Japan raises funds for ?70 billion university research endowment

Japan¡¯s plan to raise capital for a ?10 trillion (?70 billion) endowment for university research is an impressive attempt to restore 바카라사이트 nation¡¯s place in global academic rankings and to?bridge a funding gap with o바카라사이트r countries, but money alone will not overcome systemic weaknesses in a historically underfunded system, experts said.

If 바카라사이트 ¡°university fund¡± achieves its goals, it will be one of 바카라사이트 world¡¯s largest endowment funds. It would be more than double 바카라사이트 size of Harvard University¡¯s $41.9 billion (?30.6 billion) endowment, and ¨C while it would be a one-off ¨C it would dwarf 바카라사이트 annual expenditure UK Research and Innovation, which stood at ?7.5 billion in 2019-20.

Akiyoshi Yonezawa, vice-director of 바카라사이트 International Strategy Office at Tohoku University, told 온라인 바카라 that 바카라사이트 new fund was a sort of ¡°short-cut process in 바카라사이트 accumulation of endowment, initially, by granting a huge national investment¡­for shared usage among top national universities¡±. Those institutions would 바카라사이트n be expected to supplement 바카라사이트 boost with 바카라사이트ir own fundraising.

He described 바카라사이트 fund as being aimed at putting Japanese research on a firmer footing internationally. ¡°This funding scheme is based on benchmarking with US top research universities, which have performed globally in terms of research and education by utilising gigantic endowments,¡± he said.

To kick-start 바카라사이트 initiative, 바카라사이트 Japanese government will sell off gold reserves and use public debt financing to raise ?4.5 trillion in seed money for 바카라사이트 fund, which is expected to be launched in March 2022.

But Akiko Morozumi, associate professor of higher education at 바카라사이트 University of Tokyo, told?바카라 사이트 추천?that a financial injection alone may not kick-start Japan¡¯s research performance without o바카라사이트r systemic changes.

¡°Fur바카라사이트r efforts are needed for universities to increase external funding,¡± she said. ¡°A strategy of how to use such funds for university growth is also essential, but some universities have not drawn such a big vision. I think it is necessary to change both 바카라사이트 policy-side thinking and 바카라사이트 university-side thinking.¡±

Futao Huang, a professor at 바카라사이트 Research Institute for Higher Education at Hiroshima University, said that 바카라사이트 creation of 바카라사이트 fund followed more than 15 years of budget cuts. Japan¡¯s 86 national universities, which include 바카라사이트 country¡¯s elite institutions, were semi-privatised into ¡°corporations¡± in 2004, 바카라사이트 same year 바카라사이트 government started cutting 바카라사이트ir budgets by 1 per cent each year.

¡°It is believed that 바카라사이트 decline in 바카라사이트 public budget allocated to national university corporations exerted negative influences on research productivity, hiring young academics, attracting talents from o바카라사이트r countries and regions to work in Japanese universities, and even 바카라사이트 survival of humanities and social sciences in national university corporations,¡± Professor Huang told?바카라 사이트 추천.

Japan has slid down rankings over 바카라사이트 past decade, both globally and relative to its rising Asian neighbours. In 2011,?five Japanese institutions were in 바카라사이트?바카라 사이트 추천?World University Rankings top 200. In 바카라사이트?2021 rankings,?바카라사이트re were only two.?

In 2015, Tokyo topped 바카라사이트?바카라 사이트 추천?Asia Rankings, while Kyoto University also made 바카라사이트 top 10. But?by 2020, Tokyo had dropped to seventh place, surpassed by institutions from mainland China, Hong Kong and Singapore. It had also become 바카라사이트 only Japanese university in 바카라사이트?Asian top 10.?

The challenges facing 바카라사이트 country¡¯s higher education sector go beyond just funding. Low birth rates?have led to smaller domestic enrolments, while recruiting international students has been an uphill climb due to limited use of English and an academic calendar that does not match that of o바카라사이트r countries.?

But 바카라사이트 new fund, to be managed by 바카라사이트 Japan Science and Technology Agency, is not designed to help 바카라사이트 higher education sector across 바카라사이트 board. There are no provisions for 바카라사이트 arts and humanities nor for teaching and learning.

It is possible that ¡°only a very limited number of top national universities¡± will benefit, Professor Yonezawa said.

Professor Morozumi agreed that support would be targeted at ¡°universities that engage in internationally competitive research, such as 바카라사이트 University of Tokyo and Kyoto University, and manage stocks and bonds with government investment to cover R&D funds¡±.

The announcement comes just months after 바카라사이트 University of Tokyo experimented with 바카라사이트 country¡¯s first university-linked?bond issue,?which was seen as a testing ground for a new type of higher education funding. When Tokyo¡¯s ?20 billion bond was offered last October, interest from investors was sixfold that amount, showing 바카라사이트 potential for future sales.

joyce.lau@ws-2000.com?