Cardiff University is a big and strong business and is ready to face the financial challenges presented by the cuts in the Welsh government's budget for 2013-14, Professor Hywel Thomas told members of the Finance Committee on 17 October 2012.
The university is already looking to develop other business lines to make money in light of the UK and Europe's financial situation.
Professor Thomas explained how many companies were created from the university including a company from the school of engineering which looks at mobile phones and their batteries.
Perceptions of the university are changing too as Professor Thomas found on a recent visit to China that industries as well as the universities now wanted to work alongside Cardiff University.
Concerns were raised however about the possible reduction in research funds from HEFCW as Professor Thomas described this budget as the "foundations of the house".
"If there is any danger that it may be lost it's a big worry for us," said Professor Thomas, "it's the underpinning money that comes in to provide for a certain level of resourceful research."
David Jones, Principal of Deeside College and Colegau Cymru's John Graystone also attended the committee along with Gwyn Jones from Ceredigion Council and Mark Owen from Wrexham County Borough.
Read this in Welsh.