Michigan State University has received a $1 million endowment from the Forest Akers Trust to fund entrepreneurial grants for undergraduates across all programs.
According to excerpts from the article:
If it weren't for a $5,000 grant, Sam Goodsitt probably would have filed away his idea for a hybrid home generator.
But with the help of the grant, the 22-year-old Michigan State University student is working with professional engineers to create a prototype for the wind and solar-powered generator.
Goodsitt was the recipient of an entrepreneurship grant through a $600,000 endowment established last year by the Midland-based
Rollin M. Gerstacker Foundation.
MSU liked what it saw with that endowment, so it went after more money. The Forest Akers Trust answered the call with a $1 million endowment to provide students with grants of up to $5,000.
The Akers endowment is open to students in all fields, while the Gerstacker endowment is focused on the areas of science, technology, engineering and mathematics.
The combined $1.6 million should generate about $80,000 in interest earnings each year for student grants and programming.
Read the entire article
here.
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