The has announced a $130 million gift from the in support of a joint venture with in Guangdong Province.
The largest gift ever to the Technion will help launch the Technion Guangdong Institute of Technology, which, with an additional $147 million from the provincial and Shantou municipal governments, will be built next to the campus of Shantou University. The gift from Hong Kong-based LKSF also will be used to support students and researchers at the Technion's home campus in Haifa and will enable the institute to fulfill its leading role in the development of TGIT. A portion of the gift came from the proceeds of the recent sale of Waze — an Israeli GPS navigation technology in which Li Ka-shing's private venture capital firm Horizons had invested — to Google for nearly $1 billion.
Starting with the 2014 academic year, TGIT will offer undergraduate programs in civil and environmental engineering and computer sciences; university officials anticipate adding other programs such as mechanical and aerospace engineering by 2020. The language of instruction at the university will be English, with faculty recruited from universities around the world. The first cohort of TGIT students will spend their first two years of studies in Haifa while the Shantou campus is under construction before returning to China for their third year.
"In a world of fluid boundaries, the transformative power of technology waves like a magic wand, bringing new models and opportunities to many frontiers and generating new solutions to entrenched problems, but we all know the wands are only as powerful as the wizards who use them, and the magic comes from the genius within," said Li Ka-shing at the signing ceremony in Tel Aviv. "Our responsibility is to invest in education to unlock that genius and enable the continuing realization of human potential, building a society rich in knowledge and securing a sustainable quality of life for all. Failing to do so amounts to a crime against the future."