & staff recruitment – bringing experts in, including from outside higher education Investment in new positions at all levels (from research administrative support to fundraising director and vice- rector for enterprise) Define leadership roles, both academic and professional Communicate Internal (creating the case for change and raising awareness) External (projecting the brand)

Integrating income diversification in the university’s strategy Change structures and organisation Creation of specific units Reorganisation of governance structure Clear lines of delegated authority to support the need for rapid and responsive decision-making Rationalisation of layers of management / committee cycles Investment in information monitoring and reporting tools Provide internal incentives Individual rewards and incentives Faculty/departmental rewards Seed money Support to academics Change structures and organisation Creation of specific units (Advancement/fundraising offices) = FIGURE Reorganisation of governance structure or specific competences for groups within governing bodies Investment in information tools to guide the process Good data and reporting/monitoring systems Provide internal incentives Individual rewards and incentives – eg. promotions, remuneration Faculty/departmental rewards –eg. commercialisation revenue apportionment Seed money for new initiatives Making things easy for academics through better support

1/3 of surveyed universities: no dedicated fundraising structure 1/3 of surveyed universities: no dedicated fundraising structure! Almost 40% with “embryonic” structure.

Some aspects to keep in mind Additional funding cannot replace sufficient public funding To foster diversification, upfront investments are necessary All actors need to work together!