ParisTech the Paris Institute of Technology is one of the collegiate universities in France. It gathers 11 of the best French engineering schools, covering nearly the whole spectrum of engineering science, and 1 business school, aiming to be of comparable status to the most famous universities of technology around the world. It is equivalent to Oxbridge graduates in England or the Ivy League in the United States. In 1991, many prestigious engineering Grandes Écoles felt the need to set up a coordinating voluntary association, called "Grandes écoles d'ingénieurs de Paris", that would foster closer collaboration among themselves in areas of common interest and thereby acquire international recognition as an entity of sufficient size and importance. In 1999 its name was changed to "ParisTech". In 2007, its status changed to a public establishment for scientific cooperation (établissement public de coopération scientifique). It is headed by a President, assisted by an executive bureau and a secretary general, and administrated by a board of directors, assisted by a strategic orientation council and a scientific council.