Barely six months after its creation, Calit² is on firm financial footing. In late July, California Gov. Gray Davis signed into law a 2001-02 state budget that includes $25 million in capital funds for the California Institute for Telecommunications and Information Technology. The money will be used primarily to continue design and begin construction on the two buildings that will house institute facilities at UC Irvine and UC San Diego. This is the second of four equal installments pledged by the state in 2000.
Meanwhile, Calit² is well on its way toward achieving locking in pledges worth $140 million from private companies over four years. Calit² 's industrial partners are making good on financial commitments to the institute. So far, institute officials have completed agreements worth nearly $47 million with industrial partners, and they are in active negotiation on over $90 million more.
Separately, faculty associated with Calit² aggressively pursued federal funding on a wide range of projects leading to well over $38 million in awarded or pending grants since January 1, 2001. That is two-thirds of the original four-year grant goal for the institute, a collaborative partnership of UC Irvine and UC San Diego.
Apart from the funding from the state and industrial partners, Calit² expects to raise money from private donations and campus sources ($30 million each), and federal research grants. Taken together, all fund-raising is expected to push the total Calit² budget to more than $400 million over four years. That's one-third higher than the original target. For a complete list of the institute's industrial partners, click on Industry at left.