Mercator College established

The Mercator Foundation in Essen and the Swiss Mercator Foundation to provide 6.5 million EUR for remodeling and new construction of IUB's second residential college.

[ May 31, 2002]  The new college will be home this fall to 200 new IUB students who will live and study together as members of Mercator College.

"The Mercator Foundation set itself the goal of supporting new initiatives and ventures intended to modernise German higher education," commented Michael Schmidt, director of the Mercator Foundation in Germany, in summarizing the reasons behind their decision. "A reform proposal such as the establishment of IUB, whose view unlike that of any other private college reaches far beyond Germany's borders, promises an important new direction – and in this way ideally fits the goals of our foundation."

Living quarters in the new college will consist of double apartments – two single furnished student rooms with Internet access – with a shared bathroom and entry. The completed college will also offer a full cafeteria, various study and commons rooms, as well as the college masters' apartment. Construction work on the new college has already begun and the first phase will be ready in time for the beginning of fall semester.

IUB President Fritz Schaumann expressed his gratefulness and thanks to the two foundations for their support.

About Mercator The Swiss Mercator Foundation was founded in 1996, the Mercator Foundation in Germany in 1997; both by the Karl Schmidt family, active wholesalers and retailers for three generations. In addition to their support of innovation in higher education they are also dedicated to intercultural understanding and the advancement of children and young people of school age. This in keeping with the best-known citizen of Duisburg, the cartographer, scientist and entrepreneur Gerhard Mercator. Mercator's influence in the 16th century, like his lifelong work, are expressions of an openness to the world, of tolerance, and of scientific and cultural exchange.