Gifts and Donations

Institutions announce new sources of funding.

The University of Toronto’s Rotman School of Management in Ontario, Canada, has received several recent gifts for key initiatives. The Government of Canada has announced a CAN$26 million (US$19.94 million) investment in the school’s Creative Destruction Lab, a seed-stage program for massively scalable, science-based companies. Rotman also announced $4 million in new funding from TD Bank Group. Some of the money will support the TD Management Data and Analytics Lab, a key resource for students in Rotman’s new master of management in analytics. TD Bank also announced financial support for the health stream initiative at the Creative Destruction Lab, as well as support for the research center known as Behavioural Economics in Action at Rotman (BEAR).

The Wharton School at the University of Pennsylvania in Philadelphia has announced a US$25 million gift from the AKO Foundation, an arm of AKO Capital, which was founded by alum Nicolai Tangen. The donation was made at the recommendation of Tangen and his wife, Katja. The gift will spearhead construction of a new 70,000-square-foot building to be named Tangen Hall, which will become a dedicated space for cross-campus student entrepreneurship at the university.

The College of Business at Clemson University in South Carolina has received a US$2.5 million gift from Ben and Chari Phyfer. Of this gift, $380,000 will create the Phyfer Innovation Hub.