Grateful former student gifts £50m to Strathclyde
Charles Huang and Sir Jim McDonald
A grateful former student has gifted £50 million to Strathclyde University as a thank you for his education.
Charles Huang, who studied for a PhD in Glasgow, made the generous donation through his philanthropic foundation. It is the largest gift that Strathclyde has ever received.
It said it will enable it to grow its work with business, industry and the public sector, develop the next generation of students, and support Scotland and the UK’s recovery from the pandemic.
The university said Dr Huang has made the donation in recognition of the educational opportunities he received in the UK and to honour the late Professor Stephen Young, a former head of Strathclyde’s Department of Marketing who was his supervisor and mentor during his PhD studies.
Dr Huang gained his MBA from Strathclyde in 1989 and his PhD in Marketing in 1994. He is the founder and chairman of private equity company Pasaca Capital Inc.
Its ventures include the Innova Medical Group which developed the rapid lateral flow tests which are the integral to many COVID-19 testing programmes around the world, including in the UK.
He said: “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.”
The university said £30m will support the construction of a new building named after Dr Huang in the University’s Technology and Innovation Zone in Glasgow’s Innovation District.
“The remaining £20m 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, all of which will stimulate business creation and support the economy.
Professor Sir Jim McDonald, the university’s Principal and Vice-Chancellor, 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.
“For Charles to celebrate the impact that Strathclyde made on his career makes this very special to the entire University community.
“In highlighting the role that Professor Stephen Young had in shaping his future, Charles is demonstrating how inspirational teaching and support leaves a positive mark for decades to come.”