The University of Chicago has announced a $20 million gift from alumnus Tandean Rustandy (MBA '07) to expand research on and programming around social innovation and entrepreneurship at the university's Booth School of Business.
The Rustandy Center for Social Sector Innovation at Chicago Booth will serve as a hub for students and faculty who are tackling complex social and environmental problems and as a resource for nonprofit leaders, social entrepreneurs, and others committed to social innovation. To that end, the center will focus on five areas — research on social sector institutions; training and networks for nonprofit board members; development of innovative and experiential curriculum; resources for students and alumni interested in social impact careers; and programs related to social entrepreneurship and social venture funding.
"This most generous commitment from Tandean will secure the future of Booth's social enterprise activities," said Doug Skinner, Chicago Booth interim dean and the Eric J. Gleacher Distinguished Service Professor of Accounting. "Our students and alumni are becoming increasingly interested in using their business training to solve social problems, and the Rustandy Center will serve as the venue for all of our efforts in this area."
Rustandy, who sits on the Chicago Booth Council and Booth Global Advisory Board Asia, is the founder of ceramic tile manufacturer PT Arwana Citramulia Tbk in Jakarta, Indonesia. According to the university, Rustandy's belief in a socially beneficial approach to business was the driving force behind his decision to support UChicago and help advance the future of the school's social impact research and programs.
"I don't believe in companies that just exist to make a profit," said Rustandy. "A company should also serve and guide people."