1. 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

2. 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

3. 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

5. Priorities

6. 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

7. 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

8. 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)

9. 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

10. 1/3 of surveyed universities: no dedicated fundraising structure
1/3 of surveyed universities: no dedicated fundraising structure! Almost 40% with “embryonic” structure.

11. 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!