The University of Oxford has agreed to enter what it called a ¡°long-term strategic alliance¡± with a foundation run by one of the world¡¯s richest men, securing ?100 million worth of investment in joint research programmes.

The top-ranked university has forged closer ties with the Ellison Institute of Technology ahead of the opening of its Oxford campus in 2027 ¨C a ?1 billion site on the Oxford Science Park that will feature research laboratories, supercomputing facilities and an oncology and preventative care clinic.

Los Angeles-based EIT, founded by Larry Ellison, the chairman and chief technology officer of software giant Oracle, had?already agreed to fund a scholarship programme?supporting 20 students from around the world to study at Oxford, the first of whom are set to begin next year.

Additional funding announced on 3 December is intended to help unlock collaborations between Oxford¡¯s researchers and the scientists and entrepreneurs who will be based at the new campus.

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It aims to play a part in ¡°addressing humanity¡¯s greatest challenges¡±, with a particular focus on four areas: health and medical science; food security and sustainable agriculture; climate change and clean energy; and government innovation in the age of artificial intelligence.

¡°The ultimate shared aim is to ensure scientific discovery and pioneering research are turned into products for the wider benefit of society and for global impact,¡± a statement said.

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An ¡°alliance faculty model¡± will offer opportunities for Oxford researchers to take up roles within EIT, and some of the foundation¡¯s scientists are also set to be offered academic appointments. Key figures previously announced as being involved in the project include Sir Tony Blair, the former UK prime minister; David Agus, EIT¡¯s founding director; and Sir John Bell, Regius professor of medicine at Oxford.

EIT said it will invest ¡°at least ?100 million¡± in joint research programmes, with a further ?30 million being spent on creating a new doctoral training centre focused on artificial intelligence to be based in the university¡¯s Mathematical, Physical and Life Sciences Division.

This money will fund full scholarships for at least 100 postgraduate students to join the Centre for Doctoral Training over the next five years.

According to?, Mr Ellison is the world¡¯s fourth richest man, with an estimated net worth of about $200 billion (?158 billion).

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He retains 40 per cent of shares in Oracle, a company he founded in 1977 and where he served as chief executive until 2014.

Mr Ellison said the mission of EIT was to ¡°have a global impact by fundamentally reimagining the way science and technology translate into end-to-end solutions for humanity¡¯s most challenging problems¡±, and the partnership with Oxford was ¡°at the heart of delivering on that goal¡±.

Irene Tracey, Oxford¡¯s vice-chancellor, said it was a ¡°unique opportunity to bring together great minds to address humanity¡¯s most pressing challenges¡±.

The ¡°generous support¡± for students and research ¡°will be transformative in empowering future leaders and accelerating successful research through innovation into economic and societal impact¡±, Professor Tracey added.

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tom.williams@timeshighereducation.com