The University of Strathclyde was established by Royal Charter in 1964, with a history dating back to 1796 and the founding of Anderson's Institute. The Charter sets out the power and functions of the University as well as identifying the key officers and committees within the University's structure. The University of Strathclyde is a public research university located in Glasgow, Scotland. Founded in 1796 as the Andersonian Institute, it is Glasgow's second-oldest university, with the university receiving its royal charter in 1964 as the UK's first technological university. It takes its name from the historic Kingdom of Strathclyde. The University of Strathclyde is Scotland's third-largest university by number of students, with students and staff from over 100 countries. The institution was awarded University of the Year 2012 and Entrepreneurial University of the year 2013 by Times Higher Education. The annual income of the institution for 2017–18 was £304.4 million of which £68.9 million was from research grants and contracts, with an expenditure of £304.0 million. Entry into many of the courses in the university is competitive