CK Hutchison : Li Ka Shing Foundation gifts NZ$5 million to University of Auckland to promote innovation and philanthropy

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Li Ka Shing Foundation gifts NZ$5 million
to University of Auckland to promote
innovation and philanthropy

The Foundation, set up in 1980 by leading Hong Kong entrepreneur and philanthropist Mr Li Ka-shing, seeks to enhance societal improvement through supporting education and healthcare initiatives. Mr Li believes that anyone can serve society, but only someone with a giving heart can propel social progress. This is key to creating a positive virtuous cycle in society.

The NZ$4 million earmarked for innovation will be used primarily to create the Li Ka Shing Innovation Fund, which will drive teaching and research related to innovation and entrepreneurship. It will support the university as a hub of innovation in the Asia Pacific region, engage students in its entrepreneurial ecosystem and encourage the creation and commercialisation of student-led companies through its Centre for Innovation and Entrepreneurship and other programmes at the Business School. There will also be funding allocated to supporting radical innovation projects, particularly in science, technology and engineering.

In addition, the Foundation has also offered to match donations to the university on a dollar-for-dollar basis up to NZ$1 million in total to encourage alumni and supporters in Greater China to support the university's campaign and build a culture of philanthropic support from Asia for its work.

Mr Li said, 'New Zealand has always been one of my favourite destinations, a country blessed with spectacular mountains and sparkling lakes, easy going and innovative people. I wish this University of Auckland's campaign effort and creative collaborations in the future to be a resounding success.'

Speaking at the donation announcement ceremony, Mr Frank Sixt, Director of Li Ka Shing Foundation, expressed sympathy towards the earthquake happened recently in New Zealand and hoped that the reconstruction would be worked out smoothly and people in the country could resume their normal living as soon as possible.

University of Auckland Vice-Chancellor Professor Stuart McCutcheon said, 'This generous donation from the Li Ka Shing Foundation will help the University of Auckland to further develop the radical innovation needed for New Zealand to thrive in a dynamic global economy.

'In addition, the matched funding initiative stands to significantly enhance international philanthropic support from alumni and other supporters based in Asia and encourage the partnerships that are crucial to make a sustained impact on the world around us.'

Notes for editors:

1. Established in 1980, the Li Ka Shing Foundation (LKSF) has four core imperatives: 1) empower people, 2) foster change, 3) develop a better society and 4) inspire societal improvement. Mr Li considers the Foundation to be his 'third son' and has pledged one-third of his assets to it. To date, over HK$20 billion has been put to work to support all its initiatives across 27 countries and regions. 87% of LKSF's donations benefit projects in the Greater China region. For more information, please visit: http://www.lksf.org.
2. The University of Auckland aims to partner with supporters to address some of the key issues facing New Zealand and the world such as: access to quality education; a clean environment; preventing adult disease before birth; ensuring those with talent can reach their full potential; integrating creativity into all our lives; improved cancer survival rates; a modern robust economy; and an environment safer in earthquakes.
3. Information about the campaign is available at www.giving.auckland.ac.nz.
4. The University of Auckland is already recognised as the most innovative university in Australasia. It came 27th in the inaugural Reuters Top 75: Asia's Most Innovative Universities list, ahead of leading Australian universities, and was the only university in New Zealand to make the top 75.
5. The University of Auckland is New Zealand's leading university. It is the only NZ university ranked in in the top 100 in the QS World University Rankings. It is also the highest ranked New Zealand university in the Times Higher Education World University Rankings, and in the Shanghai Jiao Tong Academic Ranking of World Universities.
6. The University has one-third of the A-rated (internationally-esteemed) researchers in the entire country.

Li Ka Shing Foundation
Jeremy Lau
Tel: +852 2128 1207
Mob: +852 6477 9089
Email: jeremy.lau@lksf.org

University of Auckland
Pete Barnao
Communications Manager
Tel: + 64 9 923 7698
Mob: + 64 21 926 408
Email: p.barnao@auckland.ac.nz

Helen Borne
Campaign Communications Manager
Tel: + 64 9 923 2246
Mob: + 64 21 701 180
Email: h.borne@auckland.ac.nz