Mumbai University to make friends for raising money

In a bid to jack up its funds and speed up the growth, University of Mumbai has planned to set up a campaign called ‘Friends of the University Campaign’.

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Mumbai University (MU) officials will soon convene meetings with the distinguished philanthropists and the corporations seeking funds for the varsity. They will also be intent on seeking help from people outside the country.

Dr. Sanjay V. Deshmukh, Vice Chancellor of the University of Mumbai, on Tuesday during his discourse in an idea exchange said, “We plan to meet eminent personalities of Mumbai as well as corporate houses and request them to partner with the university.”

The varsity asserted that if the Friends of University Campaign proves to be a success, during the next four years varsity will raise 1000 crores out of it.

In order to make the most out of this initiative, the varsity has framed up a five-year roadmap to boost up the growth, introduce innovation and encourage research among teachers and students, improve the academic and infrastructural standards. Initially, the varsity has set its sight on target of raising Rs. 160 crore by July next year. The varsity has proposed to build hostel facility of high quality and standards to hold the strength of 10000 students, establishing a University Museum, a multi-functional student activity centre and to renovate the old buildings. The varsity aims to make 50 colleges under its jurisdiction centres of academic excellence and making them at par with the world-class levels.

MU will embark the initiative with the Observer Research Foundation (ORF), Mumbai, one of premier think-tanks in the country.

Earlier this year in July, Vice Chancellor Dr. Deshmukh had shared the idea of Friends of the University (FoU) while speaking on the occasion of 160th foundation day of the varsity. Deshmukh talked about Indian Institute of Technology Bombay (IIT-B) and Institute of Chemical Technology (ICT), two other institutes in the city, which are known to receive substantial donations from its alumni. However, he stated that everyone who feels for the university, regardless if they are alumnus, will be part of FoU.

“The FoU will bring together alumni and academicians as well as provide a platform for the corporates to identify avenues for mutual benefit. We are expecting the FoU network to help raise around Rs 1,000 crore over a period of time, which will be invested in setting up labs and improve the functioning of the university,” said Dr Deshmukh.

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