In August 2019, the Revenue Innovations Study Group (RISG), appointed by Former Chancellor Blank and Former Vice Chancellor for Finance & Administration Laurent Heller, provided recommendations for innovating revenue growth in support of the University’s academic and research mission.
The goal is to generate a long-term endowment, develop other non-monetary assets, and cultivate immediate and recurring income streams. The ideas focused around what could be accomplished at the institutional level, that would support other university initiatives and complement City of Madison development agendas.
RISG recommended pursuing strategies in real estate, auxiliary and asset optimization, and corporate and industry engagement.
At UW-Madison, innovation is part of our DNA
We have a long history of economic innovation that includes our status as a land grant institution, the creation of the Wisconsin Alumni Research Foundation – bringing campus-based research into the public sector, and the development of University Research Park to support economic and technological developments. This however has not been enough.
Over the last 10-15 years, UW-Madison’s revenue growth has not kept up with peer institutions, many of which compete with us for students and federal research funding. While several strategic initiatives have helped close this gap, we have not been able to catch up fast enough.
Now is the time for UW-Madison to pursue new innovative revenue strategies that will drive the next era of growth, development, and discovery.
UW-Madison is pursuing a real estate strategy to generate new revenue streams through campus (re)development processes. The Madison market and UW-Madison land holdings offer substantial long-term opportunities.
Auxiliary & Asset Optimization
UW-Madison is investigating a multi-phase strategy that focuses on creating long-term value for campus and improves overall operations while addressing sustainability goals.
UW-Madison is developing a campus-wide corporate engagement strategy. Growing industry-sponsored research, talent recruitment, professional development, and other shared goals will amplify the campus’s role as a critical economic engine for the state of Wisconsin.
- Generate new revenue streams to support the university’s mission.
- Recognize the university’s history, as a public land-grant institution, of placing value on the medium- to long term versus the short-term.
- Support the university to enhance diversity, equity, inclusion, healthy communities, as well as our obligations to sovereign Native Nations in the state now known as Wisconsin.
- Support and build positive relations and ties with the community, the nonprofit sector, the business sector, and the public sector in the city-region, the state, the country, and the rest of the world.
Share Your Ideas
Do you have an idea about how our university can generate revenue to support our core mission? Do you have thoughts on the Revenue Innovations Study Group’s report or our next steps for this initiative? Please share your perspective at firstname.lastname@example.org.