The University of Strathclyde has received a £ 50 million donation from alumnus Charles Huang PhD through its philanthropic foundation – the greatest gift Strathclyde has ever received.
Dr. Huang earned his MBA from Strathclyde in 1989 and a PhD in marketing in 1994. He is a global business leader and the founder and chairman of Pasaca Capital Inc, a California-based private equity firm founded in 2016 with a global focus on investing in innovative technologies and products.
The donation is a token of gratitude to the United Kingdom for the fellowship that Dr. Huang provided the opportunity to train at Strathclyde, and he would also like to honor Professor Stephen Young, a former director of marketing and Dr. Huang’s supervisor and mentor during his doctoral studies.
“I arrived at the University of Strathclyde on a British Council International Student Fellowship for my MBA in August 1988 and I am forever grateful to the UK for this life-changing opportunity,” said Dr. Huang. “My apprenticeship at Strathclyde has been instrumental in the success of my career and my company. This gift is intended to show my gratitude to Strathclyde and to support those who are not yet beginning their studies.”
The gift will allow the university to expand its collaboration with business, industry and the public sector to meet the great challenges of our time, develop the next generation of students and help Scotland and the UK recover from the pandemic.
In addition, £ 30m of the transformative donation will help build a new building named after Dr. Charles Huang, in the University’s Technology and Innovation Zone in the heart of the City of Glasgow’s innovation district. The remaining £ 20 million will enable the formation of the Stephen Young Institute for International Business, the Stephen Young Global Leaders Scholarship Program and the Stephen Young Entrepreneurship Awards, all of which are business start-ups and business support.
The gift was officially presented today at a ceremony on the university campus.
Professor Sir Jim McDonald, Rector and Vice Chancellor of the University, said: “We are Dr. Charles Huang is incredibly grateful for this extraordinarily generous gift. A donation of this magnitude will make a huge difference to our students, our research, and our innovation.
“The University of Strathclyde has been changing lives for more than 200 years and it is a very momentous moment to see one of our own returnees to support future generations.
“Charles’ generous donation will also have a tremendous impact on Glasgow and Scotland as we build the next phase of our technology and innovation zone, which will create jobs, attract industrial partners and foreign investment, and nurture future generations of graduates and PhD students.
“For Charles, celebrating the impact Strathclyde has had on his career, this is very special for the entire university community. By highlighting the role Professor Stephen Young had in shaping his future, Charles shows how inspiring teaching and support can make a positive mark for decades to come. “
A pioneer in marketing, Professor Young helped establish the University’s Department of Marketing – one of the first in the UK – in 1971. He passed away very sadly in August of this year.
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One of Pasaca’s most successful recent companies is Innova Medical Group, which developed the rapid lateral flow tests that are an integral part of many COVID-19 testing programs around the world, including in the UK.
Professor David Hillier, Dean of Strathclyde Business School, said, “We are incredibly grateful to Dr. Huang for his support and the donation will revolutionize the way we work at the business school. Professor Stephen Young inspired generations of students and this gift will make it possible for the university , create new opportunities for future generations. Stephen’s name will live on thanks to the generosity of Charles. “
Professor Young’s daughter Juliette Young said, “We are delighted that our late father’s distinguished academic career and legacy is being promoted through the Professor Stephen Young Institute for International Business, the Professor Stephen Young Global Leaders Scholarship Program and the Professor Stephen Young Entrepreneurship further honored awards.
“We would like to thank the Charles Huang Foundation for commemorating our father in this way.”