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The Board of the KU Future Support Fund Initiated Setting up of an Endowment Fund

At the last meeting of the Board of the KU Future Support Fund this year, important decisions were made, paving the way towards the main goal: setting up an endowment fund.

An extraordinary meeting of the shareholders of the KU Future Support Fund is to take place on January 20 next year, and it will mark the beginning of the building of an endowment fund. The areas and procedures for allocating the funds to the university were approved today. The KU Future Support Fund intends to be an active participant and sponsor of the university’s academic and research activities. It was clearly defined that the funds were to be used to support: projects that attract prospective students to Klaipėda University; promotion of relevant study programs; attracting and retaining the most talented academics; support for research funding; encouraging the most gifted students; supporting student initiatives; start-up cultivation; and equipment for study and research laboratories.

The activities of the KU Future Support Fund, which started operating only this year, were recognised as active and successful. Member of the Board, Rector of KU prof. dr. Razbadauskas noted that the emergence of the fund was very important for the University in terms of reputation. Until now, only Vilnius University has had such kind of business support in Lithuania.

Vytautas Lygnugaris, Chairman of the Board of KU Future Support Fund, wished its members to maintain “good intentions and not to abandon the initiative” in the future.