Discipline: Business and Economics
The scarcity of research universities in developing countries, as well as the global acceptance of the need for research, has created a chasm that is currently attempted to be bridged by the presence of university research centers. Considering that research centers are primarily organized to foster research by bringing together faculty researchers from varied disciplines, revenue generation is not within its most immediate mandate. As such, they are often viewed as cost centers, placing them in the mercy of available government funding as well as budget allocations from the university that they belong to. This study endeavored to explore the financial viability of university research centers by projecting its results of operations from a set of reasonable assumptions. Composition analyses of its estimated revenues and expenses were performed. It was found out that, for a start up research center, the primary revenue sources were that of student research fees and the proceeds from the sale of research journals. Consequently, it was seen that substantial investments need to be made to develop the research culture of the institution and to have researchers. The study concluded that the operation of a research center in a university was found to be financially viable. It was further recommended that administrators of institutions of higher education must view university research centers as possible business centers, and that revenue sources must be explored.