PROPERTY tycoon and Singapore Chinese Chamber of Commerce and Industry president Chua Thian Poh (pictured) gave $5 million yesterday to the Nanyang Technological University (NTU) to set up an entrepreneurship education fund.
The gift will be matched dollar-for-dollar by the Government.
The $10 million kitty will fund overseas immersion programmes for NTU master's students in technopreneurship and innovation, facilitate visits of successful entrepreneurs to the university for lectures, support a fellowship for enterprising faculty members and help develop a university-wide entrepreneurship education programme.
'I hope that this fund will be useful in nurturing an orchard of opportunities to help groom talent for local enterprises,' said Mr Chua, who is chairman and chief executive of property developer Ho Bee Group.
This is his first donation to the university.
NTU president Su Guaning said the gift served to 'light a fire' for entrepreneurship development. 'We will need to raise more, but as the lead gift, Mr Chua's is the most important.'
He added that NTU would sign a memorandum of understanding next month for the university to become the first Kauffman Campus in Asia.
The Kansas-based Ewing Marion Kauffman Foundation funds entrepreneurship research, development and education programmes in the United States.
Universities like Washington University in St Louis, Purdue University and Georgetown University are among its Kauffman Campuses, which receive grants to train their students in entrepreneurship.
While its Constitution prohibits funding universities outside the US, the foundation will provide advice on designing NTU's entrepreneurship education programmes, Dr Su said.
GRACE CHUA
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