Harvard receives $25 million gift for life sciences, business school

Harvard receives $25 million gift for life sciences, business school

Harvard Business School and Harvard's Department of Stem Cell and Regenerative Biology have announced a $25 million gift from alumni Chris and Carrie Shumway (MBA '93) in support of the life sciences.

With the aim of bridging the worlds of business and science and educating a new generation of leaders in the life sciences, the gift will fund curriculum development, faculty research, and programming, including the MS/MBA Biotechnology: Life Sciences, a joint degree program offered by HBS, the Graduate School of Arts and Sciences (GSAS), and Harvard Medical School (HMS). Launched last fall, the program enables students to study general management at HBS and life sciences at HSCRB, combining their existing knowledge of biotech and the life sciences with the latest business and scientific insights.

"The MS/MBA program is a collaborative effort from several schools across Harvard to fill a unique need we see in the industry," said GSAS dean Emma Dench. "The program provides students with the opportunity to become conversant in both biomedical science and business, and this generous gift will help to ensure that we can prepare them to lead in the rapidly growing life sciences fields. 

"The acceleration of global health issues, including the current pandemic, demonstrates the need for entrepreneurial thinking," said Chris Shumway, founder and managing partner of Shumway Capital. "Leaders born out of these programs will be equipped to drive organizations at the forefront of groundbreaking discoveries with the mindset needed to solve complex problems worldwide."