A coalition of prominent business people, scientists and academics, the Committee for Melbourne was formed in 1986 to assert Melbourne's role as one of the great capital cities of the world. Founding members, who perceived that Melbourne was losing its place as Australia's business and cultural centre, persuaded many companies and prominent individuals to join. Their membership fees have financed many projects identified by the Committee as essential for improving Melbourne. These include promoting the privatisation of Melbourne Airport, the development of the Docklands area and the CityLink Project, and the marketing of Victoria as a centre of excellence in education, science and technology.