University financing – CEC UGC http://cec-ugc.org/ Wed, 28 Sep 2022 18:36:11 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://cec-ugc.org/wp-content/uploads/2021/05/default-150x150.png University financing – CEC UGC http://cec-ugc.org/ 32 32 Vision Benefits Company XP Health Raises $17.1M+ in Digital Health Funding https://cec-ugc.org/vision-benefits-company-xp-health-raises-17-1m-in-digital-health-funding/ Wed, 28 Sep 2022 17:33:51 +0000 https://cec-ugc.org/vision-benefits-company-xp-health-raises-17-1m-in-digital-health-funding/ XP Health, a company developing a digital vision benefits platform, raised $17.1 million in a Series A funding round led by HC9 Ventures, Valor Capital Group and ManchesterStory. Other investors include Core Innovation Capital, GSR Ventures, Canvas Ventures, Plug and Play, CameronVC, Ken Goulet, Kevin Hill, Jeff Epstein and Brett Rochkind. This recent round of […]]]>

XP Health, a company developing a digital vision benefits platform, raised $17.1 million in a Series A funding round led by HC9 Ventures, Valor Capital Group and ManchesterStory.

Other investors include Core Innovation Capital, GSR Ventures, Canvas Ventures, Plug and Play, CameronVC, Ken Goulet, Kevin Hill, Jeff Epstein and Brett Rochkind. This recent round of funding follows a $5.5 million increase in 2021.

“This round of funding allows us to strengthen the functionality of the platform and deliver an exceptional customer experience in the most affordable way to employers, insurance companies and employees,” said Antonio Moraes, co-founder and CEO of XP Health, in a press release.

“We have a game-changing offering on how people access and experience employee benefits – with the ultimate goal of positively impacting hundreds of millions of lives through high-quality health benefits. quality, accessible and affordable.”


Lung health company Optellum has announced the closing of a $14 million Series A funding round led by UK venture capital firm Mercia with participation from US firms Intuitive Ventures and Black Opal.

Its Virtual Nodule Clinic software is used to track, assess and characterize nodules in the lungs. The company has reached FDA clearance in USA, CE-MDR in EU and UKCA in UK for the platform. A CE marking certificate (CE-MDR) is required to market medical devices in the EU. The UK Conformity Assessed mark indicates that a product complies with the applicable requirements for sale in Great Britain.

“[Virtual Nodule Clinic] can help doctors identify and track at-risk patients and optimally diagnose signs of lung cancer early – so treatment can be started sooner for patients with tumors and to minimize invasive procedures such as biopsies on benign lesions,” the company said in a press release.


The company behind the Cionic Neural Sleeve has received $12.5 million in a Series A funding round led by BlueRun Ventures, with participation from EPIC Ventures, LDV Capital, Caffeinated Capital, and JobsOhio Growth Capital Fund.

This funding round follows that of Cionic Neural Sleeve FDA clearance in early 2022. Leg-worn device provides electrical stimulation so people with foot drop and muscle weakness can walk more easily. Cionic has so far received $23 million to build its human mobility-focused platform.

The new fundraising will help the company expand manufacturing and delivery of its mobility technology, and accelerate research trials and commercialization of its products for new indications.

“Forward-looking investors realize we must act today, and we are proud to be supported by a group of investors who recognize the need for better solutions and have joined us in our mission to redefine human mobility. “, Cionic said founder and CEO Jeremiah Robison in a statement.


Kaleidoscope, a cloud-based research platform that maps data usage by R&D teams, has consolidated a $6 million seed funding round.

It was co-led by Hummingbird Ventures and Dimension, with participation from SV Angel, Hawktail, Caffeinated Capital and individual investors.

The funding will help the company further develop the platform product and expand the company’s team, particularly with software engineers.

“The way people work in research is changing. Kaleidoscope bridges the gap between teams on a platform that integrates with other software tools. The funding will allow us to provide the best product and user experience to make research more collaborative, replicable and scalable. Bogdan Knezevic, CEO and co-founder of Kaleidoscope, said in a statement.


Arcascope, a health technology company specializing in circadian rhythm disruption, announced the closing of a $2.85 million funding round.

The round was led by Supermoon Capital, with participation from New Dominion Angels, Inflect Health, Inception Health, the Accelerate Blue Fund, the Monroe Brown Seed Fund, AIoT Health, HealthX Ventures and other angel investors.

Company Launches Circadian Rhythm Management Platform, Currently Accessible Through Smartphone App, Shift, to meet the sleep needs of shift workers.


Surge, a company developing machine learning technology to decode a patient’s blood sample to predict the risk of postoperative complications, announces $2.6 million round co-led by HCVC and Boutique Venture Partners , with the participation of Nicolas Godin.

The company has also been granted the exclusive license to Stanford University’s patented postoperative complication prediction technology, which includes more than 10 years of surgical risk prediction research. Surge has also signed a research agreement with Stanford aimed at developing biotechnological innovations.

This new round of funding will help the company further grow its team and conduct clinical studies with more hospitals.

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Syracuse University part of team receiving $60 million USDA grant to promote climate-smart products https://cec-ugc.org/syracuse-university-part-of-team-receiving-60-million-usda-grant-to-promote-climate-smart-products/ Mon, 26 Sep 2022 19:03:07 +0000 https://cec-ugc.org/syracuse-university-part-of-team-receiving-60-million-usda-grant-to-promote-climate-smart-products/ Syracuse University is a lead partner in a multi-university project that aims to increase supply and demand for climate-smart products produced and manufactured in New York State, supported by a new USDA Climate-Smart Products Partnership grant. The $60 million project is led by the New York State Department of Environmental Conservation and the Department of […]]]>

Syracuse University is a lead partner in a multi-university project that aims to increase supply and demand for climate-smart products produced and manufactured in New York State, supported by a new USDA Climate-Smart Products Partnership grant. The $60 million project is led by the New York State Department of Environmental Conservation and the Department of Agriculture and Markets.

