Since the government made substantial cuts to universities, it has meant that institutions need to become much more self-sufficient to make themselves more attractive to international students.
To do this, many have started their own campaigns to help raise the funds needed to find the necessary amounts to help support each department.
Unsurprisingly, it’s two of Australia’s leading universities who are looking to show the way as the University of Sydney and University of Melbourne both launched major new campaigns in the last few years.
Sydney was first to launch their own initiative called Inspired which looks to see the university raise a record figure of $600m over the next couple of years.
Meanwhile, arch-rival University of Melbourne have created their own campaign called Believe which is aimed to help the institution raise $500m and replace the gap created by the budget cuts.
With the launch of the two campaigns, the two rivals are going to battle with private donors in order to try and secure as much funding as they possibly can.
Whilst the universities have gone public with their campaigns, both have been running their funding initiatives for several with both Inspired and Believe first launching in 2008.
However, it’s a close race between the two rivals with both universities having reached the halfway point in their funding targets already.
The demand was funding is more important than ever before and the universities have accepted that they need to go beyond their limits if they are to continue moving forward in the future. This was underlined by comments made by University of Melbourne vice chancellor Prof Glyn Davis who told The Australian “This campaign will help us go beyond what a university can achieve with current funding levels”
By looking to reach new limits, the staff at both universities that they will be able to attract the attention of donor and reach their goals within the next year or two.
No matter what though, it’s important for institutions such as Sydney and Melbourne to show what is achievable through funding campaigns and show that all is not lost for the Australian higher education system.