Bloomberg News

Qualcomm’s Jacobs Gives UC Berkeley $20 Million for Innovation

June 13, 2013

The University of California, Berkeley, received $20 million from the foundation of Paul Jacobs, chairman and chief executive officer of Qualcomm Inc. (QCOM:US), to establish an innovation institute.

The funds from the Paul and Stacy Jacobs Foundation will let Berkeley’s College of Engineering plan the institute’s educational agenda and expand the role of design in engineering education, according to a statement on the website of the Berkeley, California-based university.

“Manufacturing will be a key focus of our proposed Jacobs Institute for Design Innovation,” Shankar Sastry, dean of the College of Engineering, said in the statement. “We want to provide our student innovators with opportunities to scale up their inventions and produce them efficiently and sustainably.”

Berkeley is conducting a drive to raise $3 billion to support its students, faculty, research and other programs by the end of 2013. Paul and Stacy Jacobs, who each hold three degrees from Berkeley, are both co-chairs of the campaign.

To contact the reporter on this story: John Lauerman in Boston at jlauerman@bloomberg.net

To contact the editor responsible for this story: Lisa Wolfson at lwolfson@bloomberg.net


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Companies Mentioned

  • QCOM
    (QUALCOMM Inc)
    • $75.53 USD
    • -0.91
    • -1.2%
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