The International Centre for Technology in Douglas could be worth millions to the economy if given the go-ahead.
The Manx Educational Foundation is still seeking the final £2.5million for work to officially start on the new university.
It would ultimately cater for 2,000 ICT students and transform the Castle Mona on Douglas promenade into one of Europe’s leading institutions.
Detailed plans were revealed at a conference last week and doors could open by September next year if the money is found.
David Butterworth of the charity says the centre would change the lives of many Manx students:
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