The Hochschild Group commits to construct a new campus to house UTEC, a non-profit engineering university with an advanced, holistic approach to STEM education by 2015. The Hochschild Group will build on the expertise of TECSUP, a longtime partner of the group and other international institutions and companies to develop world class academic program.
UTEC will provide a first rate engineering education for the people and enterprises of the future. UTEC will educate creative engineers who are sensitive to social needs and have a broad scientific knowledge; allowing them to research and solve today's pressing technological challenges. At the new campus, the university will offer engineering programs for talented students with a basic education, special programs which cater to the Peruvian university degree program, and postgraduate studies for those who have obtained a bachelor of engineering technology through TECSUP, or other similar institutions. Loans and scholarships will enable access for all students who demonstrate talent, regardless of their economic resources. Strong emphasis will be placed on ensuring that the new campus is modern, well equipped, and a supportive environment for students to learn and innovate.
As was the case in TECSUP, the support of private sector companies will be crucial in obtaining the financial resources necessary to complete this project. Their participation in the board will assure adequate orientation of the operations and international partners will help with their expertise, offer joint courses, and assist with academic exchange. Finally, the school will attract young professors from Peru and abroad to offer a world class education for UTEC students.
The university is currently operating with four-hundred students in TECSUP's campus. Construction of the new campus will begin in December 2013 and it is estimated to conclude by January 2015. One-thousand students will move to the new campus in March 2015 and the number of students will increase to 2,100 by 2020.
The founding faculty members and administrative staff of UTEC will come from the TECSUP staff and new professors will be hired through an open international selection process. By 2017, UTEC will have approximately 100 fulltime faculty members.
By 2014, the university will have at least two full-time faculty members from Purdue University and other prestigious universities. Student research projects will be coordinated with two international universities by 2014 and four others will join by 2015.
According to the World Bank, Peru has experienced an average of 6.5% GDP growth over the past five years. However, as Peru continues to grow, the lack of skilled engineers and opportunities for world class technical and engineering education becomes evident. Few Peruvian universities offer quality engineering programs and the ones that do follow a traditional approach that lacks a holistic conception of the engineering profession.
Investing in education will have benefits for individuals and Peruvian society as a whole. Education increases an individual's ability to secure a better job and also increases the availability of professionals that will drive sustained growth in Peru. Despite the impact that economic growth has on the demand for technical skills, there is still a need to increase opportunities for professional training in STEM fields. Some institutions have opened in the past few years to offer a different range of specializations, but there remains a need for innovative education approaches to close workforce skills gaps.
Sponsored by Hochschild, technical colleges such as TECSUP have been addressing the lack of STEM educated professionals in Peru for the past twenty-five years. Students from TECSUP come from all over Peru, including remote communities in Peruvian Andes and the Amazonian region and the colleges have educated over 7000 technical professionals that have obtained a degree equivalent to bachelor of engineering technology. TECSUP is a non- profit entity and whoever passes the admission exam will study regardless of their funding circumstances, as TECSUP lends the money needed and student's repayment is made in accordance with the student's capacity. The repayment and employment level upon graduation is very high: 97% of loans are repaid and 96% of graduates have a full-time job.
The Hochschild group is looking for partners that can provide: (1) financial resources, (2) best practice information, (3) academic exchange opportunities for UTEC students and faculty staff, (4) research funds, and (5) internship opportunities in engineering and STEM research.
The Hochschild Group is offering the opportunity to be implementing partners, share best practices, opportunities for academic exchanges in UTEC, and human and lab research resources.