Netflix’s Reed Hastings Gives $20M To Minerva University, An Emerging School With A Distinctly Global Approach To Higher Education
Netflix co-founder Reed Hastings has given $20 million to Minerva University, a school focused on educating what it describes as “new generations of wise leaders and purpose-driven entrepreneurs” from dozens of countries.
The gift “lays the foundation for Minerva University’s long-term sustainable growth,” a press release said. It builds on previous donations by the Netflix Co-CEO, which supported 4-year scholarships for nearly 100 students.
The San Francisco-based school was established in 2012 with $25 million in funding from Benchmark Capital. It has “accomplished so much in a short time: from innovative concept, to small pilot, to U.S. accreditation with over 600 students and nearly 600 alumni,” Hastings said. “This gift is intended to set Minerva on a trajectory towards educating many more thousands of students from around the world and dramatically increasing its positive impact.”
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Students at Minerva come from more than 80 countries and experience “immersive living and learning” in seven countries while learning about a range of global challenges across industries and cultures. The school looks to help them leverage their global perspectives to develop solutions to the world’s most intractable problems, including the climate crisis, future pandemics and geopolitical conflicts.
“I am honored that Reed Hastings recognizes the uniqueness of our approach at Minerva University and how we educate students to have a profoundly positive impact on the world,” said Mike Magee, President of Minerva University. “Reed deeply supports access to quality education for all students, and this incredibly generous gift validates our efforts to provide global higher education for a better world.”
The gift from Hastings will enable the university to initiate plans for longer-term growth as well as supporting students with high financial need with scholarships.
“Minerva University proves that the world’s most exceptional education can be accessible at half the cost of most selective U.S. universities to students from diverse socioeconomic backgrounds from around the world,” Minerva founder Ben Nelson said. “Reed’s generous gift makes it possible for Minerva University to continue to scale, allowing many more students to obtain the best university education possible.”
Hastings said the more he has heard about the accomplishments of Minerva students and alumni, “the more I am convinced that Minerva University should scale to create opportunities for more bold and purposeful students with promising trajectories.” Graduates of the school, he continued, “have a depth of global cultural understanding, intellectual skills that cross disciplines, and problem-solving
abilities unique to higher education. I see incredible potential for Minerva University to
increase its positive impact in the world.”
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