Taking on a new role

It has taken some ten years for the Izmir Chamber of Commerce to construct the region’s sole economics university. “The idea emerged from a deep diagnostic of the needs of SMEs in the region that suffered from a cruel lack of manpower trained in international trade,” comments Ekrem Demirtaş, President of the Chamber.
Constructed just eight years ago, this 38,500 m2 university has already built up a fine reputation. It is notably the country’s only university of this type to provide teaching in English – a quality that partially contributes to its renown, proudly described by Ekrem Demirtaş: “We are ranked as the fifth favourite university out of the country’s 38.” An outstanding result for a university that only counted 304 students in 2001. “Today, there are over 6,000,” continues the President. “And we are expecting around 9,200 for the academic year 2013-2014.” Expansion that means that a 6,000 m2 extension will be undertaken this year to welcome new laboratories.
Beyond its financial success (100 million dollars in revenue, in other words 73.8 million euros), the creation of the university has enabled the elimination of the brain drain in a region particularly affected by this phenomenon. “Before 2001, many of our young people left for large Turkish cities, such as Istanbul, as there were no adapted structures in Izmir. Most never came back.” Today, according to the Chamber’s statistics, the tendency has been clearly inverted, as 67% of the young graduates from the University of Izmir decide to stay to work in the region.
The renown of the University of Izmir even exceeds the country’s borders: as a member of the EUA (European University Association), Izmir is the partner of 40 foreign universities. Founded on a mixed model uniting academic and commercial skills, the University of Izmir contributes directly to the local economy by injecting an average of 200 million euros each year. On top of all this, this project, atypical for a Chamber of Commerce, as much for its initial investment (4 million dollars, or 2.9 million euros) as for its nature, has allowed the Izmir region to catch up its economic lag in Turkey.