A £50 million donation to the University of Strathclyde from a former student is to be used to support the construction of a new building on campus.
Charles Huang PhD made what the Glasgow-based learning institute confirmed is the biggest donation it has ever received in honour of the late Professor Stephen Young.
Professor Young was mentor and supervisor to Mr Huang during his time studying his PhD in marketing at the university in 1994.
After graduating, he went on to found California-based private equity firm, Pasaca Capital Inc, which has a global focus on investing into innovative technologies and products.
The university confirmed that £30 million of the donation will support the construction of a new building named after Mr Huang in its technology and innovation zone in the heart of the Glasgow City Innovation District.
The remaining £20 million will enable the creation of The Stephen Young Institute for International Business, The Stephen Young Global Leaders Scholarship Programme and The Stephen Young Entrepreneurship Awards.
Mr Huang commented, “I came to the University of Strathclyde for my MBA in August 1988 under a scholarship from the British Council for international students and I’m forever grateful of the UK for that life-changing opportunity.
“My education at Strathclyde played a critical role in the success of both my career and my businesses. This gift is to show my gratitude to Strathclyde and to support those who have yet to embark on their studies.”
Professor Young’s daughter, Juliette Young, added, “We are delighted that our late father’s outstanding academic career and legacy will be further recognised through the Professor Stephen Young Institute for International Business, the Professor Stephen Young Global Leaders Scholarship Programme and the Professor Stephen Young Entrepreneurship Awards.
“We would like to express our gratitude and thanks to the Charles Huang Foundation for remembering our father in this way.”
Professor Sir Jim McDonald, principal and vice-chancellor of the University of Strathclyde, said, “We are incredibly grateful to Dr Charles Huang for this exceptionally generous gift. A donation of this scale will make a huge difference to our students, our research, and our innovation.
“The University of Strathclyde has been transforming lives for more than 200 years and to see one of our own return to support future generations is a very significant moment.
“Charles’ generous gift will also have an enormous impact on Glasgow and Scotland with the construction of the next phase of our Technology and Innovation Zone, which is creating jobs, attracting industrial partners and inward investment, and developing future generations of graduates and postgraduates.