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February 9, 2012 09:05 am

The Lack of Scientific Philanthropy In Japan


ananyo writes "The University of Tokyo this week unveils the Japan's first institute named after a foreign donor: the Kavli Institute for the Physics and Mathematics of the Universe. The announcement adds Norwegian philanthropist Fred Kavli's name, along with a US$7.5-million endowment, to one of Japan's most successful institutes. The new center marks a turning point for Japan: to date, the country's universities and research institutes have long had to make do with few philanthropic donations. Strict laws governing university finances, and the lack of a philanthropic tradition, have discouraged the gifts that serve Western institutions so well. To get around the laws, instead of handing the endowment over to the institute, the Kavli Foundation will continue to manage the sum, giving the institute the return on the funds."

Read more of this story at Slashdot.


Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/SiIPyMDHq1E/the-lack-of-scientific-philanthropy-in-japan

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