Not that kind of chair
An endowed chair is a long-term relationship between a company, association or private individual and a university, based on financial support. The funder chooses a certain domain to be investigated, and the academic researchers are privileged with the freedom to explore risky avenues where results aren’t guaranteed. “This freedom means that funders not only give out financial resources, but have great confidence in the research project. It is a contract of trust,” says Gert-Jan Bakx, coordinator of endowed chairs at the KU Leuven Fundraising and Alumni Relations Office.
Depending on the university and contract, a certain amount is endowed to a researcher for a research or educational project each year for a duration of typically three or four years. At KU Leuven, for example, this amounts to at least 70 000 euros per year. Most often the chair continues after the first three years, demonstrating a sustainable partnership.
Supporting young, wild, and free researchers
Besides the aspect of longevity, endowed chairs offer some unique benefits for researchers compared to other types of funding. The most eminent one is freedom. Compared to most grants, endowed chairs don’t require a clear outline and goal to begin with. “This opens the opportunity to bet on ‘blue skies’ research. This is curiosity-driven and fundamental science without a clear goal in mind which can lead to unforeseen and innovative results,” explains Bakx. Endowed chairs allow researchers to explore more risky avenues, which might not receive funding otherwise.
Endowed chairs are also a means to invest in young talent. These chairs are typically used to recruit a full-time PhD student, with the minimum funding and duration tailored to achieve this purpose. Furthermore, they bring the industry closer to the auditorium. Companies represent a ‘living lab’ for universities, providing students with insights into industry and internship opportunities, better preparing them for the future.
Placing companies at the forefront of innovation
On the industry side of things, endowed chairs offer a chance for industry to invest in ‘passion projects’ that align with personal or company interests, but which might be deemed too challenging or risky to address with in-house resources. It is also a way to communicate this engagement to the public, showcasing their involvement in building a better future. For example, the inauguration process of the chair is captured with a photograph and an official certificate which gets communicated via the university and press channels to make the partnership officially known.
During the whole course of the partnership, companies are on the forefront of innovation within the field they’re supporting and regularly receive progress updates.
Working towards a healthier society
Innovation loves collaboration, and that is exactly what endowed chairs are striving for. Because society, industry, and academia all benefit from it, the innovative efforts can be focused on creating a better world. “With the 86 very different endowed chairs at KU Leuven, we make an incredible impact on society,” agrees Bakx.
A better world is where research aligns with the world’s needs. Because KU Leuven works closely with its university hospital, chair holders of biomedical research chairs can be both medical doctors and professors, resulting in them having a good knowledge of the patient’s need. “In that way, endowed chairs are often a bridge between fundamental research and clinical research,” explains Bakx.
Each endowed chair in biomedical sciences is focused on creating a better future for patients and society. There is no guarantee of success. However, striving for a better world is in itself a noble cause.
