Anonymous Donor Makes Transformative Gift

A generous alumni donor is helping to keep WPI at the epicenter of research, instruction, economic impact, and community partnerships in the financial technology (FinTech) realm. The donor, who wishes to remain anonymous, made their gift in support of a partnership between WPI and Foundation for Liberal and Management Education (FLAME) University of India. The gift currently stands as the largest donation to The Business School in the last decade.

As an innovative polytechnic, WPI long ago recognized the value of integrating business with the school’s STEM curriculum. For over 70 years, the university has been developing STEM students into adaptive leaders who effectively combine technology with business acumen.

Standing as a robust business school for the world’s top STEM change makers is a tall order, one assisted by the university’s founding tradition of philanthropy. “This gift is yet another stellar example of WPI alumni continuing the tradition of philanthropy at the school and making a positive impact on students, the WPI community, and the world,” says Assistant Dean Brent French. “Our biggest challenge is creating a transformational student experience in a way that’s financially sustainable over the long term. The FLAME-WPI Business School FinTech Laboratory gift helps us do just that—deliver exceptional student ROI now and for years to come.”

On a global scale, the multinational nature of the FLAME-WPI partnership further solidifies WPI’s global impact and lays the groundwork for future beneficial partnerships. Additionally, the gift supported the international Future Finance and Economics Association (FFEA) conference held on campus in October 2023. By bringing digital financial scholars together for the first time in the United States and providing them a forum for presenting new ideas and discussing the future direction of FinTech research, this gift helps WPI continue to grow FinTech as an area of expertise and thought leadership.

On campus, the gift will help contain costs and increase students’ value to the marketplace. For example, students now have access to valuable financial databases without paying additional course fees. And for those students interested in pursuing a career in the emerging FinTech industry, they now can enroll in one of two newly launched interdisciplinary degrees—Bachelor of Science in FinTech and Master of Science in FinTech.

For underrepresented students, in particular, this support is highly impactful. The Business School has been active in making FinTech available to underrepresented minority communities and socio-economically disadvantaged students so they can access and leverage the benefits of these technologies. A great example of the work being done in this area is The Business School’s Commonwealth FinTech Bootcamp held on campus in 2022. The Bootcamp taught the fundamentals of FinTech to high school and early college students to raise awareness, create passion for the industry, and encourage students to pursue FinTech-related education.

“We want to ensure FinTech is something that can be understood and harnessed by everyone,” says Dean Debora Jackson. “It’s all about marrying what is being learned in our labs and classrooms with meaningful community engagement. How can we ensure that those who have been left behind can have a seat at the table, and help to shape solutions that are relevant and empowering for them?”

Associate Professor of Finance Kwamie Dunbar says, “FinTech is reshaping the financial services industry, increasing the demand for tech-savvy individuals who can create innovative financial products, improve efficiency, and promote financial inclusion. Meeting these demands not only satisfies market needs but also stimulates economic growth.

“To achieve this,” he adds, “The Business School offers comprehensive FinTech programs that equip students with a wide range of tools and knowledge across disciplines like business, engineering, entrepreneurship, computer science, mathematical sciences, and data science. To ensure our programs are cutting-edge and unique, generous donations like this one are crucial. This gift will set us apart from competitors and enhance our exceptional experiential learning programs, fostering collaboration between our students and partners in both the private and public sectors.”

For more information on The Business School, visit https://www.wpi.edu/academics/business. To learn about ways to support the school, contact Karen Sharpe, assistant vice president of leadership giving, at ksharpe@wpi.edu.