Golden Jay

A climate-smart commodity is an agricultural commodity that is produced using agricultural, livestock or forestry practices that reduce greenhouse gas emissions or sequester carbon. As a project partner, Syracuse will lead one of four main focus areas. Over the next five years, Syracuse University researchers will develop and expand existing markets and develop new markets for climate-smart products produced in New York State to benefit the environment, farmers and manufacturing sectors.

“Governments and industry around the world are rapidly committing to a net-zero carbon economy, and in order to meet these grand challenges, industries today will need to find low-carbon alternatives and green technology where bio-based feedstocks and products play a critical role,” says Jay Golden, Pontarelli Professor of Environmental Sustainability and Finance at Syracuse University’s Maxwell School and director of the Dynamic Sustainability Lab, who is the principal investigator of the project in Syracuse.

Syracuse’s interdisciplinary team, working in collaboration with Cornell University, SUNY College of Environmental Science and Forestry, New York State agencies, and other public and private partners, includes faculty and student researchers from the Maxwell School of Citizenship and Public Affairs, School of Information Studies, SI Newhouse School of Public Communications and Whitman School of Management. Additionally, the team will partner with Syracuse University Libraries’ Blackstone LaunchPad to develop a pipeline of new green technologies and climate-smart innovators, with a focus on developing new climate-smart businesses in underserved communities.

Syracuse University faculty include:

  • Principal Investigator: Jay Golden, Pontarelli Professor of Environmental Sustainability and Finance at the Maxwell School of Syracuse University and Director of the Dynamic Sustainability Lab
  • Investigators:
    • Carmen Carrión-Flores, Assistant Research Professor, Department of Economics; Senior Research Associate, Center for Policy Research
    • Peter Wilcoxen, Ajello Professor in Energy and Environmental Policy; professor of public administration and international affairs; Director, Center for Environmental Policy and Administration
    • Lee McKnight, Associate Professor, School of Information Studies
    • Todd Moss, Chair, Entrepreneurship and Emerging Business Department and
      Associate Professor of Entrepreneurship, Whitman School
    • Jason Davis, Research Professor, Newhouse School; co-director, Real Chemistry Emerging Insights Lab
    • Regina Luttrell, Associate Dean for Research and Creative Activity; co-director, Real Chemistry Emerging Insights Lab; Associate Professor of Public Relations, Newhouse School
    • Erika Schneider, Assistant Professor of Public Relations, Newhouse School

“Our team in Syracuse will be at the global forefront of this effort by providing public and private decision makers the ability to track and verify low- and zero-carbon raw materials across the value chain; develop strong incentives and policies to support market demand; and to model environmental, climate, and economic/jobs benefits for New York and America,” Golden says. “The planned climate-smart commodities will serve as a platform for a new generation of low-carbon chemicals, fuels and power sources, as well as building and construction materials and a vast range of consumer products to support the transition to a net zero carbon economy”.

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Imperial College London: Inside the university that studies | Education https://cec-ugc.org/imperial-college-london-inside-the-university-that-studies-education/ Sat, 24 Sep 2022 07:00:00 +0000 https://cec-ugc.org/imperial-college-london-inside-the-university-that-studies-education/ Deep inside Imperial’s South Kensington campus, teams of current and former students use laptops, run businesses and share ideas. There’s a company that uses sailboats to collect data to map weather patterns, another that offers low-cost AI-powered courses, one with an innovative way to weigh chickens, and another that imagines ways to empower retail investors. […]]]>

Deep inside Imperial’s South Kensington campus, teams of current and former students use laptops, run businesses and share ideas. There’s a company that uses sailboats to collect data to map weather patterns, another that offers low-cost AI-powered courses, one with an innovative way to weigh chickens, and another that imagines ways to empower retail investors.

This is the university’s corporate laboratory, the crown jewel of an institution that prides itself on combining business and science. It’s a major draw for students, with one in eight using the space to brainstorm their budding business ideas, attend entrepreneurial skills workshops, network with other students, and receive mentorship from experts and former students. He’s so successful at what he does that he has an outstanding 79% survival rate for the startups he launches.

The mix of science and business is what makes Imperial unique, says the university’s new president, Professor Hugh Brady. “Innovation and entrepreneurship are really part of the DNA, they are part of what attracts students. The atmosphere is different: impact, innovation, entrepreneurship oozes from the institution.

Science courses usually include business and finance modules regardless of subject, while business school students are drawn to the scientific strength of the university. A new multidisciplinary undergraduate course in economics, finance and data science, launched this year, is attracting considerable interest.

Imperial has some of the best-resourced entrepreneurship facilities in the country, including the largest mentorship system – based on the MIT model – and the largest prize fund for its main entrepreneurship competition, the Catalyst Challenge. of business.

Also part of this image is the Enterprise Lab and companion Hack Space, where students can access equipment, such as 3D printers, to build prototypes for their ideas.

Still, Imperial has ambitious plans to expand all of this. To achieve this, the university just received an inspired Stanford Founders Pledge from seven former founders to donate a portion of their future earnings to the college to benefit budding entrepreneurs.

Students working on a carbon capture project in the chemical engineering department. Photograph: Alicia Canter/The Guardian

According to Vice-Rector for Research and Enterprise, Professor Mary Ryan, it matters because it is what students – and the employers who recruit them after graduation – expect from a degree. imperial.

