The new institute will be under the direction of the chair of Macromolecular Chemistry, which will in the future carry the name WACKER. WACKER will finance the new institute completely for at least six years and also help to finance the WACKER chair. The chemicals group has earmarked €6 million for this purpose. The funds will be used for research projects and grants, and for research and project-related purchases. Potential beneficiaries of institute grants will include some 50 doctoral candidates.