The Friends of the Daily Texan has made the first grant to The Daily Texan from the recently-created Innovation Fund, created to support a sustainable future, quality journalism and innovative work at the student newspaper at the University of Texas at Austin.

The initial grant was $1,300-plus for much-needed equipment to allow the staff to create multi-media more efficiently for the web.

“We are grateful to the FotDT for their continued partnership and support,” said Texas Student Media Director Gerald A. Johnson. “Prior to the Friends’ generous funding, the newsroom was sharing the personal equipment of the video editor. As we strive to catch up with digital and better serve our contingency, multi-media is key to our growth and learning process. The innovation fund allowed this need to move to position number 1 in the long line of needs. If I had video equipment at the time I announced the Friends’ gift, I would have loved to capture the sheer excitement in the newsroom.”

Friends of The Daily Texan is a non-profit organization formed in the spring of 2013 by a group of concerned alumni. The Daily Texan is known as one of the best student-run newspapers in the country, producing notable alumni like Walter Cronkite, and fulfilling an important watchdog role at the University of Texas.

But in recent times, the newspaper has struggled for survival, with its revenue and circulation dropping in half over five years.

As with the industry overall, it faces challenges transitioning to a profitable business model in a digital world, and the Friends group has that as a key part of its efforts to assist.

Through mentorship, fundraising, networking and public education, Friends of The Daily Texan works alongside current Texan staffers to continue the publication’s rich tradition of journalistic excellence into the future.

Projects funded by the Innovation Fund may be in print or in new technologies; they may be one-­shots or they may be as permanent, long-term efforts. Supporting the editorial quality, all platforms and financial stability are key items.

They shall reflect the creativity of “a University of the first class,” and they shall contribute to a secure financial future for the organization.

The Friends of The Daily Texan intends to raise a minimum of $50,000 for the Innovation Fund by Dec. 31, 2015. The first effort to this end is the Griff Singer Luncheon during the UT School of Journalism’s Centennial, honoring the beloved mentor of three generations of Texan staffers.