Technion gets $1 billion from US supporters

University secures its place as a leading global institution.

lena peretz lavie 311 (photo credit: Yoav Bachar)
lena peretz lavie 311
(photo credit: Yoav Bachar)
The Technion – Israel Institute of Technology has secured its position as a leading global university with the help of a $1 billion fundraising effort by The American Technion Society.
“This major achievement is a testimony to the dedication of our American supporters,” Prof. Peretz Lavie, president of the Technion, told The Jerusalem Post Tuesday.
“Especially taking into account the economic crisis, the achievement is mindboggling.”
In recent years, the Technion has made a name for itself in the fields of nanotechnology, computer science, biotechnology, water resource management, materials engineering, aerospace and medicine. With the funds from ATS, the university has constructed major research centers and teaching facilities, as well as provided thousands of students with scholarships and fellowships.
As technology expertise becomes increasingly important in this hi-tech age, Lavie said, the Technion has transformed from an Israeli to an international institution.
“The Technion is perceived not only as an Israeli institute, but as a world innovator,” he said. “Our graduates are the backbone of the hi-tech industry… You cannot talk about the hi-tech industry in Israel without talking about the Technion.”
The historic “Shaping Israel’s Future” campaign, which has spanned 13 years, sets the record for the largest amount of funds ever raised by an American organization for Israeli higher education, according to ATS.
Looking to the future, Lavie is concerned about how the economic crisis will effect future ATS efforts.
“I believe we are facing tougher times,” he said.
“The economic crisis will have an impact and we will see some decline in commitment...
Now is the time that the government gets involved.”