Published On: Tue, Apr 30th, 2013

Harvard Business School receives a $50 million donation from Britain’s second wealthiest billionaire, Len Blavatnik

Len Blavatnik / Getty

Len Blavatnik / Getty

/By Yael Segev /

Russia-born media tycoon Len Blavatnik, has announced the donation of $50 million to the Harvard University Business School. Followed by a previous donation of $10 million dollars in 2009, in order to support medical research and technology.

The Blavatnik family foundation assists financing  a Biomedical Accelerator to identify and develop early stage of life science technologies and the establishment of the “Blavatnik Fellowship in Life Science Entrepreneurship Program”, aiming to  shorten the “”development gap”, the period of time required in order to convert medical research to commercial medical products.

Blavatnik said: “By partnering with Harvard’s world-class biomedical research division, I am delighted to help accelerate the development of new therapies, ” The Blavatnik Fellowship in Life Science Entrepreneurship Program at Harvard Business School, encouraging students to get involved in science entrepreneurship. And biomedical innovation and projects through operating  Accelerator projects,

The foundation announcement  also said: “By increasing the collaborative efforts between Harvard Business School and Harvard’s scientific community, we will empower the next generation of life science entrepreneurs and provide a further catalyst for innovation and research development.”

Harvard President , Dr. Catharine Drew Gilpin Faust is convinced that:  “The Blavatnik Biomedical Accelerator and the integrated cross-university partnership it enables will advance the next great breakthroughs in biomedical technology, with its roots at Harvard.”

Lev Blavatnik has been recently defined  second in the “Sunday Times” Britain’s 100 wealthiest billionaires’ list . In 1986, ” His keen belief in online music has  Led him to invest a legendary sum of I $130 million in the online music service ‘Daisy’, through his New York-based holding company, ‘Access Industries’. Other than music, Blavatnik’s varied investments contain natural resources such as oil, chemicals internet service companies, mobile communications, TV channels and even a few holdings in the fashion business. In recent years, the Lev Blavatnik Family Foundation has been donating substantial amounts to medical and scientific research throughout the world.

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