Doosan and Bobcat Company donated $3 million to North Dakota State University’s (NDSU) STEM-related (Science, Technology, Engineering and Mathematics) scholarship program. In addition, the State of North Dakota will match the donation, adding another $1.5 million to the fund.
According to the companies, the endowment will distribute approximately $180,000 in scholarships per year in perpetuity, beginning this year.
“STEM-related areas help fuel innovation, which is the very foundation of our business and the key to our future,” says Rich Goldsbury, president of Doosan and Bobcat Company. “This endowment will help students fulfill their aspirations in engineering and other innovation-related professions.”
Bobcat and Doosan Company also began a research partnership with NDSU in 2005. Through the partnership, Bobcat established engineering and product testing facilities, a technology lab and an indoor machine testing area.