Engineering alumni make largest-ever gift to support eco-entrepreneurship

A class of engineering graduates from 1962 has banded together to give more than $3-million, the largest gift ever made to the Faculty of Engineering, to support entrepreneurs developing sustainable technologies.

The gift, from Walter Booth, Julius Brokloff, Irvine Hollis, David Male, George Menzies and Del Smith, will establish the Class of '62 Mechanical Engineering Chair in Eco-Entrepreneurship and a fund for sustainable entrepreneurship. The Chair will reside in the Walter G. Booth School of Engineering Practice, with funds available to support students in developing innovations.

“We thought a gift from past students to support future entrepreneurs would be an ideal way to mark the upcoming 50th anniversary of the class,” said Walter Booth. “Being part of the first engineering class, and entrepreneurial ourselves, we appreciate the type of support and encouragement new ventures need to succeed.”

The Chair in Eco-Entrepreneurship will investigate how public policy can be developed and implemented to encourage entrepreneurship in sustainable technologies. Environmental and regulatory policies can strongly influence potential opportunities to develop new products and services and determine the ability of a business to succeed.

“This is a generous, visionary and necessary gift if we are serious about building a sustainable future,” said Patrick Deane, President of McMaster. “It shows the impact that a group of friends, who came together in a class some 50 years ago, can have on the future. That's the power of universities in building lasting and influential friendships. That's the power of our alumni.”

Today's gift builds on the $3 million previously donated by Booth to help establish the School of Engineering Practice. The School was formed in 2003 to provide engineers and scientists with the opportunity to pursue interdisciplinary master's studies in entrepreneurship and innovation, public policy, engineering design and manufacturing engineering. There are 120 students currently enrolled.

“There is no one better at taking ideas and turning them into reality than engineers who are also entrepreneurs,” said David Wilkinson, dean of engineering. “If anyone is up to the challenge of building a sustainable environment, they are. They already have the problem-solving skills. We provide the guidance and environment for them to become entrepreneurial. The support our alumni have shown today is both inspirational and practical in terms of achieving success.”

The faculty launched a five-year strategic plan in 2009 focused on engineering a sustainable society.

“Generating an idea is just the first step in addressing a problem or opportunity,” said Samir Chidiac, director of the Walter G. Booth School of Engineering Practice. “Developing marketing strategies, addressing regulatory requirements, financing, and design and manufacturing, all weigh heavily in achieving viable solutions. The new Chair will help bring together these considerations to increase opportunities for success.”