“There is a recognition that [for] our student body in particular, and [for] all students of this generation are hungry to explore entrepreneurship and ways to develop their own ideas while studying,” she says.

She adds that “not only what can we learn, but what can we do with what we learn” is a philosophy that is an integral part of the institution, with work with industry cited in its founding charter, which date of 1887, date of its creation. alongside South Kensington’s world-class museums as part of Prince Albert’s vision for an estate of culture.

This is underpinned by the university’s strength in research, which has come to the fore during the pandemic, as its multidisciplinary Covid response team has shaped how governments around the world have responded to the crisis. .

This has resulted in an increase in applications for the university, with many students citing the team in their applications, says Vice-Rector for Education and Student Experience, Professor Emma McCoy. “We have seen an increase in the number of our requests over the past decade and year on year. It will be interesting to see what happens over the next two years.

Professor Mary Ryan, Vice Provost (Research and Enterprise), pictured in Imperial's Enterprise Lab.
Professor Mary Ryan, Vice Provost (Research and Enterprise), pictured in Imperial’s Enterprise Lab. Photograph: Alicia Canter/The Guardian

This culture is reflected in a research-intensive curriculum, where students are taught by leaders in their field and are expected to generate their own knowledge. Imperial favors a multidisciplinary approach, including compulsory modules in disciplines outside of their undergraduate degree.

The university has seen a steady rise in the rankings in recent years, rising from 9th place in 2021 to enter the top five for 2023 – something it has only done twice before since the start of the Guardian rankings. Graduate prospects have long been a strength of the university – 94.5% of the most recent cohort have found their way into a higher level profession within 15 months. The university ranks first in the employability guide, thanks to its subject mix, focus on entrepreneurship, and industry placements. McCoy says producing work-ready graduates is a priority, with employers appreciating how they “can get down to work.”

The university’s rise in the rankings was partly supported by improved results from its national student survey. It is the result of a five-year campaign to improve the student experience, which has seen Imperial involve students more closely in shaping their education and learning environment, creating an inclusive university community and the strengthening of its scholarship program.

“It’s always a challenge in a research-intensive business [university] because our courses are particularly stimulating, which also attracts students,” admits McCoy.

Professor Hugh Brady, President of Imperial College London.
Professor Hugh Brady, President of Imperial College London. Photograph: Alicia Canter/The Guardian

Part of its appeal, suggests Brady, is that there is no “direct competitor” to the institution. However, he says elements of his White City campus, which combines high-tech facilities aimed at creating the products and services of the future with community outreach, remind him of Kendall Square in Boston – which adjoins MIT – or the Stanford-Berkeley axis in California.

“When I was in the United States, [in the] In the 1980s and 1990s, the Ivy League almost woke up one day and said “gosh, what happened, there’s this new kid on the block, Stanford”, who has similar characteristics to the Imperial. I think we’re at this transformation [point] where students now come to Imperial because it’s different, because they know they’ll receive a high-quality education steeped in the latest research and discovery, but with an eye for impact and innovation” , he said.

Despite its popularity, Imperial faces an existential threat: the decline in real terms in the value of tuition fees, which are now worth a third less than when they increased in 2012. Brady believes the shortfall for Imperial courses, which are expensive to run, averaging around £4,000, a hole the university is filling through ‘incredibly generous donors’, lucrative industry partnerships and the use of higher fees paid by international students to subsidize courses.

“The funding model does not cover the costs of educating UK students, and this needs to be addressed,” says Brady, adding that he and other university leaders are lobbying the government to prioritize increased state funding or increased tuition fees, or a combination of the two. . “If there is a critical decision for the country over the next two or three years, it is what this funding model is and how to build it so that it is sustainable and aligned with the needs of the Stem economy. .”

A senior medical student using new virtual reality training, simulating real-life situations like cardiac arrest in a hospital setting.
A senior medical student using new virtual reality training, simulating real-life situations like cardiac arrest in a hospital setting. Photograph: Alicia Canter/The Guardian

This challenge is compounded by the fact that as an international institution, Imperial competes with American universities, which benefit from a longstanding culture of endowments and alumni philanthropy, and with institutions emerging Asian countries, which receive much more state support.

Still, overall, Brady feels that, culturally, Imperial is currently in a strong position. “There is a much broader and deeper appreciation within society of the value of science, engineering and medicine to humanity and the planet,” he says, adding, “you have government economic policy, which absolutely has the stem, innovation, entrepreneurship and digital skills central to that, and you have a talent pool that needs more engineers.

“You can truly say that Imperial has never been more important to the country.”

Brady took the reins in August, and his first plan is to meet with as many staff and students as possible, to understand what they’re proud of and what needs to change – including an ongoing project to reassess the relationship. of Imperial with its colonial history.

“That’s my goal: what will the next 10 to 15 years look like for Imperial? How does it continue to compete with the best universities in the world? How does it establish itself as this essential catalyst for economic growth in the United Kingdom? How does it play its role in the wider global scientific community that is interested in important issues such as climate change? »

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St. Xavier’s University Celebrates Mother Agatha O’Brien’s 200th Birthday https://cec-ugc.org/st-xaviers-university-celebrates-mother-agatha-obriens-200th-birthday/ Thu, 22 Sep 2022 15:30:00 +0000 https://cec-ugc.org/st-xaviers-university-celebrates-mother-agatha-obriens-200th-birthday/ CHICAGO, September 22, 2022 /PRNewswire/ — St. Xavier’s University (SXU) Celebrates 200th Anniversary of Mother Agatha O’Brien this month of September. Although Mother Agatha, who died in 1854, lived a short life, her accomplishments were remarkable and the impact she left on the world is remarkable. Today, his rich legacy is nurtured by the determined […]]]>

CHICAGO, September 22, 2022 /PRNewswire/ — St. Xavier’s University (SXU) Celebrates 200th Anniversary of Mother Agatha O’Brien this month of September. Although Mother Agatha, who died in 1854, lived a short life, her accomplishments were remarkable and the impact she left on the world is remarkable. Today, his rich legacy is nurtured by the determined leadership of Laurie M. JoynerPh.D., President of SXU.

