AUS receives AED Five Million to establish The Makhzoumi Foundation Scholarship Fund for Entrepreneurship in Industry

Posted on: March 20, 2014

American University of Sharjah (AUS) has received AED five million from Future Pipe Industries, the world's leader in design and manufacture of composite large diameter fiberglass pipe system, to set up the The Makhzoumi Foundation Scholarship Fund for Entrepreneurship in Industry. The establishment of the fund will allow meritorious students and those with financial need to benefit from the excellent education provided by AUS.

This generous endowment is yet another manifestation of the private sector's confidence in AUS and the university’s ability to partner with leading corporate names to ensure quality higher education and training to deserving candidates. Such ties are an integral part of the goals set by the university since its very inception.

Commenting on the establishment of the fund, Fouad Makhzoumi, Chairman and Chief Executive Officer of Future Pipe Industries, and the Founder of Makhzoumi Foundation, emphasized that he is working on the premise that education and training are the building blocks for people to realize their true potential. "This fund is meant to support the endeavors of young entrepreneurs at AUS by recognizing the importance of investing in education to serve the communities across the nation in order to foster ongoing economic growth and prosperity for the country", he said.

Dr. Thomas Hochstettler, Acting AUS Chancellor, thanked Makhzoumi for his continuous support of the educational mission of the university and for his generous contribution. "The Makhzoumi Foundation Scholarship Fund for Entrepreneurship in Industry is one of the university’s initiatives to support our emerging entrepreneurs. By partnering with a far-sighted business leader like Fouad Makhzoumi, who is well known for his keen interest in social welfare, and who himself is a successful self-made businessman keen to give back to society, we are able to support the endeavors of AUS young entrepreneurs and provide them with opportunities to interact with members of the business community," said Dr. Hochstettler.

AUS Vice Chancellor for Development and Alumni Affairs, Dr. Nada Mourtada-Sabbah, expressed her gratitude to Makhzoumi for his generosity and support of the educational endeavors and entrepreneurial projects at AUS as well as in contributing to capacity-building of the future young leaders and entrepreneurs of tomorrow.

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