The University of Illinois’ College of Engineering received a $100 million donation from The Grainger Foundation, establishing the Grainger Engineering Breakthroughs Initiative. “The majority of the money will be endowment money. It will be used for chairs and professorships to attract the very best faculty. The next major use will be for an endowment for scholarships for undergraduate students."
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"A portion of the money, which will not be endowment, will be used to help renovate the Everitt laboratory on the college of engineering campus and there’s also an endowment that will be used for seed funds for new research initiatives,” says interim engineering dean Michael Bragg. The dean also says it’s expected to take four or five years for the funding of the initiative to happen.