Saint Xavier University logo (PRNewsfoto/Saint Xavier University)

Born Margaret O’Brien on September 22, 1822at Carlow, Ireland, Mother Agatha was educated by the Sisters of the Presentation, who focused their energies on creating schools that would educate young people, a passion that Mother Agatha would pursue in her later work. In 1843, she joined the Couvent de la Miséricorde Saint-Léon as a lay sister before going to United States serve those in need at the request of the bishop Michael O’Conner. After meeting Mother Agathe, he judged her “capable of governing a nation”. She later received the religious name of Agatha as the first postulant of the Sisters of Mercy before going to Chicagowhere she became the first Superior of the Order.

Mother Agatha was courageous and resolute, even defying a new bishop who demanded the deeds of the Sisters. She eventually succeeded in gaining property rights from the Sisters of Mercy (and other religious orders of women) in the Diocese of Chicago.

Described as a woman of exceptional judgment, quick apprehension and piety, Mother Agatha helped establish St. Francis Xavier Academy (which later became a college in 1915 and a university in 1992) only 19 days after arriving at Chicago and was soon charged with being its first headmistress, or president. Another iconic foundation, Mercy Hospital, owes its creation to her remarkable leadership. In 1854, a horrible cholera epidemic spread through the city. Unfortunately, Mother Agatha succumbed to her illness at only 31 years old.

The competent stewardship of the woman who led St. Xavier from the beginning continues today in President Joyner, who is steadfast in reinforcing the historic mission of preparing students for meaningful lives and successful careers. President Joyner has led SXU since 2017, becoming the University’s 20th President. As a mission-focused, student-centered leader, she has positioned St. Xavier for a better future by accomplishing a number of extraordinary achievements over the past five years, including:

  • Enrolling four of the largest and most diverse classes in the University’s 176-year history and improving retention from first to second year three consecutive years.

  • Launch more than a dozen new academic programs, develop high-impact educational practices, and advance an equity and inclusion agenda across the University.

  • Elevate the voice of faculty, staff, and students through University-wide committees that provide strong opportunities for effective shared governance.

  • Halve institutional debt ($40 million at $20 million); increase cash ($12 million at $32M); and triple the endowment ($10M at $33 million) between FY17 and FY22.

  • Enhance SXU’s reputation through active local engagement with the Archdiocesan School Board of Chicago and as a member of the Chicago Network as well as nationally through its work with the Association of Colleges and Catholic Universities (ACCU) and the Council of Independent Colleges (CIC).

As we celebrate Mother Agatha’s 200th birthday, we are grateful for her contributions and for the leadership of President Joyner and the efforts of the SXU community to transform the lives of students who continue to change the world for the better.

St. Xavier’s University was founded in 1846 by the Sisters of Mercy and is a private four-year Catholic coeducational institution that provides a transformative educational experience for more than 3,500 undergraduate and graduate students who are ready to become compassionate leaders in their field of study and their communities. As a mission-driven and student-centered institution, St. Xavier educates for skill, character and professional achievement, with program offerings through our College of Arts and Sciences, Graham School of the management and School of Nursing and Health Sciences. Recognize St. Xavier excellence in education, US News and World Report has consistently ranked SXU among the top colleges in the Midwest.

MEDIA CONTACT: Deb Rapacz, Associate Vice President of Marketing and Communications, rapacz@sxu.edu

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Three Razorbacks advance to ITF Lubbock Pro Circuit main draw https://cec-ugc.org/three-razorbacks-advance-to-itf-lubbock-pro-circuit-main-draw/ Tue, 20 Sep 2022 21:00:51 +0000 https://cec-ugc.org/three-razorbacks-advance-to-itf-lubbock-pro-circuit-main-draw/ LUBBOCK, Texas – Arkansas’ Kelly Keller and Indianna Spink won their second-round qualifying matches today to advance to the ITF Lubbock Pro Tour main draw. Rookie Carolina Gomez-Alonso will play her first match of the tournament tomorrow. After winning their first-round qualifying matches, juniors Kelly Keller and Indianna Spink needed one more win to qualify […]]]>

LUBBOCK, Texas – Arkansas’ Kelly Keller and Indianna Spink won their second-round qualifying matches today to advance to the ITF Lubbock Pro Tour main draw. Rookie Carolina Gomez-Alonso will play her first match of the tournament tomorrow.

After winning their first-round qualifying matches, juniors Kelly Keller and Indianna Spink needed one more win to qualify for the main draw. Spink lost her first set 2-6, but came back to win the second set 7-6 and won the third set tiebreaker 10-6 over Texas Tech’s Cristina Elena Tiglea.

It was a battle for the Razorbacks in the next game with junior Kelly Keller facing rookie Yuhan Liu. Keller took the lead early in the first set 6-2, but Liu gave it a hard blow in the second with Keller coming out on top in the tiebreaker, 7-5.

The tournament continues tomorrow with Carolina Gomez-Alonso in the opener of the day, taking on Texas Tech’s Olivia Peet at 10 a.m. CT.

All results and draws are available on the tournament homepage.

For the latest information on all things Arkansas women’s tennis, follow the Hogs on social media by liking us on Facebook (Arkansas Razorback Women’s Tennis) and following us on Twitter and Instagram (@RazorbackWTEN).

