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$300 million gift to MO higher ed will support innovation and entrepreneurship

October 15, 2020

In the largest single gift in the history of Missouri higher education, $300 million has been donated to support Missouri S&T that will enable the university to establish a new school of innovation and entrepreneurship, among other things. The benefactors are St. Louis businessman Fred Kummer, a graduate of the school who credited the education he received there with his success, and his wife.

The Kummers’ gift will be channeled into a new not-for-profit foundation that will support several new initiatives at Missouri S&T including:

  • The Kummer School of Innovation, Entrepreneurship and Economic Development, a new school within the university that will combine business-related academic programs with new programs related to innovation and entrepreneurship at the bachelor’s, master’s and Ph.D. levels. 
  • A new, independent, university-affiliated R&D entity that will include four new research centers focused on infrastructure, advanced manufacturing, artificial intelligence and autonomous systems, and environmental and resource sustainability. This new entity will serve as the university’s node for partnerships with industry, public and private research foundations, and governmental agencies to stimulate business innovation, provide corporate research and development, and develop prototypes for new products.
  • Other new programs and enhancements, including scholarships and fellowships for high-achieving undergraduate and graduate students; expansion of Missouri S&T’s online degree programs; new research faculty positions; expansion and renovation of existing structures; construction of new buildings and labs; and greater community outreach.
Missourihigher ed, innovation, entrepreneurship