Penn State Altoona receives $100,000 gift for entrepreneurship program

July 25, 2008

University Park, Pa. -- Penn State Altoona has received a $100,000 gift, from a donor who has requested anonymity, to create an endowment for the entrepreneurship program.

The Pipeline Endowed Enhancement Fund for Innovation will provide dependable support for initiatives in the Division of Business and Engineering for which there are no budgeted funds. These might include research projects and collaborations, the testing of novel teaching approaches, and new courses and programs, according to Penn State Altoona Chancellor Lori J. Bechtel-Wherry.

"This truly is a gift that will have an immeasurable impact on the lives of students and the communities in which they will later reside as leaders in business," she said. "I wish to express appreciation to the donor on behalf of the entire Penn State Altoona family."

Penn State Altoona is the only campus in the University where a student can choose entrepreneurship as his or her concentration of study within the business program. The entrepreneurship program aims to bolster students' skills in problem-solving, teamwork, effective communication, and other areas applicable to any business setting.

Students who have other academic interests also can become involved in the program through the entrepreneurship minor, since entrepreneurial approaches can have an equally profound impact in education, technology, and other sectors represented by the campus' degree programs.

Penn State Altoona faculty inspire students to develop fully as entrepreneurs-to seize opportunities, convert concepts into patents, launch successful businesses, and become great leaders, managers, and innovators in society, noted Bechtel-Wherry.

"This generous act of philanthropy is vital to the success our students will experience in the classroom and as productive members of society," she said. "In perpetuity, the Pipeline Endowed Enhancement Fund for Innovation will stand as a fitting tribute to the donor's commitment to Penn State Altoona, higher education, and society."

Endowed gifts provide perpetual funding. The University invests such gifts and uses a portion of the annual income for the purposes designated by the donor. Remaining income is returned to the principal to protect it from inflation and ensure future growth.

 

(Media Contacts)

Last Updated March 19, 2009