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DECRA Funding Success for VC Fellows https://cec-ugc.org/decra-funding-success-for-vc-fellows/ Mon, 19 Sep 2022 05:56:17 +0000 https://cec-ugc.org/decra-funding-success-for-vc-fellows/ Western Sydney University Vice-Chancellor’s Researchers Dr Tijl Grootswagers (left) and Dr Benjamin Hanckel (right). Dr Tijl Grootswagers and Dr Benjamin Hanckel from the University of Western Sydney have each received an Early Career Research Fellowship (DECRA) from the Australian Research Council (ARC), attracting a combined total of more than $850,000 for the university. Dr. Tijl […]]]>

Western Sydney University Vice-Chancellor’s Researchers Dr Tijl Grootswagers (left) and Dr Benjamin Hanckel (right).

Dr Tijl Grootswagers and Dr Benjamin Hanckel from the University of Western Sydney have each received an Early Career Research Fellowship (DECRA) from the Australian Research Council (ARC), attracting a combined total of more than $850,000 for the university.

Dr. Tijl Grootswagers, of the MARCS Institute and VC Fellow under the University’s Vice-Chancellor’s Fellowship Program, has been awarded $447,683 for the project, The Dynamics of Object Representations in the Brain human.

“It is still unclear how the brain effortlessly recognizes and categorizes objects. This project capitalizes on cutting-edge advances in artificial intelligence and neuroscience to address the spatio-temporal dynamics of object processing in the human brain,” said Dr Grootswagers.

“The results will be a step change in our understanding of the nature and development of neural object processing and will ultimately facilitate the diagnosis and treatment of brain disorders and accelerate the development of intelligent machines.”

Dr. Benjamin Hanckel, of the Institute for Culture and Society and a VC Fellow through the university’s Vice-Chancellor’s Fellowship program, has been awarded $434,212 for the Examining Youth Digital Wellbeing in Australia project, and the Philippines.

“Digital technologies are being harnessed for their potential to improve health and well-being. How digital health interventions provide support across national borders in the “real world” and the lives of young people are key questions in achieving global health,” said Dr Hanckel.

“Focusing on sexual health and mental health interventions for marginalized youth, this project will examine the promise of cross-national digital health interventions from the perspective of marginalized youth in Australia and the Philippines.”

Professor Kevin Dunn, Acting Deputy Vice-Chancellor and Vice-President (Research, Enterprise and International) of Western Sydney University also welcomed the funding.

“The DECRA program is essential not only for expanding Australia’s knowledge base and research capacity, but also for developing future research leaders like Dr Hanckel and Dr Grootswagers. The University welcomes funding for its future-oriented projects, which reflect the University’s commitment to research excellence and impact on the communities we serve,” said Professor Dunn.
The Australian government has this year awarded $85 million for projects under the Discovery Early Career Researcher Award (DECRA) program. The program enables early career researchers to develop and apply their research skills on projects that benefit Australians and help them progress in a research career.

ENDS

September 19, 2022

Media Unit

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Will inflation continue to rise? Yes says a Duke finance professor who explains why https://cec-ugc.org/will-inflation-continue-to-rise-yes-says-a-duke-finance-professor-who-explains-why/ Sat, 17 Sep 2022 11:30:00 +0000 https://cec-ugc.org/will-inflation-continue-to-rise-yes-says-a-duke-finance-professor-who-explains-why/ At first glance, the August Consumer Price Index (CPI) report, compared to the fever that has raged over the past few months, did not appear dire. The overall reading of 8.3% showed a small increase of 0.1% which, combined with a similar drop for July, marked a two-month flattening in price. That’s a big pullback […]]]>

At first glance, the August Consumer Price Index (CPI) report, compared to the fever that has raged over the past few months, did not appear dire. The overall reading of 8.3% showed a small increase of 0.1% which, combined with a similar drop for July, marked a two-month flattening in price. That’s a big pullback from the super hot trend for the first half of 2022, a time when the CPI was rising an average of 1% per month, or an annualized clip of 12%. But a CPI that continued to move sideways was not the good news investors expected. The July data had fueled optimism that the Fed’s interest rate hikes were already taming the beast, the peak had passed and consumer prices would fall significantly in August, sending the US on the brink. well on the way to the Fed’s 2% target and creating space for the central bank to relax. When the Sept. 13 data disappointed, Wall Street bulls pulled back, sending stocks to their biggest one-day selloff in more than two years.

In reality, the outlook for the coming months is worse than the “no increase” August figures that have so shaken investors. Going forward, we will likely see the CPI return to the pattern of serial increases. The reason? Housing costs, by far the main force in the evolution of the CPI, are already rapidly increasing Americans’ living costs. But because of the way they’re measured, a lot of those increases aren’t yet counted in the index. “This component is growing and will continue to grow,” says Campbell Harvey, professor of finance at Duke University. “It’s inflation that’s happened before, but it’s not yet reflected in the CPI. This is part of the reason why future inflation will be high and persistent. The view that the story is all about supply chain and political risk, and that we will quickly drop back to 2-3%, is wrong.

The CPI methodology makes it highly likely that the number will remain high in the coming months

Harvey distinguishes between two factors that will determine future CPI readings. The first are what he calls the “mechanics,” or how the CPI is calculated. These levers pretty much set the numbers for the next few months in stone, and they’re not pretty. The second are “structural” factors dominated by the rising tide of housing and rental costs that will increasingly inflate the readings over a longer horizon.

