Ahistoric Heads of Agreement to support the creation of a new university for the future has been officially signed.

The agreement was signed by the State Government, University of Adelaide and University of South Australia.

The new university will be called Adelaide University and will have the largest cohort of domestic students of any university in Australia when it opens in 2026.

The universities’ respective councils have formalised an agreement to work with the government in support of the creation of the new university after the feasibility phase gave confidence the benefits were compelling.

By 2034, the new university is forecast to contribute an estimated additional $500m per year to the South Australian economy, educate more than 70,000 students, which is approximately 13,000 more than both universities combined today, and create an additional 1200 jobs.

The universities’ feasibility assessment also projected that by 2034, the new university would attract a forecast 6000 additional international students, assist an additional 800 low socio-economic students pursue higher education and generate an additional $100m in research revenue every year.

University of South Australia Vice Chancellor and President Professor David Lloyd spoke about what the university of the future will mean for the UniSA Mount Gambier Campus.

“The new Adelaide University will retain UniSA’s firm and continuing commitment to regional education and regional campuses,” Prof Lloyd said.

“In developing our Mount Gambier site, UniSA prioritised delivering as many courses as possible at the campus and this approach will flow through to the new university, ensuring regional campuses will continue to be embedded within the new university and continue to provide variety in the programs they offer.

“Should the creation of the new university proceed, the teaching programs of both universities will be completely overhauled to ensure the new Adelaide University has the highest-quality, most contemporary curriculum in the country.

“This will include a leading digital experience with more flexibility in course delivery, which will benefit students in many ways including providing more choice in how they learn.

“The curriculum will also align to SA’s priority industry areas, including agriculture, food and wine, and forestry, together with community needs.

“Combining the strengths of both universities will expand the expertise available to advance these priorities, including regional industries.”

Prof Lloyd said the State Government will contribute $100m to create an equity fund to support disadvantaged students of the new Adelaide University.

“This will be invested to directly support students who are disadvantaged in terms of access to university, or non-traditional entrants,” he said.

“Details are to be worked through, but we expect this investment to include supporting students with bursaries and grants.”

The State Government will also invest $200m into a research fund to support Adelaide University’s research initiatives.

South Australian Premier Peter Malinauskas said the new university will be the largest educator of domestic students in Australia and will have the scale and resources to be sustainably positioned in the top 100 in the world.

“This is a once-in-a-generation opportunity for our state and we are seizing it,” he said.

“We will sustainably have one of Australia’s best and top ranked universities here in our state.

“This is an idea which has been talked about for years and years.

“The time for talk is over, the time for action has arrived.”

Deputy Premier Susan Close said with its new contemporary curriculum, flexible entry requirements and learning aligned to the needs of industry and the professions, Adelaide University will put South Australia at the forefront of tertiary education in Australia.

“Adelaide University will teach more domestic students from a broader range of backgrounds to give young people a chance at a university education if that is what they want,” she said.

“It will create something truly special for South Australia.”

Both universities formally committed there will be no compulsory redundancies or retrenchment of staff as a consequence of the progressing the formation of the new university, in advance of its anticipated opening in January 2026 and for 18 months thereafter.

The State Government will now move toward introducing The Adelaide University Act 2023 to Parliament to establish the new university.