Wake Tech Partners with Industry Leader in Fundraising Initiative
Corporate Commitment Will Strengthen “The Ripple Effect” Campaign
RALEIGH, N.C. (August 1, 2012) - The Wake Tech Foundation has an important new partner in its largest-ever fundraising initiative. ABB, an international leader in power and automation technologies, has generously committed $150,000 over three years to Wake Tech’s major gifts campaign, called “The Ripple Effect.”
“Our partnership with ABB is exciting on many levels,” says Wake Tech President Dr. Stephen Scott. “It will support outstanding students, encourage creative faculty initiatives, and help Wake Tech leverage technology and equipment to serve the community better. The partnership can have a lasting impact on the local job market and the economy of our region.”
ABB’s financial commitment will provide significant support for the three main focus areas of The Ripple Effect campaign: student success, faculty innovation, and technology impact, as follows.
- $75,000 for an endowed student scholarships in Electronics Engineering Technology and Electrical/Electronics Technology
- $30,000 for faculty innovation in the areas of Electronics Engineering Technology and Electrical/Electronics Technology
- $45,000 of in-kind ABB equipment for electrical/electronic engineering labs
First-year students who are recent high school graduates studying applied, computer, and engineering technologies will be eligible for the ABB scholarships. Scholarships will be awarded on the basis of academic merit and financial need. Allen Burchett and Nathan Becker from ABB will serve as liaisons between the firm and Wake Tech and will provide input on program and course development.
Virginia Parker, Wake Tech’s Director of Strategic Partnerships, says the new relationship with ABB is ideal – a model for what all such partnerships should be: “It’s an investment of financial, in-kind, and human capital that will have a high return for everyone involved – a true win-win.”
The Ripple Effect campaign is a response to record-breaking enrollment at Wake Tech and increased demand for the many training programs and educational options the college offers. The initial goal is to raise $10 million to support scholarships and mentoring initiatives for students, faculty and staff innovation, and technology to provide the most relevant and up-to-date training. The campaign will culminate with Wake Tech’s 50th anniversary celebration in 2013. Investors may make gifts in the form of cash, securities, personal property, and planned gifts of many types. To find out more, visit http://therippleeffectcampaign.org or contact [email protected].
About the Wake Tech Foundation:
The Wake Tech Foundation’s mission is to partner with corporations, foundations, and individuals to support Wake Technical Community College’s institutional and instructional needs. In the 2011-2012 academic year, 233 students continued their education with the help of a Foundation scholarship or emergency financial assistance loan. To date, 300 employees have received financial assistance to pursue their bachelor’s or master’s degree, doctorate, certificate, licensure or other professional development through the Foundation’s tuition assistance program. For more information, visit http://foundation.waketech.edu.
ABB is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 145,000 people.