As for the mechanics, Harvey explains that the year-over-year change in inflation depends on two things: how big the month-over-month increase was 12 months ago and the rise of the current month. When the current month’s increase is less than the previous year’s increase, the annual CPI “observation” must fall. This explains the dramatic drop in July which raised high hopes. Prices rose by that tiny 0.1%, and since the July 2021 rise was a much larger 0.48%, the index fell from 9.1% in June to 8.5%. Similarly, in August, the 0.1% increase was less than the 0.30% gain in August 2021, triggering a smaller decline to 8.3%. Simply put, the bigger the month-over-month increase a year ago, the more the CPI will fall if the current month is stable. These mechanisms explain the drop from 9.1% to 8.3% from June to August.

But 8.3% is still a huge and troubling number. So what are the mechanics telling us about where the CPI will head in September, the last reading before the November election? Let’s make the hopeful assumption that inflation runs at an annual rate of 3% in September. This would add 0.25% to prices compared to August. Given that the increase in September 2021 was an almost identical 0.27%, inflation would remain exactly the same at that alarming 8.2%. Using the even rosier forecast that prices remain stable at August levels in September, the number isn’t much better at 8.0%. Bad readings are baked for months to come. If prices rise at that 3% annualized rate through December, the CPI that month would register 7.6%, nearly four times the Fed’s target.

Housing prices will keep inflation high for a long time

The Bureau of Labor Statistics methodology for measuring housing costs explains why they are not fully reflected in the current index and will keep it high for a long time. “Shelter” has by far the largest weight in the CPI at 32%, eclipsing foods ranked #2 at 13%. The BLS uses two measures for “housing” expenses, based on surveys of 50,000 residences. The first is the “rent of the principal residence”. This is what apartment dwellers or single family home renters are currently paying, in the month that is being measured. For homeowners, the BLS does not use home prices, which have risen nearly 20% overall over the past year. Instead, it’s rolling out “owner-equivalent rents.” To get these numbers, the BLS takes what renters are currently paying for apartments and adjusts those payments based on the size, age, renovations and neighborhoods of homes to calculate what homeowners would pay to rent their abodes. . Indeed, the growth of the institutional single-family home rental market is a good indicator for this calculation.

This methodology takes into account the large disconnect between what people are paying right now on their current apartment leases, or a hypothetical lease for a single family home, and what a family is paying right now for a new lease – in d ‘other words, the current, real – hourly cost of housing. For the past year, the Zillow rent index has posted double-digit increases. In August, the year-over-year number was 12.3%. At the start of this year, increases in the cost of housing according to the CPI were at an annualized rate of 3% and 4%. In August, the number was around 7%. “Here’s the difference between today’s housing costs and the CPI number,” says Harvey. “If you signed a 12-month lease in October 2021, your rent is blocked until October. New rents go up double digits, but you don’t pay the extra. Then you get a new lease in October and your rent goes up, say, 10%. You take this hit all of a sudden. Harvey says these continued increases, as more leases are renewed at much higher rents, will close the gap between current CPI numbers and much higher market rents, pushing the index on the rise.

A combination of rising rents and food prices will keep inflation entrenched

Housing costs decrease somewhat. In recent months, Zillow’s increases are closer to around 10%. Still, this is much higher than the 7% reported by the CPI over the past two months. At one-third of the index, a 10% increase in “rents” equates to a 3% annualized increase in the CPI, and for Harvey, recurring, built-in increases of this size are likely to last for up to a year. year. . The catch is that energy, the famous force that has kept the headline CPI constant over the past few months, is unlikely to make the same contribution to lower indices in the future. “Gasoline is only 5% of the index, but it almost solely explains the slightly negative overall reading in July and August,” Harvey says. In August alone, gasoline fell 10.2%. “I don’t think we’ll have the same weight of a gasoline price crash again,” he adds.

By contrast, food prices increased at an annual rate of almost 10% in August, after a 13% jump in July. “I don’t see any indication that the rise in food prices is abating,” Harvey said. “The index could start rising again, unless we get another big drop in energy prices.” By mid-2023, Harvey predicts, inflation will still be well above the Fed’s comfort level, at well over 4%. The main factor likely to keep the CPI up is catching up on these underestimated housing costs. This is the spoiler that optimists miss.

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U-Va. board could approve tuition reimbursement as Youngkin demands fixed tuition https://cec-ugc.org/u-va-board-could-approve-tuition-reimbursement-as-youngkin-demands-fixed-tuition/ Thu, 15 Sep 2022 23:44:49 +0000 https://cec-ugc.org/u-va-board-could-approve-tuition-reimbursement-as-youngkin-demands-fixed-tuition/ RICHMOND — The University of Virginia’s board of trustees is expected to vote on Friday to give students a one-time credit equal to its latest tuition hike, an extraordinary step that comes amid Gov. Glenn Youngkin’s efforts to maintain fees flat tuition at public universities in the state. . Earlier this week, a finance subcommittee […]]]>

RICHMOND — The University of Virginia’s board of trustees is expected to vote on Friday to give students a one-time credit equal to its latest tuition hike, an extraordinary step that comes amid Gov. Glenn Youngkin’s efforts to maintain fees flat tuition at public universities in the state. .

Earlier this week, a finance subcommittee of the U-Va Board of Visitors. recommended giving in-state undergraduates a 4.7% credit on next semester’s tuition bill.

The restitution, which has yet to be approved by the full board, would amount to $690 per student and cost the university $7.5 million. The one-time refund would not affect the university tuition rate and does not apply to fees. Most other state universities, including Virginia Tech and Virginia Commonwealth University, have taken a similar approach by approving one-time “scholarships” to offset their tuition increases.

U-Va. Rector Whittington W. Clement said the board would likely accept the discount recommendation at a meeting on Friday. University President James E. Ryan and the school’s leadership team agree with the change, which U-Va. Spokesman Brian Coy said this stems from additional state funding for higher education, cost savings, and Youngkin’s request that all public colleges and universities in Virginia keep tuition flat. for the current academic year.

