Media Sciences Gift Creates Young Entrepreneurs Fund at Lehigh
OAKLAND, N.J. — Media Sciences’ CEO Michael W. Levin has committed to a gift of 50,000 shares of Media Sciences common stock to Lehigh University, designated for the creation of the Undergraduate Engineer Entrepreneur Fund in the university’s P.C. Rossin College of Engineering and Applied Science. The gift will be made to the university over a period of three years.
Levin’s gift is part of Shine Forever: The Campaign for Lehigh, a $500 million campaign focused on raising endowment for faculty chairs, undergraduate scholarships, academic programs, and student life and athletics, to attract the finest students and faculty and continually enhance the quality and reputation of the university.
“The ability to innovate is the true value engineers bring to society,” said David Wu, Dean of the P.C. Rossin College of Engineering and Applied Science. “But it is important to recognize that innovation requires far more than technical know-how. Through the UEEF program, our students will gain new, important opportunities to grow as technical innovators ready to tackle the real-world challenge of creating business ventures. Mr. Levin’s gift will strengthen Lehigh’s long tradition of collaboration between engineering and business and our efforts in student entrepreneurship. The program will help to recognize the entrepreneurial spirit of our talented young engineers, motivate them to take risks, and help them to succeed.”
The UEEF supports the mission of the engineering school’s Integrated Product Development Program and affords students with successful projects from this program the chance to realize a promising business opportunity. Lehigh’s IPD program prepares students to lead companies in innovation, creativity and the commercialization of intellectual property.
“When engineering innovation is tested in a business context and shows marked potential, support like that of the Undergraduate Engineering Entrepreneur Fund can mean the difference between a great academic thesis and a new, promising business venture,” said Levin, a 1987 engineering graduate of Lehigh. “While I am pleased to be the UEEF’s founding donor, my sincere hope is that other successful entrepreneurs will recognize the value this Lehigh program brings to the business community and will want to invest in the success of this next generation of engineer-entrepreneurs.”
Levin founded the company that became Media Sciences International, Inc. in 1987 as a Lehigh undergraduate student.
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This article originally appeared in the February 2007 issue of Recharger.