The Stanford Graduate School of Business has established the Stanford Institute for Innovation in Developing Economies with a $150 million gift from Dorothy and Robert King, MBA ‘60. The gift is among the largest ever to Stanford University. The institute’s aim is to stimulate, develop and disseminate research and innovations that enable entrepreneurs, managers and leaders to alleviate poverty in developing economies.
The donation will seek to “stimulate and spread research and management techniques for healthcare, transportation, agriculture, banking, communications and other sectors in poor countries.” Entrepreneurs, social entrepreneurs, managers and leaders in Africa, Latin America and in other developing economies will be educated to relieve poverty through effective leadership and problem-solving.
Stanford faculty and students will be expected to work to support local groups in Africa, Asia, Latin America and other regions.
The institute’s work is based on the belief that a critical route for economic growth is through the creation of new entrepreneurial ventures.