University of Minnesota's Institute of Technology Receives $10 Million Bequest

Contact: Rhonda Zurn, Institute of Technology, (612) 626-7959
Mark Cassutt, University News Service, (612) 624-8038

MINNEAPOLIS / ST. PAUL (9/25/2006) -- The University of Minnesota Institute of Technology announced today that it has received an anonymous $10 million bequest. The deferred gift will be used to set up a permanent endowment to fund graduate student fellowships in the Institute of Technology, the university's college of engineering, physical sciences and mathematics.

The university estimates that the endowment will fund about 15 to 25 graduate fellowships each year to help graduate students pay for education and living expenses.

"This generous gift is a critical step in securing the future of the Institute of Technology," said Steven Crouch, dean of the Institute of Technology. "Through these fellowships, we will be able to maintain our stellar reputation and continue to attract the best and brightest graduate students. These graduate students are a key part of the research engine that drives our university."

Crouch pointed to recent research within the Institute of Technology resulting in new medical devices, nanotechnology advances in the pharmaceutical industry, possible fossil fuel alternatives and sensors and robotics used to improve homeland security.

"Our faculty and staff are driven to discover, but their research is dependent upon them working with top graduate students," Crouch said. "We thank this donor for recognizing the work we are doing here and for supporting our continued success."

"This gift will make the U of M more attractive to the most talented and creative students -- women and men who have many options for their graduate education," said University President Robert Bruininks. "Attracting these high potential students will be key to our aspirations to become one of the top three public research universities in the world. They also will be focused in areas that many observers, including the National Academies and the Business Roundtable, have identified as critical to our country's ability to compete in a global economy."

The Institute of Technology currently enrolls about 2,500 graduate students. Student support in the form of fellowships and scholarships continues to be a top fundraising priority within the Institute of Technology and the University of Minnesota.

Back to News About Giving to the U