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In page Karlsruhe Institute of Technology:
"The main reason for establishing KIT was to strengthen Karlsruhe's position in the German Universities Excellence Initiative, which offered elite universities grants of up to 50 million euros per annum. This aim was not achieved. While the University of Karlsruhe was chosen for the initiative in 2006/2007, KIT failed to secure a place in 2012. It did, however, attract funds from other sources. In 2008, Hans-Werner Hector, co-founder of SAP, raised 200 million euros to support researchers at the institute. (Hector is the only founder of SAP who did not graduate from the University of Karlsruhe; he was given an honorary doctorate for his support of intellectually gifted children in 2003.)
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