American Technion Society Receives $5 Million for Endowed Chair

The , the U.S. fundraising arm of the Haifa-based , has announced a $5 million gift from Joan and Sanford I. Weill and the to endow a chair in perpetuity at the Joan and Irwin Jacobs Technion-Cornell Institute at Cornell Tech in New York City.

The gift will establish the Weill Endowed Founder's Chair in support of the teaching and research activities of a full professor at the institute. The chair also will be a vehicle for helping to ensure the institute is able attract, retain, and support internationally renowned faculty members able to bolster its reputation and attract talented young faculty and postdoctoral fellows eager to work with them.

Sandy and Joan Weill, who are signatories to the , have contributed more than $600 million to , including $100 million in 1998 to and another $100 million in 2013 to launch Weill Cornell’s campaign and provide critical resources for biomedical research at the medical center. Sanford Weill chairs Weill Cornell’s board of overseers and is an emeritus trustee of Cornell University.

"As a leading international center for technology innovation, the Jacobs Technion-Cornell Institute must make it a priority to attract and retain the very brightest minds," said Weill. "We're thrilled to provide this fund that will bring a senior academic scientist to be a part of this unique endeavor."

"." American Technion Society Press Release 09/17/2014.