Texas Tech Announces TRIP Funds
September 2, 2009
Texas Tech University has received private gifts totaling $24.3 million that are eligible
for the Texas Research Incentive Program (TRIP).
Texas Tech University has received private gifts totaling $24.3 million that are
eligible for the Texas Research Incentive Program (TRIP). The fully matched potential
of these gifts is $21.5 million. The 28 gifts are from 20 individuals and eight corporations
“We are thankful to everyone for their support of Texas Tech University and our goal
of becoming the state’s next national research university,” said Kent Hance, Texas
Tech University System chancellor. “The fact that the fund is oversubscribed for 2010
as of today shows that this is good for all seven emerging research universities and
will be extremely beneficial for the state of Texas.”
The TRIP fund was created in the recently enacted HB 51, which sets out criteria and
funding mechanisms for the seven designated emerging research universities to achieve
national research university or Tier One status.
“The money from TRIP will enable us to improve the quality of academic programs and
to provide additional research that impacts the daily lives of Texans and people around
the world,” said Guy Bailey, Texas Tech University president. This investment in
Texas will bring about ideas that fuel the economy and allow us to continue to ensure
a bright future for our state."
TRIP provides $25 million each year for next two years to match private gifts raised
by the universities. Any gifts not matched in 2010 will roll over to 2011 for matching.
The gifts may go toward endowed chairs, professorships, facilities, equipment, program
costs, or graduate student stipends or fellowships.
All gifts deposited by the seven universities on Sept, 1 are eligible for TRIP and
will be considered by the Higher Education Coordinating Board in a block. Final award
regarding the match should be determined by the end of October for 2010.