Founded in 1869, the University of Otago is New Zealand's oldest and finest university. Most teaching takes place on the Dunedin campus and the majority of the University's 20,000 students have come from outside the Dunedin area to enjoy the unique lifestyle in New Zealand's only true student city. Research excellence underpins academic activity at Otago and a strong research culture is fostered across all four divisions – Business, Health Sciences, Humanities and Sciences. This was highlighted by Otago's success under the New Zealand Government's 2012 Performance-Based Research Funding (PBRF) quality evaluation, which confirmed Otago's position as the leading research institution in New Zealand. Otago is at the forefront of modern scholarship and has a long-established tradition of innovation. It is for this reason Otago is able to attract first-rate academics, and our graduates are renowned for their independence and audacity of spirit.