Harvard University receives $50m from MBA alumnus Len Blavatnik
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Len Blavatnik, the billionaire music and media entrepreneur, has given Harvard University $50m to help convert biochemical research into medical therapies and promote entrepreneurship at the University. The gift has been given through the Blavatnik Family Foundation.
Mr Blavatnik, who graduated from Harvard Business School in 1989, has been active in endowing arts and science projects in both the US and UK. In 2010, he committed £75m to establish the Blavatnik School of Government at the University of Oxford.
Mr Blavatnik said he hoped the establishment of Blavatnik Biomedical Accelerator would help develop closer links between the science departs and the business school. “By increasing the collaborative efforts between Harvard Business School and Harvard’s scientific community, we will empower the next generation of life science entrepreneurs and provide a further catalyst for innovation and research development.”
Part of the gift will be used to create the Blavatnik Fellowship in Life Science Entrepreneurship at HBS, to give MBA students experience in entrepreneurial activities in the life science.
The accelerator will be housed in Harvard’s Office of Technology Development.
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