Tampere University’s 2024 Financial Statements: growth in international research funding and degree conferrals across all educational levels
One of the key events in 2024 was the European Commission and the Finnish Government pledging a total of €40 million for establishing the System-in-Package Fabrication (SiPFAB) pilot line in in Tampere University.
Tampere University was awarded €27 million under the nationwide doctoral education pilot, which will support 106 doctoral researchers for three years. We also secured additional funding to permanently increase the number of places for medical students.
Degree conferrals increased at every award level, and the share of international graduates rose.
In the annual Reputation & Trust survey assessing the reputation of Finnish universities, Tampere University achieved the highest increase. Our reputation improved across all areas, particularly in leadership metrics.
International research funding grew, the development of research infrastructures continued
International research funding continued to grow in 2024. Funding from the EU’s framework programmes increased by 12% compared to the previous year and has more than doubled since the University’s establishment in 2019. Among domestic funding sources, there was a rise in funding from Business Finland.
Both the quantity and quality of peer-reviewed scientific publications authored by our researchers have remained consistent in recent years. As part of our strategic focus, we place great importance on the proportion of open-access publications, which have consistently accounted for over 80% of our total research output.
The active development of our research infrastructures continued in 2024. We selected the first university-level research infrastructures and commenced construction on a new addition to the Hervanta campus. Tampere University is involved in 11 of the infrastructures selected for the national roadmap for research infrastructures and received close to €4.5 million in funding for the development of these infrastructures.
Growth in degree conferrals, the on-time graduation rate and student satisfaction
We conferred a total of 4,809 degrees across ten fields of study in 2024. Master’s degrees were awarded to 2,458 and postgraduate degrees to 239 recipients. Degree conferrals increased at every award level compared to the past few years, and the share of international graduates increased. International graduates accounted for 15.8% of our bachelor’s and master’s degree recipients and 36.4% of postgraduate degree recipients. In 2024, 38% of our graduates completed their studies within the target timeframe. The share of students who earned their bachelor’s degree within the target timeframe exceeded 50%.
Based on the number of degrees conferred in different fields of study, our education profile has remained unchanged. The largest numbers of master’s degrees were conferred in engineering and technology (776) and social sciences (551). We conferred 296 master’s degrees in computer sciences and communications engineering, and 232 in medicine and health and well-being sciences. The broad impact and multidisciplinary nature of our education is evident from the fact that the number of master’s degrees awarded in several other fields of study also ranged between 100 and 200.
The results of the 2024 Finnish Bachelor’s Graduate Survey showed a rise in student satisfaction, reflecting the well-being of our students.
The number of first-choice applicants seeking admission to our degree programmes decreased from the previous year, totalling 11,180. The fluctuation in applicant numbers is related to changes in the number of degree programmes we offer each year. The number of applicants for our English-language BSc or MSc programmes totalled 9,538, marking an increase of more than 2,000 applicants from the previous year. The number of degree-seeking students who accepted their offer of admission increased across all educational levels.
Tampere University closely involved in the EU’s chips initiative, growth in inventions
Engagement with society is woven into the fabric of our everyday activities. A substantial portion of our research is conducted in collaboration with international stakeholders. Our specialists actively participate in various policy processes, contribute to the formulation of national recommendations and engage in public discussions as well as hold notable positions of trust across the public, private and third sectors.
In 2024, Tampere University was selected to participate in all the key instruments of the European Union’s Chips Act, with the most significant being the extensive European pilot line consortium, where we are closely involved in implementing the System-in-Package Fabrication (SiPFAB) pilot line. The European Commission and the Finnish Government allocated a total of €40 million for setting up this pilot line for semiconductor chip packaging in Tampere University.
In the sphere of national research, development and innovation activities, we expanded our collaborations within the framework of Business Finland’s ecosystems. The Well-Being Services County of Pirkanmaa and Tampere Universities signed a strategic framework agreement encompassing collaborations in research, development, innovation and education. Tampere University entered into a five-year collaboration agreement with the Finnish Transport Infrastructure Agency to enhance the safety of rail travel.
In 2024, Tampere University’s staff filed 54 invention disclosures and were granted seven national patents, marking a significant improvement in inventions after a few years of decline. Seven inventions were transferred to partner companies, and four technologies were transferred to spin-off companies originating from research conducted at the University. Three spin-off companies were established.
Good performance in education and research creates a positive outlook for future funding
In the financial year 2024, Tampere University’s total operating revenue amounted to €367.5 million, which is €13.4 million more than in 2023. Our government funding grew by €19.7 million from the previous year, reaching €224.0 million. This growth is primarily due to the adjustment of the university index, which is linked to the cost-of-living index, and the additional funding from the Ministry of Education and Culture to support the permanent expansion of medical school places, the implementation of Finnish universities’ strategies and the training of medical doctors educated abroad.
Our operating expenses amounted to €369.3 million, which is €4.6 million more than in 2023. Staff costs increased by €3.7 million to €236.9 million, which is largely attributed to across-the-board salary increases agreed upon in the collective agreement. Index adjustments resulted in rental costs being €3.3 million higher than in the previous year, totalling €46 million. Conversely, other expenses saw a slight reduction from 2023.
The University reported an operating deficit of €1.8 million for 2024. However, after adjusting for non-recurring items and the utilisation of Tampere University Foundation’s capital, the operating results show a surplus of €8 million. Fundraising efforts and investment income further increased the overall financial results to €60.3 million.
“We set out to achieve balanced operating results for Tampere University in 2024, and the financial statements confirm that we successfully reached this goal. The good performance in education and research provides a positive outlook for our funding in the coming years. Thank you to all the faculties and the entire university community for their excellent work and commitment to our shared goals!” says President Keijo Hämäläinen.
In the financial year 2024, the entire corporate group’s operating revenue totalled €445.6 million, resulting in an operating surplus of €5.7 million. The Consolidated Financial Statements include the results of Tampere University Foundation’s subsidiaries, namely Tampere University of Applied Sciences Ltd (87.0% ownership), Campusta Oy (100% ownership) that provides facility services, and TUNI Start Oy (100% ownership) as of 26 August 2024.
“We have made significant strides in our research activities, education and societal impact. According to our assessment, the working atmosphere and occupational well-being within the Tampere Universities community have improved. All this has been achieved while meeting, or even slightly exceeding, our budget targets across Tampere Universities – the corporate group – for the first time in the history of the current foundation-based Tampere University. I would like to thank every member of our community for the good results in 2024,” says Chair of Tampere University Foundation’s Board Jorma Eloranta.
Inquiries: President Keijo Hämäläinen
Read more about our year: Tampere University’s annual review 2024
