■ Higher Education
■ Higher Education
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19NJIT has always had a close relationship with the private sector . It ’ s best seen through the New Jersey Innovation Institute – a corporation created by NJIT nearly a decade ago to develop partnerships between higher education and business . Last year NJII sold its life science company , BioCentriq Inc ., to GC Corp ., a conglomerate in South Korea , for $ 73 million . Lim points to the sale as further proof of NJIT as an economic driver for the state and an example of a new revenue source to support education .
Lim is intent on finding new ways to diversify NJIT ’ s revenue sources . “ Raising tuition to run this institution is not the answer anymore ,” he said . This year ’ s tuition hike was contained to 2.75 percent , one of the state ’ s lowest since the rate hikes elsewhere were up to 6 percent .
The new president also started a fund-raising campaign for create a $ 30 million endowment that will guarantee students from low-income families can attend NJIT .
Dr . Lim poses with students at the NJIT ' s Highlander Festival .
Dr . Lim enjoys meeting students at the wide range of NJIT activities that integrate community service , quality of life and advanced learning .
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