Amount generated by CityU hits record high in the Third Matching Grant Scheme
Under the Third Matching Grant Scheme, which was held between June 2006 and 15 March of this year, CityU has generated $120m in funds, which, together with the $82m matching grant from the Government, total more than $200m. This represents an increase of 60% compared to the amount raised under the Second Matching Grant Scheme. This is a new record.
Eighty percent of the donations came from different sectors in the community, including a number of contributions worth more than $10m. Up to $24m (20%) came from members of the University Council, academic and administrative colleagues, alumni and students, all of whom have played a major role in raising the record-breaking funds.
About half of the $120m raised will be used to subsidize CityU's research and academic activities, according to the donors' wishes. The rest will be used to support student and University development.
The successful fund-raising campaign was not only supported by donors in the community, but also by the University community. Close to 1,000 members of the University Council, academic and administrative colleagues, alumni and students participated in the campaign, demonstrating the cohesiveness of the University community.
In addition, Professor H K Chang, University President, spearheaded the fund-raising campaign during all three rounds of the Matching Grant Scheme, fostering stronger ties with different sectors in the community and promoting all departmental involvement.
The significant increase in the amount raised represents the community's growing recognition of CityU's commitment to quality professional education and applied research.