01 February 2013, World University News.
A new university ranking system, U-Multirank, was officially launched by the European Union (EU) in Dublin on Wednesday, bringing a new and broader approach to the assessment of universities throughout the world.
Some 500 universities worldwide are expected to sign up to U-Multirank, and the first results will be published in early 2014.
U-Multirank will rate universities in five separate areas: reputation for research, quality of teaching and learning, international orientation, success in knowledge transfer – such as partnerships with businesses, and start-ups – and contribution to regional growth.
The aim, said Androulla Vassiliou, the European commissioner for education, is to give students and institutions a clear picture of their performance across a range of important areas.
Until now university rankings have placed “disproportionate” weight on research excellence, she said.
Brussels has proposed a funding allocation of €2 million (US$2.7 million) from the EU’s Lifelong Learning Programme in 2013-14, with the possibility of a further two years of seed funding in 2015-16