Such an initiative, says Chancellor Carnesale, is an essential component of UCLA's multipronged effort to maintain its momentum as an intellectual engine that helps, among other things, to drive the economy of California, lead the way toward advances in health care and initiate improvements to K-12 education. The announcement by UCLA was met with enthusiasm from many who see the initiative as a major step to support the university's ability to compete on a more level playing field for topflight students and faculty, and to maintain its place as an outstanding center of excellence so necessary to the societal and economic health and well-being of California. "By performing cutting-edge research and by training the future leaders of our industries, UCLA and the state's public research universities form a pillar of California's economic prosperity," says Henry Samueli '75, M.S. '76, Ph.D. '80, co-founder and chairman of Irvine, Calif.-based Broadcom Corp. "Preserving UCLA's strength and enhancing its ability to compete is imperative to the economic future of California."

Here, Chancellor Carnesale talks with UCLA Magazine about the challenges and UCLA's response to them.

Q: Why are measures such as this new initiative necessary at this time?

A: UCLA is an outstanding community of scholars and students, and investing in UCLA is critical for our regional and state economies. UCLA and the other campuses of the UC system are economic engines for our respective regions, and for the entire state of California. A study by the Milken Institute in March amply demonstrates this point. The study shows that investment in science and technology assets, from higher education to access to venture capital, is crucial in determining a state's future economic success. Continued investment in the university as a whole, and in its individual campuses, is vital for this success and for the well-being of UCLA and all Californians.

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