For 51-year-old Shi Yigong, there is nothing like a dream to create the future. And it took him only three years to make his dream come true – launching an advanced research university, starting from scratch.

"I've always believed one man should accomplish at least one major deed throughout his life. As for me, Westlake University will be my deed in my life," said Shi, talking to reporters at the construction site of the future Yungu Campus, the main campus of Westlake University, China's first private university aimed at cultivating high-level talent in advanced technology and scientific research.

The project, which officially broke ground on Tuesday, involves a total investment of 3.68 billion yuan ($585 million). The 99.6-acre campus is in the Shuangqiao section of Hangzhou's Xihu district Construction is expected to be finished by 2021, and 1 billion yuan in investment is planned for this year.

The Ministry of Education approved the launch of the university on Monday, marking a milestone in its construction and development history.

Shi, a Princeton University-trained molecular biologist and president of the Westlake Institute for Advanced Study, is reportedly planning to accept an offer to be the university's first president.

In Shi's mind, Westlake will be a small but versatile research-oriented university, starting at a high level – nurturing doctoral degree students within the next five to six years.

"We want to foster outstanding, research-oriented students under the teaching and guidance of cutting-edge academics, creating the world's leading scientific and technological results," the confident Shi said. 

He said actually there are many modes for higher education worldwide, and although most universities start with a bachelor's degree-level of education, education, there also are many that feature and excel in education centered on master's and PhD degrees.

"Take the New York-based Rockefeller University, for example, it has always focused on above-master's degree education since its launch in 1901," Shi explained.

"With key support from the nation, and support from both the public and society, I believe it will eventually be a success," Shi concluded.