Peradeniya University initiates Endowed Professorship Scheme

The University of Peradeniya has launched an Endowed Professorship scheme, a first for Sri Lanka.

At the 30th iPURSE research conference at Peradeniya concluded recently, the University initiated the Endowed Professorship scheme. The Professor Lakshman Samaranayake, a Professor Emeritus from the University of Hong Kong and an esteemed alumnus of the University’s Faculty of Dental Sciences, donated five million rupees from his personal funds for the scheme.

Although relatively unfamiliar in Sri Lanka, endowed professorships are a revered tradition in prestigious universities worldwide, such as Harvard University in the USA and the University of Oxford in the UK. Historically, these professorships date back to AD 176 with Roman Emperor Marcus Aurelius, and in more recent times, they were established at the University of Oxford in 1505 and later at Harvard University in 1721.

Endowed professorships bring essential research funding to the University from private funds and industrialists. The endowment, typically a substantial sum of money, is invested, and the income generated is utilized to sustain a named professorship, in perpetuity.

These professorships are often established to attract and retain top faculty members by offering additional resources and recognition. The funds from the endowment can support the professor’s salary, research activities, travel expenses, and other scholarly pursuits, enhancing the institution’s reputation and prestige.

Endowed professorships also play a crucial role in ensuring stability and continuity in key academic positions by providing a reliable source of long-term funding. The title of the Endowed Professor can be named after the donor, their loved ones, or an industry leader who contributed to the professorship.

Following Professor Samaranayake’s initial donation, additional alumni generously contributed twenty million Rupees, creating an initial foundation of 25 million Rupees earmarked for the research foundation.

At the iPURSe ceremony, Professor Samaranayake said, “I hope our current efforts will grow into a robust foundation, inspiring a culture of philanthropy among philanthropists and industry leaders for the benefit of Peradeniya University and the wider Sri Lankan university landscape. Given our resource-limited environment, public funding alone cannot uphold high-calibre research, making such contributions vital in retaining our talented researchers and preventing brain drain.”

Further information on the endowed professorship scheme could be obtained from Professor Janaka Ekanayake, Director, University Research Council, University of Peradeniya.