The Council of Riga Technical University (RTU) has approved the RTU budget for 2024, which is designed to help the university achieve its strategic goals and develop its activities in priority areas.
Quality studies, outstanding science, sustainable innovation and institutional excellence are the four main goals RTU has defined in its 2023-2027 strategy, and priority areas - STEM (science, technology, engineering, and mathematics) education, project attraction, and science and innovation - have also been identified to achieve these goals. Accordingly, RTU is committed to investing in these areas to strengthen them, as they are crucial for the University to achieve both its strategic goals and the RTU Council's target of becoming one of the world's top 500 universities.
RTU's total budget for the new year will be €103 million, surpassing the €100 million threshold for the first time. Next year, in line with a government decision, RTU will implement a pilot project on institutional funding, which will give the university more freedom in how it uses its budget, while focusing on achieving specific results, such as reducing student drop-outs and reaching a certain number of graduates.
Strengthening strategic areas and directions, the budget for sports and cultural activities has been adjusted, with an emphasis on student sports and more funding for the most popular sports for students - basketball, football and volleyball, as well as for gym and pool sports. However, changing priorities have meant that support for sports teams has had to be dropped, but RTU will continue to support young sports talents in developing dual careers by providing special budget places so that athletes can both study and achieve high results in sport.
