| April 2000
U Announces New
Fund to Match Gifts for Graduate Fellowships
The University of Minnesota today announced
that a new endowment fund has been created
to provide a match for private gifts for
fellowships. The new fund, called the
21st Century Graduate Fellowship Endowment,
is made possible as a result of the university's
licensing agreement for an AIDS drug with
Glaxo Wellcome PLC, a pharmaceutical company.
The fund will double the impact of gifts
of $25,000 or more that are designated
for graduate fellowship endowment. Raising
funds for fellowship support is a key
priority for Campaign Minnesota, the university's
$1.3 billion fund-raising campaign
The fund will match gifts supporting fellowships
in the 150 Graduate School programs, which
enroll nearly 7,500 students. Graduate
students are critical to university research
programs as they assist faculty in all
aspects of research including conducting
experiments, doing field research, and
teaching to facilitate the movement of
ideas from the lab to the marketplace.
The fund is estimated to grow to $50 million
over the next ten years.
The endowment will be created through royalties
generated by worldwide sales of Ziagen,
an AIDS drug. Professor Robert Vince led
a research team that developed and patented
the discovery that was licensed to Glaxo
Wellcome.
More details on the 21st Century Graduate
Fellowship Endowment.
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