The University of Venice, also known as the Oriental University of Venice, was founded in 1868 by Edward Deodati, acting governor of Venice, and a number of colleagues as a business school, marking the original birth of the University of Venice. The faculty is located in the unique water city of Venice in the world. The University of Venice has a long tradition of business and economics. The University has a Faculty of Economics, a Faculty of Foreign Languages and Literatures, a Faculty of Arts and Philosophy, a Faculty of Science, and a common teaching and research center among the faculties.