UCC plan will save taxpayers millions
The university also plans to establish an innovative business school, as well as a student hub to enhance the ability of graduates to gain employment in their chosen field.
Under an ambitious strategic plan unveiled yesterday, the university revealed that it intends to build commercial income to half of total funding and to increase annual research income to €90m a year.
Increasing foreign direct investment and job creation, as well as a surge in international students, lie among the regional, national, and international benefits outlined in UCC’s strategic plan, Sustaining Excellence 2013-2017.
Launching the plan, university president Michael Murphy said his vision was for UCC “to be a world- class university connecting our region to the globe”.
He said the college would double the annual number of potential business start-ups from UCC research to a total of 20 companies and 150 jobs by 2017.
Increasing non-exchequer income to 50% of total income, and increasing annual research income to €90m are also among the targets.
“When our students leave our gates for the last time, they are work-ready and world-ready, joining our alumni across the globe and shaping the world around us,” said Dr Murphy.
Acknowledging the strategic importance of international education, the plan commits UCC to ensuring foreign students make up over 17% of the student population during the next five years.
Sustaining Excellence also seeks to meet the needs of the Knowledge Society by increasing the percentage of students studying at postgraduate level from 22% to 30%.
The plan involves more strategic alliances with international universities, as well as domestic third-level institutions. This will include deepening partnerships with CIT and other education partners to promote more opportunities for students to transfer between institutions and minimise overlaps between programmes, in pursuit of better value for the taxpayer.
It also envisages offering more distance learning courses, as well as strengthening research and job creation by enhancing technology transfer and commercialisation.
According to the plan, UCC’s participation in the Irish Maritime and Energy Resource Cluster, together with CIT and the navy, will deliver innovation and jobs in the maritime and energy sectors.
UCC will continue to play a leadership role in the development of the Cork Science and Innovation Park in co-operation with Cork County Council, Cork City Council, CIT, the IDA, and Enterprise Ireland.
The college also plans to build a state-of-the-art student hub to support learning and employability skills development and provide more opportunities for student work placements.
“In this document, we set out our strategic agenda for the next five years, clearly demonstrating our confidence and ambition as a strong European university,” said Dr Murphy. “We are mindful of current straitened economic times. That has only strengthened our resolve to ensure that when circumstances improve we will emerge stronger and better able to compete in a dynamic international marketplace.”
- UCC ranked in the top 2% of universities (QS World Rankings 2012).
- Ireland’s first five-star university (QS Stars 2011).
- Annual research investment was €79m in 2012 while research funding from EU sources rose by over 200% in the two years to 2012.
- Building projects completed include the €100m Western Gateway building, the €50m extension of the Tyndall National Institute, and a €15m extension to sports facilities at the Mardyke.
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