A) The INVEST structural perspective will be developed stressing the following main lines of cooperation based on the common provision of services, database, and education and linked to research, innovation, and scientific infrastructure:
• Governance - joint mission, structure and bodies, staff, and development;
• Studies – common academic calendar, grading system and application of ECTS, study programs and courses, admission requirements and application, procedures for recognition of learning;
• Science, Research & Development – research projects, shared researched centers, mutually complementing Living Lab’s, scientific events and publications;
• International relations and mobility – international relations unit, students and staff mobility, winter and summer schools, training practices abroad, etc.;
• Projects and events – projects unit, events center, press, and publishing;
• Career and employment – partners /enterprises and organizations/, business alliance/cluster, internships and scholarships, counseling and support, alumni network, platforms, etc.
• Virtual campus – information and communication platform, e-application tools, e-learning platform, communication tools, INVEST repository;
• Quality assurance and accreditation – quality policy, quality assurance manual, procedures and processes, and quality assurance guidelines.
As for the financial perspectives, it will be assured by the elaboration and implementation of the project cooperation model and it will include but will not be limited to making agreements for membership fees, financial rules for INVEST virtual campus usage and maintenance, the establishment of a special fund for sponsorship and donations, seeking additional project funding, etc.
B) A common governance structure will be created, carrying out the management, administration, and decision-making activities within the project lifetime and after its end:
• Management Board: the decision-making body, consisting of the following main units:
o The Chair – a position occupied by the rector (or delegated Vice-Rector) of each partner university, based on the rotation principle (the rotation frequency will be approved by partners);
o Rectors' Assembly – composed of rectors of participating universities, responsible for the decision-making process. Rectors’ Assembly will meet 4 times within the project lifetime and will take decisions that are strategic for INVEST;
o Project coordinator – a mediator between the Rectors' Assembly, project local coordinators (for each partner university), and each individual Board;
o Project local coordinators – contact persons from each partner university responsible for the project management and implementation of project activities at their institution.
• Evaluation and Consulting Committee – the body responsible for the monitoring and the quality assessment of project activities, carried out by members of each individual Board and its administration.
• INVEST Academic Board – the body responsible for the implementation of activities connected with studies, both at the level of project implementation and at the institutional level, too. Representatives of students will hold a relevant position in this body and thus they will share responsibilities in the decision-making process, especially in the field of study affairs, study programs, mobilities, and Living Labs.
• INVEST Research and Innovation Board – the body responsible for the implementation of activities towards excellent research.
• Technical – Administrative Board – technical – administrative unit operational at each partner university, assuring technical and administrative support for each Board member and their activities.
The proposed governance structure contributes to strengthening and expanding the cooperation across the various levels of the organizations and across different areas of activity of the alliance in the provision of education.
C) While the Management board will be the most responsible body from the organizational point of view, the INVEST Academic Board will be the most important body from an institutional perspective, especially concerning the staff and students and their involvement in the university creation. At the institutional level, the Board will manage study affairs of the INVEST for incoming/outward students, together with technical and administrative assurance of their mobility. The board will be responsible for the further development of the Virtual Campus – the basic tool of the alliance not only to manage the study affair but even to provide an access to the staff and students, giving them opportunities to be involved in the development of the alliance common degrees and courses (at all levels including the lifelong learning), mobilities and training/learning materials.