U-Va. had approved his tuition rate in December before Youngkin (R) took office.

“The University is committed to excellence, access and affordability and we have been working with the governor and his team since he made his request earlier this year,” Coy said in a statement. written statement.

With a combination of soft public appeals, behind-the-scenes arm twisting and an unusually large state budget, the Republican governor quickly convinced most of the state’s public colleges and universities to scrap plans to increase in tuition and fees this year.

The Next Inflation Worry: Rising Tuition Fees

U-Va., the state’s flagship university, was one of two holdouts, along with George Mason University. Two Youngkin administration officials, speaking on condition of anonymity to discuss a confidential matter, said George Mason had indicated he was working to roll back his 3% rise.

Stephanie Aaronson, spokeswoman for George Mason, wrote in an email: “We have engaged in positive discussions with the governor and hope to reach a final decision soon.”

“At a time when inflation is hurting so many Virginia families, I appreciate the steps taken by so many public universities across the Commonwealth to keep tuition flat and I applaud UVA for seriously considered taking similar action,” Youngkin said in a written statement.

Higher education has not been a major priority for the governor, who took office in January more focused on topics like K-12 schools, tax cuts, and the elimination of coronavirus restrictions. But keeping the line on tuition lines up perfectly with his efforts to curb inflation, including the elimination of the 1.5% statewide grocery tax and a failed effort to suspend the state gasoline tax.

Of the state’s 17 public colleges and universities, only three institutions began the year with the intention of keeping tuition and fees flat: Virginia Military Institute, the College of William & Mary, and the statewide community college system. The rest had announced plans to increase tuition or fees, ranging from an 8.7% increase at Virginia State University, a historically black institution in Petersburg, to a 2.9% increase at Longwood and Radford universities.

Most institutions scrapped those plans in early July, after Youngkin and the General Assembly belatedly finished work on a cash-filled state budget, including millions more for higher education. Education Secretary Aimee Rogstad Guidera issued a series of appeals to college presidents to encourage them.

Virginia Tech’s Board of Visitors, which had approved a 3% increase in its base tuition for students, decided in June to award undergraduates in the state a one-time “scholarship” to compensate the expected increase.

Meanwhile, Virginia Commonwealth University in Richmond announced a 3.2% increase in May but, with the state budget still on hold, left some leeway by scheduling a special meeting of the board of trustees late June. By then, Youngkin had signed the state budget with increased funding for higher education; the council opted for the scholarships at this meeting.

VCU Rector H. Benson Dendy III said the The nudge from the Youngkin administration didn’t hurt, but it was just one factor that caused the school to change course, along with student feedback, final budget figures, and some “pencil sharpening”.

“The board was very interested in doing this if possible, and when they determined it could be done, we supported them,” Dendy said.

But Peter Farrell, a VCU board member and former Republican delegate from suburban Richmond, took his hat off to Youngkin.

“I give the credit to the governor,” said Farrell, who was first named to the board by Youngkin’s Democratic predecessor, Ralph Northam, and recently reappointed by Youngkin. “He really fought for all universities to keep tuition flat.”

Clement says U-Va. struggled with Youngkin’s request.

“We have great respect for the governor and his desire to help families deal with soaring inflation,” Clement said. But the board also expressed concern “not to sacrifice the national reputation that U-Va has. won,” he said. “And excellence has a cost.”

Youngkin reached out to university presidents and board members directly, with calls and in-person meetings. Clement said he and Ryan, the president of U-Va., eventually agreed to reconvene the school’s finance subcommittee on tuition to study the issue.

At a meeting on Wednesday, the subcommittee voted to recommend tuition credit to the entire finance committee, which meets on Friday morning. Clément expects from the committee and from the full Board of Visitors, which meets later that afternoon to accept the recommendation, although he expects a few dissenters.

“We didn’t do this as a knee-jerk reaction,” Clement said. “We really went back to the drawing board in a thoughtful way. Yes, we heard about the administration. They asked if we were making progress. We think it’s the right thing to do for you.

“The truth is that our fiduciary duty is to the institution we serve,” he said. “Governors always have influence, but we really approached this in a very thoughtful and deliberate way.”

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A survey of the great role of education in Australia https://cec-ugc.org/a-survey-of-the-great-role-of-education-in-australia/ Wed, 14 Sep 2022 07:23:00 +0000 https://cec-ugc.org/a-survey-of-the-great-role-of-education-in-australia/ The Productivity Commission says that year after year, between 5% and 9% of students fail to pass the low bar that meets NAPLAN’s minimum reading and math standards for their age, and that a third of children who fell behind as eight-year-olds lag behind while 15-year-olds. It must also be recognized that not all education […]]]>

The Productivity Commission says that year after year, between 5% and 9% of students fail to pass the low bar that meets NAPLAN’s minimum reading and math standards for their age, and that a third of children who fell behind as eight-year-olds lag behind while 15-year-olds.

It must also be recognized that not all education problems arise behind the school gate when attendance rates are a national disgrace.

Disadvantaged students, particularly Aboriginal students and those whose parents have not completed high school, are overrepresented in this school subclass. It was the students that all of Gonski’s extra money was supposed to help the most, if only he really focused on solving this problem rather than a brutal redistribution of funding.

But equally alarming is the finding of the Productivity Commission that 85% of underachieving students are not from disadvantaged groups. It is shameful that a much more expensive school system does not allow students from all walks of life to master at least the basics that are the basis for future success in school, college and work.

That more money hasn’t worked won’t stop the usual education suspects from calling for more money to be spent in dubious ways, like on smaller class sizes, rather than putting the best teachers in front students and teach them in the most effective way.

