Posted on Jan. 8: Gift fosters generation of innovation

A McMaster alumnus and successful entrepreneur hopes to foster another generation of innovation with a $1-million gift to support the creation of a new research chair in engineering entrepreneurship and innovation. The gift from Woodstock businessman Walter G. Booth will be used to establish the Walter G. Booth Chair in Engineering Entrepreneurship and Innovation in the Faculty of Engineering. The gift was celebrated today with an announcement at the University. Booth is Chairman and CEO of the Timberland Group, a group of three companies that specialize in winching and hoisting products that are sold around the world. Booth graduated from McMaster with a bachelor of engineering in mechanical engineering in 1962 and obtained his master's in engineering in 1965. Booth said this gift is his way of saying thanks to two McMaster professors  former engineering dean Jack Hodgins and Jim Siddall  and honouring their willingness to be academic leaders of innovation. Booth said both men were instrumental in his academic life and pursuit of a meaningful and successful career as an entrepreneur. "Both men took a chance on me at crucial times in my life and entrepreneurship and innovation are about taking chances and taking risks," he said. "I see the need in our own organization and in Canada for this type of engineering person who has an entrepreneurial bent and strength."

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