Industry

Aboitiz Group Gives Half a Billion Pesos to AIM

It’s reportedly the largest single cash donation ever given by a private company to a higher educational institution.
Comments

The philanthropic arm of the Aboitiz Group has donated $10 million or more than half a billion pesos to the Asian Institute of Management (AIM) to help fund the latter’s graduate studies programs on data science and business, among others, the institution announced in a press conference on May 8, Wednesday.

“This is the single largest cash donation in the history of Philippine higher education, as far as we are concerned,” said AIM president Jikyeong Kang.

The donation, which was made through the Aboitiz Foundation, will fund AIM’s initiatives under the newly renamed Aboitiz School of Innovation, Technology, and Entrepreneurship (ASITE). Established in 2017, the school offers business programs for those who wish to combine studies in Science, Technology, Engineering, Arts, and Mathematics (STEAM), and entrepreneurship. 

One of the most impactful initiatives to emerge from the donation is the establishment of the no-interest Aboitiz Student Loan Program (ASLP), which will mainly provide financial support to less cash-endowed professionals who wish to enroll in ASITE’s Master of Science in Data Science (MSDS) and the Master of Science in Innovation and Business (MSIB).

ADVERTISEMENT - CONTINUE READING BELOW

The MSDS is the first graduate school program for Data Science in the country and was only launched in March 2018 with an inaugural class of 41. The 14-month program prepares business executives with the sensibilities and technicalities of data science. In December 2018, less than a year since its launch, the program was recognized by London-based magazine Times Higher Education (THE) as the third best in Far East Asia.

Meanwhile, MSIB is the graduate degree program for scientists, engineers, and technologists who want to go into entrepreneurship. The program helps develop the next round of tech startup founders in the country.

Both programs’ tuition cost more than a million pesos.

"This gift [from the Aboitiz Group] is really about opening [ASITE] to more deserving students. AIM is not very inexpensive, and [we believe] a lot of brilliant Filipinos deserve this education in data science, innovation, and business. And with this gift from the Aboitiz, we can help them with a no-interest loan and hopefully some scholarships, as well,” newly endowed Aboitiz chair of data science professor Erika Fille Legara told Esquire Philippines.

ADVERTISEMENT - CONTINUE READING BELOW

Legara shares the post with ASITE head professor Christopher Monterola.

According to Kang, at least $4 million of the Aboitiz Group’s donation will go to the zero-interest student loan program, which will be offered “perpetually.”

Aside from the ASLP, the donation will also fund “future facilities improvement” of ASITE. The school is home to [email protected], a “corporate laboratory” that hopes to develop innovative solutions through data science and artificial intelligence, among others, to private and public entities. AIM recently won the Technological Innovation of the Year award in the annual THE Awards Asia, which recognizes innovations made by universities in the region, because of the laboratory.

Comments
View More Articles About:
About The Author
Elyssa Christine Lopez
Elyssa Christine Lopez is a staff writer of Esquire. Follow her on Twitter @elyssalopz
View Other Articles From Elyssa
Comments
Latest Feed
 
Share
The Portuguese trailer of Spider-Man: Far From Home has nuggets of new information.
 
Share
Everything you love and want in a Tarantino film is here, but it also has deep, real emotion.
 
Share
Ayan Villafuerte shot Happiness in 2012. In 2019, he learned that two other artists from the other side of the world have been claiming it is their own work.
 
Share
Here's everything we know so far about the international espionage epic.
 
Share
What if Superman were an evil alien sent to subjugate the species through terror and violence?
 
Share
See all the pieces from the unique limited-edition pre-drop collection.
 
Share
Mico Suayan worked on the exclusive Comic Odyssey cover variant, featuring Filipina Marvel superheroine Wave, for War of the Realms: New Agents of Atlas.
 
Share
Here are five things we learned from Vanity Fair's massive Star Wars cover.
 
Share
ING Bank uses facial recognition technology targeted toward 'digital-ready' Filipinos.
 
Share
A decade after Twilight, Pattinson is ready to play the most vampiric of comic book heroes
 
Share
The new gender neutral capsule will benefit LGBTQIA+ organizations around the world.
Load More Articles