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Auckland University gifted $5 million

NZ Newswire logoNZ Newswire 15/11/2016

University of Auckland © Chameleons Eye/REX Features University of Auckland Auckland University will be the beneficiary of $NZ5 million in donations from a Hong Kong-based charitable organisation.

The Li Ka Shing Foundation is gifting the money to the university's Campaign for All Our Futures to promote innovation and entrepreneurship.

It also aims to encourage philanthropy by incorporating a $1 million dollar-for-dollar matching challenge for donations from alumni and other supporters in the Greater China region.

Entrepreneur and philanthropist Mr Li Ka-shing, whom Forbes lists as the richest person in Hong Kong, established the foundation in 1980.

"New Zealand has always been one of my favourite destinations, a country blessed with spectacular mountains and sparkling lakes, easy going and innovative people," Mr Li said.

"I wish this University of Auckland's campaign effort and creative collaborations in the future to be a resounding success."

The $4 million earmarked for innovation and entrepreneurship will be used primarily to create the Li Ka Shing Innovation Fund to support teaching and research.

Vice-chancellor Professor Stuart McCutcheon said the foundation's generosity would help the university "to further develop the radical innovation needed for New Zealand to thrive in a dynamic global economy".

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