Strathclyde alumni donates £50 million to the University

Dr Charles Huang alongside Principal and Vice Chancellor of the University Sir Jim McDonald; Image Credit: The University of Strathclyde

By Zoe McMorran

A £50 million donation – the largest ever to any Scottish University – has been made by Strathclyde alumni Charles Huang to the University of Strathclyde.

“We are incredibly grateful to Dr Charles Huang for this exceptionally generous gift,” said Professor Sir Jim McDonald, the University’s Principal and Vice-Chancellor. He added: “A donation of this scale will make a huge difference to our students, our research, and our innovation.”

Charles Huang stated that the University played a “critical role” in his career and business success, especially the late Professor Stephen Young who passed this August.

In 1988, Huang came to study at the University under a scholarship from the British Council for international students and since went on to found and chair the US-based private equity firm Pasaca Capital Inc, whose subsidiary Innova Medical Group are responsible for developing rapid lateral flow tests used in Covid-19 testing programmes.

Innova Medical Group recently faced a mixed response for its rapid antigen test, particularly from the US Food and Drug Agency (FDA). However, Huang’s contract with the UK Government went ahead making Innova part of the UK’s multibillion pound-mass testing programme and the lateral flow tests are used daily by millions of people.

Professor Young is said to have made a significant and lasting impact on his students wherever they were from and was paramount in the successful lives that many have gone on to lead.

Juliette Young, Professor Young’s daughter, stated; “We would like to express our gratitude and thanks to the Charles Huang Foundation for remembering our father in this way.”

£20 million of the donation will be put towards the creation of the Stephen Young Global Leaders Scholarship Programme, the Stephen Young Entrepreneurship Awards and will allow the creation of the Stephen Young Institute for International Business to honour the Professor and shape the future of other Strathclyde students.