Doosan, Bobcat Donate to NDSU Scholarship Endowment
Doosan and Bobcat Company have announced their continued support of innovation in education by donating $3 million to North Dakota State University (NDSU) to fund a STEM-related scholarship program. The State of North Dakota will add $1.5 million; the $4.5 million is the single largest gift to establish a scholarship endowment in NDSU history.
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| Scott Park, president and CEO of Doosan Infracore Bobcat Holdings; Dean Bresciani, president of NDSU; Rich Goldsbury, president of Bobcat Company and Doosan. |
When fully funded, the endowment will distribute approximately $180,000 in scholarships per year in perpetuity. STEM programs, focused on Science, Technology, Engineering and Mathematics, are particularly important to Doosan and Bobcat, and this expanded partnership with NDSU becomes the centerpiece of the company’s STEM-related community involvement efforts. Some scholarship distribution will start this year as endowment funding begins.
Prior to a press conference announcing the gift, the formal agreement was signed by NDSU President Dean Bresciani and Doosan Group Chairman YM Park. Scott Park, president and CEO of Doosan Infracore Bobcat Holdings Co., Ltd.; and Rich Goldsbury, president of Doosan and Bobcat Company, North America and Oceania, were also present. Chairman YM Park traveled to Fargo for the ceremonial signing from Seoul, South Korea. YM Park is also chairman of the Korea Chamber of Commerce and Industry.
“STEM-related areas help fuel innovation, which is the very foundation of our business and the key to our future,” Goldsbury said. “This endowment will help students fulfill their aspirations in engineering and other innovation-related professions. They may end up working for Doosan and Bobcat Company, but even if they stay and put their talents to work at other companies in the state or region, it’s a benefit to our communities.”
Doosan and Bobcat Company began a research partnership with NDSU in 2005, becoming the anchor tenant at the NDSU Technology Incubator, part of the NDSU Research and Technology Park. Through the partnership, Bobcat established engineering and product testing facilities that include 15,000-square-feet of floor space for up to 50 Bobcat employees, a working technology lab and an indoor machine testing area.
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