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Home / MIT Successfully Concluded 'Campaign For A Better World', Raised Over $06 Billion For Innovation

MIT Successfully Concluded 'Campaign For A Better World', Raised Over $06 Billion For Innovation
MIT’s Campaign Better World has managed to raise more than $6 billion to spark innovation...

by Himani Verma / 18 Oct 2021 15:55 PM IST / 0 Comment(s) / 41

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MIT’s Campaign Better World has managed to raise more than $6 billion to spark innovation on the world's pressing challenges.

On 30th September 2021, the Massachusetts Institute of Technology (MIT) announced its Campaign for a Better World. This campaign has raised more than $6.24 billion to support the work of the Institution on some of the global most pressing challenges.

A total of 112,703 organizations and individuals had contributed to the MIT campaign. Better World was publicly launched in the year 2016. And it formally ran from July 2011 to June 2021. Of all the donors, 64% were MIT Alumni. Also, more than 56,000 donors had made their first gift to the Institute during the campaign. In early 2019, MIT had increased the campaign’s fundraising goal to $6 billion from the original $5 billion.

Words of President and Vice President:

“Everywhere I traveled throughout the campaign, I was struck by the energy and enthusiasm of our alumni and friends and by how deeply the ‘better world’ theme resonated with them,” says President L. Rafael Reif. He also thanked the donors for showing enthusiastic generosity at every scale. The campaign Better World has already made progress towards some of the most urgent global challenges.

The Vice president of MIT Resource Development, Julie A. Lucas, says “Philanthropy is a powerful change-maker.” She also noted that their donors want a moonshot, world-shaking ideas that can change a life. It’s like when the machine-learning model plays a vital role in developing a vaccine. They do these things by ensuring the Institute has the resources to meet unexpected opportunities, natural talent and pursue bold ideas.

Strengthening MIT At Its Core

Scholarships are the foundation of the Institute’s commitment to need-blind UG admission and a component of MIT’s ability to provide a full range of support for students who have earned their place at the institution. MIT raised $239 million for scholarships during the campaign Better World. This is an increase of 36% compared to the prior decade.

Moreover, $531 million was raised toward fellowships for the Institute’s undergraduate students, an increase of 105% over the prior decade. It includes 100 undergraduate companionships in the School of Science and Engineering created by the mathematical computing software company MathWorks, co-founded by Jack Little ’78.

Ninety professorships were created during the campaign to empower MIT’s faculty and tap the full potential of rising stars of the Institution.

Also, there is an increase of 67% compared to the previous decade in unrestricted giving to MIT. It is due to the friends and alumni showing their confidence by making gifts of critical resources. It can be directed where the Institute’s community most needs these resources. This funding helped vital supply equipment, advance early-stage ideas, supplement financial aid and renew existing buildings.

Chancellor for academic advancement, W. Eric L. Grimson, and Professor of Medical Engineering, Bernard M. Gordon, said that the institute is like a singular magnet for science and technology talent around the globe. Now they have sources to leverage the creativity of the Institute’s faculty and students in tackling the significant problems of the world.

Advancing Problem Solving and Discovery

The researchers of the institute are unlocking the brain's secrets and exploring the usage of AI (Artificial Intelligence) to improve health. Also, the scientists of MIT, supported by the campaign, has

  • built on decades to advance mRNA vaccines to battle Covid-19

  • scanned space beyond our solar system in search of planets

  • reached across disciplines to immerse the era’s defining challenge, climate change

According to Maria Zuber, MIT’s vice president for research and the E. A. Griswold Professor of Geophysics, the Massachusetts Institute of Technology needs to remain the preeminent institution where engineers, policymakers, researchers, entrepreneurs, the scientists of the future are born. As per them, every mind can create something that can change the entire world, and they need every great idea that they can get.

The Institute also announced the establishment of the MIT Stephen A. Schwarzman College of Computing during the campaign. This college is committed to addressing the world’s challenges and opportunities presented by the rise of AI and the prevalence of computing. The college will be headquartered in a signature new building on the Institute’s campus. It will be the interdisciplinary hub for work in AI, computer science, the social & ethical responsibilities of computing and data science.

New Spaces for Collaboration, Creativity, and Innovation

For innovation and entrepreneurship activities, MIT Innovation HQ encompasses more than 25,000 square feet of space. The Institution’s Museum will soon take up residence on Main Street. The Massachusetts Institute of Technology's Metropolitan Storage Warehouse is also being converted into a modern hub for interdisciplinary design research and education. In 2024 a new music building will be completed.

The nation's most advanced academic wind tunnel is created by renovating the landmark Wright Brothers Wind Tunnel. Also, in honor of James H. ’58 and Marilyn Simons, the home of the Department of Mathematics was dedicated as the Simons Building.

Alumni in Record Numbers Engaged with the Institute

83% of alumni engaged throughout the campaign with the Institute. They were engaged through the MIT Alumni Association by logging on to the Infinite Connection (the online portal for alumni), attending alumni events, or making annual gifts to the Institute. More than 27,000 alumni served on boards, volunteered, and participated in the regional clubs.

The MIT Campaign for a Better World tour around the globe brought Institute leaders, faculties and students to London, New York City, San Francisco, Hong Kong, and other cities where many supporters and alumni live and work. More than 11,650 alumni and friends attended the campaign, live or online.

President Reif also showed his gratitude towards the alumni & friends for their partnership and friends. He said that their institute's mission is to make the nation and world better. And this Campaign Better World surely helps them in achieving it.

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