Northeastern University announced today that it is launching a campaign to raise $1 billion by 2017, according to a statement on the university’s website.

The university said in the statement that it plans to fundraise $500 million in philanthropic donations and $500 mil­lion through gov­ern­ment and industry part­ner­ships.

The “Empower” campaign will fund university-wide initiatives, particularly new co-op and research oppor­tu­ni­ties for stu­dents.

“This his­toric cam­paign is about people empow­ering people,” Pres­i­dent Joseph E. Aoun said in the statement. “Since 1898, we have cham­pi­oned inno­va­tion, entre­pre­neur­ship, ser­vice, and the inte­gra­tion of study and real world experience—a tra­di­tion rooted in our co-op pro­gram. Today these values are reflected in our global experiential education oppor­tu­ni­ties and use inspired research. Northeastern’s momentum has been extra­or­di­nary, and the best is yet to come.”