The elite Swiss Federal Institute of Technology in Zurich (ETHZ) will receive CHF40 million from Switzerland’s biggest bank to promote entrepreneurship and build infrastructure.
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Banco UBS doará 40 milhões para a maior universidade suíça
The money (around $41.5 million) will be invested over a period of 10 years, according to an announcement on Thursday.
“With this partnership, we aim to boost the long-term development of entrepreneurship and innovative capabilities in Switzerland, and to promote the next generation of entrepreneurs,” said Sabine Keller-Busse, president of UBS Switzerland.
Half the sum will be spent on two initiatives: helping young entrepreneurs set up businesses and encouraging school pupils to gravitate towards mathematics, informatics, natural sciences and technology.
The other half of UBS’ largesse will go towards the construction of a new building on ETHZ’s Hönggerberg campus in Zurich. The new building is meant to be a place where young entrepreneurs can work together on joint projects and share ideas with experts and executives.
“By combining our expertise in teaching and research with the well-established economical know-how and networking capabilities of UBS, we can advance Switzerland as a business location,” said Joël Mesot, President of ETHZ.
Ten years ago, UBS’s sponsorship of the University of Zurich’s Faculty of Economics to the tune of CHF100 million caused a stir. Observers and representatives of the academic world questioned the independence of teaching and research in a sponsored setup.
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