DLSU prexy proposes endowment fund to develop top caliber engineers

MANILA, Philippines - An official of one of the country’s top private universities has urged private firms to help put up a P120 million endowment fund to develop top caliber engineers in the country.

“I propose that we all work towards a P120 million endowment fund, the proceeds of which will be used to provide scholarships for 10 doctoral students, 20 masteral students and reserve about P2 million to P4 million for competitive research grants per year,” De La Salle University president Bro. Armin Luistro said at a forum at the Sofitel Philippine Plaza Manila in Pasay City.

Luistro said about P2.76 million would be spent for the stipend of 10 doctoral students while P3.6 million would be allotted for the stipend of 20 masteral students.

Luistro said the funds would be managed by the Engineering Research and Development Technology (ERDT), a consortium of seven-member universities in the country that offer mature master’s and doctoral degrees in various engineering fields. The ERDT is composed of the De La Salle University, Mapúa Institute of Technology, Ateneo de Manila University, Mindanao State University Iligan, University of San Carlos, Central Luzon State University, and the University of the Philippines-Diliman.

The ERDT was established in April 2007 with a P3.5 billion funding for three years. It was aimed at improving the qualifications of practicing engineers and developing a critical mass of MS and PhD graduates.

Luistro said the funds would come from large corporations, medium-sized corporations and small scale businesses.

“At earnings of about seven to eight percent per annum, we have about P8 to P10 million earnings each year to be used exclusively for engineering education and research and development,” he said.

“That can be our perpetual seed money for ERDT beyond 2010,” Luistro said. “It will be an important investment for the country and for your industry,” he said.

Sen. Edgardo Angara had said the country has the lowest number of scientists and engineers doing R&D, with only 108 per one million population, compared to Singapore’s 4,613 and Malaysia’s 726.

University of the Philippines president Emerlinda Roman said each time the country produce one MS graduate, Vietnam produces six, Thailand 25 and Singapore 200.

Roman also said that out of the 53,487 graduates of engineering each year, only 11,700 pass the government’s licensure exams.