US: Stanford receives $150 million to fight poverty

Stanford University's Graduate School of Business has received a $150 million gift, one of the largest in the university's history, to create an institute to alleviate poverty through entrepreneurship, writes Sue Dremann for Palo Alto.

The gift from Dorothy and Robert King of Menlo Park was inspired by 40 years of hosting international students in their home. As hosts, the Kings saw the impact that education and entrepreneurship can have on individuals, they said in a Stanford announcement.

The funding will create the Stanford Institute for Innovation in Developing Economies, which will help develop entrepreneurship in countries where the per capita income is less than $1.25 per day. An estimated one billion people worldwide live at that level, business school officials said.
Full report on the Palo Alto site