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The University of Austin, established last year as a free speech alternative to other colleges, has raised more than $100 million, thanks to donors who are concerned about America's future and global standing, Peter Boghossian, a founding faculty member, told Fox News.

"For the donors, this is not just a matter of, 'Oh, let's give people an alternative to a broken educational system and help them live better lives,'" Boghossian said. "There are larger economic issues at play as well."

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"This is an issue of global competitiveness," he added, warning that China's dedication to meritocracy will ultimately give the authoritarian nation an advantage over the U.S.

The University of Austin was founded in November 2021 on the principles of "freedom of inquiry, freedom of conscience and civil discourse," its website states. The nascent institution doesn't yet offer degrees but plans to hold its grand opening in 2024.

"The University of Austin came into being as a result of the ideological capture of American universities," Boghossian said. "And it was a particular ideology promulgated by people on the far left. Sometimes it's called ‘woke ideology.’" 

"The solution …  to left-wing ideological capture of our institutions is not a right-wing institution," he continued. "It's a truth-seeking university."

WATCH BELOW TO HEAR BOGHOSSIAN DISCUSS THE UNIVERSITY OF AUSTIN'S FOUNDING:

UNIVERSITY OF AUSTIN DEDICATED TO FREE SPEECH WILL COUNTER COLLEGES ‘HIJACKED BY MANIACS,’ FOUNDING PROF SAYS

The University of Austin has organized limited programs in Dallas — including one Boghossian called "forbidden classes" — while it waits to break ground on newly acquired property in Austin.

"The forbidden classes program are held in person," he said. "It's a class where diverse views, actually people who hold different opinions, are presented about topics we wouldn't or couldn't or shouldn't even talk about."

"If you have a sincere question, you're welcome to ask that, even if some people may be offended by that question," Boghossian told Fox News.

One recent forbidden class, for example, hosted a debate on gender ideology between trans economist Deirdre McCloskey and Kathleen Stock, "who is fighting trans ideology, not trans people," Boghossian said

The faculty fellow said he contributed to the June 2022 forbidden classes program and found himself engaged in extended discussions with students after class.

BARI WEISS AMONG FOUNDING BOARD OF ADVISERS FOR NEW UNIVERSITY THAT REJECTS ‘ILLIBERALISM’

student in library

Some University of Austin donors are concerned about the academic competitiveness of the next generation, Boghossian says. (Brandon Bell/Getty Images)

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"They wanted to have spirited conversations about, you know — I would say one thing, like, 'I personally believe that there are moral facts,'" Boghossian told Fox News. "And so we spent hours and hours on the bus, in the classrooms, talking about whether or not there are moral facts and what that means."

Boghossian resigned from his position as an assistant philosophy professor at Portland State University in September 2021. He told Fox News's Tucker Carlson shortly afterward that the institution created conditions that effectively hindered his teaching.

To hear more of Boghossian discussing the University of Austin's first year, click here.