The new 'multi-dimensional' listing will rate universities according to a broader range of factors, in five separate areas: reputation for research, quality of teaching and learning, international orientation, success in knowledge transfer (such as partnerships with business and start-ups), and contribution to regional growth.

“U-Multirank” is the new university ranking set up with funding from the European Union, and launched under the Irish EU Presidency. The new 'multi-dimensional' listing marks a departure from traditional approaches to ranking university performance, most of which focus disproportionately on research excellence. The new ranking will rate universities according to a broader range of factors, in five separate areas: reputation for research, quality of teaching and learning, international orientation, success in knowledge transfer (such as partnerships with business and start-ups), and contribution to regional growth. In April 2012, MEPs also urged EU Member States to ensure universities are better funded.

The European Commission stressed that U-Multirank will also rate universities in four specific subject areas: business studies, mechanical engineering, electrical engineering and physics. The list of specific disciplines will be gradually expanded in future years, in addition to providing an authoritative ranking comparing institutions.

Some 500 universities from Europe and across the world are expected to sign up to take part in the ranking and the first results will be published in early 2014. An independent consortium will compile the ranking, led by the Centre for Higher Education (CHE) in Germany and the Center for Higher Education Policy Studies (CHEPS) in the Netherlands. Partners include the Centre for Science and Technology Studies at Leiden University (CWTS), information professionals Elsevier, the Bertelsmann Foundation and software firm Folge 3. The consortium will also work with national ranking partners and stakeholder organisations representing students, universities and business to ensure completeness and accuracy.