Technion gets $12 million to start business institute


NEW YORK (JTA) — The American Technion Society has received a $12 million gift to launch a business institute at Israel’s premier technical college.

The gift from The Andre and Katherine Merage Foundation of Southern California will go to start the Andre and Katherine Merage-Technion Institute for International Business at the Technion-Israel Institute of Technology.

The institute, set to open in 2010, will feature an English-only international executive master’s program in business administration to train high-tech leaders. It also will have three centers to help Israeli high-tech firms penetrate markets in the United States, Europe and Asia, according to the American Technion Society.

Some $8 million of the gift is earmarked for the program over the first several years, and $4 million will be available when it is determined that the institute needs its own building.

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