What’s not needed is another Gonski-style monument-spending gesture. The Productivity Commission notes that teacher-student ratios are lower in primary schools than a decade ago and remain unchanged in secondary schools.

He rightly points out that improving teacher effectiveness is the single most important factor in improving student achievement. Hence the call to reduce the administrative burden which accounts for 10 percent of a teacher’s workload, compared to 65 percent of the time typically spent on basic teaching, planning and grading tasks.

But while noting stakeholders’ concern about the “lack of clear visibility into what is happening in classrooms”, the commission did not buy into teacher training, pedagogy and curriculum issues part of the so-called “teaching wars”.

Corrective Action Required

The challenge now is to take corrective action to help disadvantaged students and other low achievers that “giving a Gonski” left behind. The development of targeted and effective strategies would be facilitated by the fact that state governments would finally reach agreement on a unique national student identifier to track student progress after more than 10 years of delay.

In the age of big data and analytics, digital accountability for student success should be a priority for new federal Education Minister Jason Clare, who must urgently address the whole issue of decline in student performance.

It must also be recognized that not all education problems arise behind the school gate when attendance rates are a national disgrace. Between 2015 and 2021, the proportion of students attending school nine days out of 10 increased from 78% to 71%. In rural and remote areas, the figure is 63% and 41% for Aboriginal students.

The once respectable social norm that, except for illness, children must attend school has crumbled amid what appears to be unchecked and illegal absenteeism. Where are the school authorities, and where is the parental responsibility? If vaccination is tied to government payments in the best interests of children, perhaps school attendance should be too.

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GRAND CANYON UNIVERSITY STUDENTS RELEASE SEVENTH COMPLETE ALBUM https://cec-ugc.org/grand-canyon-university-students-release-seventh-complete-album/ Mon, 12 Sep 2022 15:00:00 +0000 https://cec-ugc.org/grand-canyon-university-students-release-seventh-complete-album/ Students gain hands-on experience in one of the University’s Lopes Live Labs PHOENIX , September 12, 2022 /PRNewswire/ — The Grand Canyon University The Worship Arts program has released its seventh album, Canyon Worship 2022. The collaboration can be seen through the 11 new songs, all of which were written and performed by GCU students […]]]>

Students gain hands-on experience in one of the University’s Lopes Live Labs

PHOENIX , September 12, 2022 /PRNewswire/ — The Grand Canyon University The Worship Arts program has released its seventh album, Canyon Worship 2022. The collaboration can be seen through the 11 new songs, all of which were written and performed by GCU students and recorded in the University’s state-of-the-art recording studio , one of GCU’s Lopes Live Labs (L3).

Grand Canyon University logo. (PRNewsFoto/Grand Canyon University)

“In our seventh year of Canyon Worship, the students really took the project to the next level,” said Eric Johnson, GCU recording studio manager. “This album is marked by collaboration and creativity. It’s an eclectic mix of praise and introspection marked by thought-provoking ideas and passionate worship for our creator.”

Collaboration is an important element woven into this year’s album. Four of the 11 songs were written with three or more students. Senior madison russel featured on three of the album’s four collaborations, as well as a solo song, “Always a Reason”. “I’ve always been open to co-writing, but I think I was too afraid to be vulnerable and share my ideas with someone else,” Russell said. “It was really fun, and I got to know people better from it. All of my friends, we got a lot closer writing together.”

The GCU Recording Lab is one of 49 L3s in the Phoenix Campus. These labs are designed to provide students with hands-on training so they can learn real-world skills, making them more marketable to future employers.

“Canyon Worship 2022 is an exciting album that GCU can be proud of,” said Worship Arts Director. Randall Downs. “The students really showed their talents through the writing and performing of Canyon Worship 2022. The songs are about God’s goodness and faithfulness. I can’t wait to see how this album speaks to people around the world. whole world.”

The 11 songs and authors of Canyon Worship 2022 are:

  • Sometimes (Edwin Lopez, madison russel, Victoria GutierrezColter Bonaroti)

  • Burdens to Bear (Baraka Shekanena)

  • Always a reason (madison russel)

  • Consumers (Amanda Riffe)

  • The real thing (Nicole JasperColter Bonaroti, madison russel, Victoria Gutierrez)

  • Dry bones (Nicole Swartz)

  • I’m yours (Victoria Gutierrez, Nicole Jasper, Annabelle Butcher, madison russel)

  • Heaven is here (Kyleigh Almitch)

  • Here (I will be) (Trina Beecher, Edwin Lopez, Alex Ramirez)

  • The most precious (Nicole Jasper)

  • From Winter to Spring (Instrumental) (Gabby Kim)

Canyon Worship 2022 was produced by music industry veterans Geoff Hunker and David Willy, who are no strangers to the album. Hunker has been producing Canyon Worship since 2016, and Willey joined in 2019.

The album is available for streaming on Apple Music, Spotify and Amazon Music.

GCU’s Center for Worship Arts combines both ministry and performance with a mix of industry experts, instructors and seasoned ministers of worship. The program includes 32 credit hours in the College of Theology, ensuring that students are grounded in Christ and prepared to become worship leaders in churches around the world.

For more information visit https://canyonworship.gcu.edu/

About Grand Canyon University: Grand Canyon University was founded in 1949 and is from arizona first private Christian university. GCU is regionally accredited by the Higher Learning Commission and offers 312 academic programs, accents, and certificates for traditional undergraduates and working professionals. The University’s curriculum emphasizes interaction with classmates, in person and online, and individual attention from instructors while fusing academic rigor with Christian values ​​to help students find their goal and to become competent and caring professionals. For more information, visit gcu.edu.

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