BLOOMINGTON, Ind. (Inside INdiana Business) – Indiana University says it has achieved an annual total of more than $1 billion in external research awards and private philanthropy for the first time in its history. The university says its combined research and philanthropy funding for fiscal year 2020 totaled $1.15 billion, including a university-record $854 million in external funding for research and other activities.
The university says it’s the highest total of external grant funding obtained by any research university in the state during the last fiscal year. The funding represents a 25% increase over last year’s total of more than $680 million.
“This remarkable figure once again underscores the fact that Indiana University truly is the state’s research powerhouse,” IU President Michael McRobbie said. “It demonstrates the quality of the outstanding research being conducted by our faculty, staff and students — research that expands knowledge, drives innovation, creates new industries and jobs, spurs economic growth, and supports a high standard of living. It also reflects the longstanding generosity of tens of thousands of Indiana University’s alumni and friends, based on the university’s historic reputation for excellence in its first two centuries. Collectively, this funding directly and indirectly helps to support thousands of jobs in the state of Indiana.”
IU says the combined total also included nearly $300 million in private individual and institutional philanthropy, the second-highest annual total in the school’s history.